Minimal trade demand for Australian Lentils from India. Been advised by brokers that there are trade offers as low as USD 685 CFR Kolkata bulk in containers with limited buyer interest. Today’s replacement value for Nipper/Hallmark #1 – June/July – Bulk in Containers – CFR Kolkata – USD 695 pmt; CFR Nhava Sheva – USD 690 pmt
As far as Australian Faba Bean no demand from India. Last I heard trade offers around from the market for Faba Bean at USD 410 seller. Our price Indication CFR Kolkata – USD 420 pmt FAB1 less USD 10 FAB2 – Bulk in Containers – June/July.
After strong demand & aggressive buying of Australian Desi Chickpeas, Kabauli & Lentils by Pakistan for two weeks. Suddenly demand dipped from the Pakistan market. Our price indications for CFR Karachi – June/July – Bulk in Containers – CHK1 -USD 570 pmt; CHKM – USD 555 pmt; KCP 7/8 mm – USD 980 pmt; Nipper #1 – USD 700 pmt.
No forthcoming demands coming from Nepal, UAE & Bangladesh. In Bangladesh last week heard a trade offer for Nipper/Hallmark #1 around USD 670-680 levels but weak demand as of now.
Nepal pulses market is bearish, our price indication for Nipper/Hallmark #1 – June/July – Bulk in Containers – CFR Birgunj – USD 735 pmt.
Minimal trade demand at present coming for Australian canola seeds from Nepal. Our price indication for GM Canola Min 44% oil – June/July – Bulk in Containers – CFR Birgunj – USD 670 pmt.
Australian growers are now searching for that next rain event from WA around to parts of eastern Australia, while some areas are very wet in western Victoria.
USDA report last Friday reduced Australia’s 23/24 wheat production to 29mmt from 39mmt on the impending threat of EL Nino with exports pegged at 21mmt. US wheat production is also forecasted to be one of the lowest at 31mmt. It points to a tighter snd outlook which seemingly has provided a floor to the market. All eyes are on the Black Sea corridor to determine the direction, however, it is broadly expected by trade to be renewed.
Sowing of winter crops will be almost over in the next 15 days in the eastern Australian states of Qld, NSW, Vic and SA whilst WA farmers slow down planting due to a lack of seed germinating rains across its wheat growing zones.
With strong El Nino second half of the year, Australia could see a drier and warmer start to winter after three years of wet and unpredictable weather, while India, the world’s second-biggest producer of wheat, rice and sugar, could get below-average rains due to the phenomenon.
We have not seen any significant demand from SE Asia for containerised wheat. Australia wheat bulk in containers quoted ASW-USD 330 pmt; APW-USD 334; pmt APH2-USD 402 pmt. Australian wheat export demand is very lacklustre, lack of both exporter engagement and grower selling sentiment.
As of now weak demand in China for Sorghum; Trade offers around USD 340 levels CFR Tianjin for bulk in containers, but no bids against it.