US wheat crop harvest, harvest commencing in Europe and alleviating weather concerns for Russia have eased global wheat prices; Australian wheat prices have also eased following global cues. APW prices have declined by A$12–15/MT this week.

Australian wheat is expected to face intense competition from Russian and Ukrainian wheat in the SEA & EA region, since Turkey has put a hold on wheat imports from both nations until the next government notification. In SEA region APW being quoted at U$308/MT levels to CFR Major SEA ports which is U$10 higher than CIS origins.

Indian pulses markets continue to trade under fundamental demand matrix though with increased fears of government controls. Market sources indicate that the current crop of Australian desi chickpeas are nearly sold out, origin prices for new crop are firming up as demand from India is expected to remain strong in the coming months.

Demand for Australian desi chickpeas in India has eased in the past week with offers and bids declining U$10/MT week on week; offers are quoted at U$890/MT to CNF India ports (Jul/Aug) with limited buyer interest, and forward month business is reportedly trading at U$860-65/MT to CNF India (Oct/Nov) in containers. Australian red lentils are in low demand; hearing that trade reported at U$745/mt to CFR Kolkata in containers.

In Pakistan, the Eid festival is approaching, and there has been no trade activity for the past 5 weeks due to sluggish demand. Current trade offers are reported for NIP1/HAL1 at U$750-755/MT, CHK1 at U$910/MT, & CHKM at U$835/MT to CFR Karachi in containers.

Australia’s red sorghum is in stable to low demand in China, hearing trade offers at U$304/MT to CFR Tianjin (Jul/Aug) in containers. There is minimal demand for Australian GMB P-grades because other origins of GMB are more reasonably priced. Trade offers of Australian GMB-P grade at U$980/MT to CFR Qingdao. Kaspa peas have been quoted at U$505/MT for CFR Tianjin in containers, reflecting some buyer interest.

In Nepal, minimal demand for Australian canola, chickpeas, and red lentils. we hearing trade offers for NIP1/HAL1 at U$795/MT to CFR Birgunj & recent trade reported for canola at U$630/MT to CFR Kolkata (J/J or J/A) in containers. 

In Egypt, there is minimal demand for Australian faba beans and lupins. Trade offers for faba beans have been heard at USD 545-550/MT to CFR Damietta.

Disclaimer: Prices mentioned are for indication purpose only

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