Pulses, Canola & Grains Market Update (17/05/2023) 

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.

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Pulses Canola & Grains Market Update (10/05/2023) 

Minimal trade demand for Australian Lentils from India. I have been advised by brokers that there are trade offers of USD 690 CFR Kolkata bulk in containers with limited buyer interest. Export parity from Australia at USD 710 CFR Kolkata – June/July. 

Currently no demand for Australian Faba Beans in India’s market. Indication CFR Kolkata – USD 440 pmt FAB1 less USD 10 FAB2 

Nepal, UAE & Bangladesh continue to be very quiet – no pulses demand forthcoming.  

Pakistan market gone quiet this week after seeing strong demand of Australian desi chickpeas for last two weeks.  Been advised of trade offers at USD 570 levels CFR Karachi in containers – no bids are forthcoming at these levels. Australian Kabulis no demand. 

Seeing some demand for Australian canola seed in Nepal. However, still no parity with buyers expecting USD 655 CFR Birgunj levels; trade offer USD 675 CFR Birgunj. Competition from Ukraine-origin rapeseed keeping bids in check. 

Heavy funds selling on the bourses for the full food, feed and oilseed complex.  

Wheat continues to be hammered on the back of good crop conditions in the US, lower priced offers on new crop wheat from CIS and generally low demand from SEA millers who have covered their requirements up to July,23. Australian wheat in containers into main SEA ports quoted ASW – Low USD 330’s; APW – mid USD 330’s; AH2 – high USD340’s 

Weak demand for Australian Sorghum in China due to a crash in the feed complex prices. Corn sales to China continue to be cancelled by exporters. Upto 800,000 tons purchased by China have been cancelled in recent weeks.  

Trade offers for Australian Sorghum to China USD 355  levels CFR Tianjin for bulk in containers, however limited demand at low USD 340 levels. 

Improving prospects of large grain supplies in the northern hemisphere growing regions is continuing to put a heavy lid on demand and pricing expectations of consumers continue to be heavily discounted to replacement values. 

Australian growers continue to plant the winter crop which contributes to low sales and hence stagnant prices on Australian-origin grain. They continue to hold on to warehoused grain although export demand has dropped significantly with very little new business reported in the last few weeks. 

About 50-60% crop has been planted in the eastern states of Vic/NSW/Qld and about 40% crop planted in WA. 

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Pulses Market Update (03/05/2023)  

Minimal Trade demand for Australian Lentils from India. Trade offers as low as USD 690 CFR Kolkata bulk in containers with limited buyer interest. 

Australia sees strong demand for Desi Chickpeas last week in Pakistan. Prices have jumped from USD 520 levels to USD 570 CFR Karachi in containers in the last 2 weeks. Demand ongoing with supplies are limited, however with Pak purchasing significant tonnage Russian YP at USD 390 CFR Karachi bulk in containers – there seems to be limited appetite for Desi Chickpeas above the USD 570 mark. 

Kabuli demand has waned in Pak due to adequate supplies ex Russia. Australia Kabulis min.30%8mm priced around USD 995 CFR Karachi bulk in containers. 

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Australia Origin Pulse Market Update (26/04/2023) 

Weather outlook for Australia planting is favourable with pulses winter crop planting starting now and continuing through to June end. Soil moisture for plating in growing areas of SA (above average), VIC (above average), NSW (adequate) & QLD (adequate), WA (dry). Forecasted El Nino in next 3 months may impact growing conditions on the east coast if low incrop rainfall eventuates as a result. 

Desi Chickpeas demand was strong last week trading CFR Karachi over U$550 for chkm, somewhat subdued this week back by $10 and low demand seen. Liquidity on sell side remains tight due to ongoing macro trade issues. Middle East & Bangladesh markets are still slow with very little demand emanating. 

Some Australian Kabuli demand last weeks from Pakistan in light of tight availability ex CIS origin. Australian Kabuli very lastly available CFR Karachi – USD 980 pmt, very limited availability in origin, however. 

Lentils & Faba Beans demand is minimal in India. Sellers seen at around early U$700 CFR Kolkata but no parity from origin side yet due to less grower selling. 

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