Deliveries (below) and OI attached.
USDA inspection estimates below
Very hard to speculate market reaction per recent Ukraine/Russia developments but based on EU & Asian markets:
Calls-
Corn 4-7 higher
Wheat 7-12 higher
Soy 11-16 higher
Meal $3-$4 higher
soybean oil 50-80 higher
Feb 20 (Reuters) – Exports of Malaysian palm oil products for February 1 – 20 rose 24.9 percent to 825,193 tons from 660,866 tons shipped during January 1 – 20, cargo surveyor Intertek Testing Services said on Sunday.
(Reuters) – Exports of Malaysian palm oil products for February 1 – 20 rose 29.2 percent to 818,293 tons from 633,531 tons shipped during January 1 – 20, independent inspection company AmSpec Agri Malaysia said on Sunday.
(Reuters) – China sold 508,089 tons of wheat or 96.64% of the total offer at an auction of state reserves held Feb. 16, the National Grain Trade Center said on its website on Monday. The average price of the wheat sold was 2,689 yuan ($425.13) per ton.
(Reuters) – Brazil’s farmers had harvested 33% of the country’s soybean area as of Thursday, against 24% a week earlier and 15% by the same time last year, but still faced widespread weather-related issues, agribusiness consultancy AgRural said on Monday. The top grain-producing state of Mato Grosso has been hit by excessive rain, hurting soybean quality, while Brazil’s southernmost states have been affected by hot, dry weather recently. AgRural forecasts Brazil’s 2021/22 soybean crop at 128.5 million tons, down 17 million tons from its initial forecast, but a new revision is expected in the coming days. On corn, the consultancy said the planting of Brazil’s second crop reached 53% of the area in the Center-South, well ahead of the 24% a year ago. However, fieldwork was also affected by excessive showers in Mato Grosso and by drought in the southern state of Parana.
Feb 21 (Reuters) – Argentina’s grains inspectors began a 24-hour strike on Monday demanding bonus payments, but port activity and shipments of farm products were not affected in the South American country, the top global exporter of processed soybeans. Juan Carlos Peralta, press secretary of the URGARA union, said there was strong compliance with the strike action and that on Monday afternoon the union would hold another assembly to decide whether to extend the strike. “We will continue with the measure if we do not have an answer,” Peralta said.
HAMBURG, Feb 21 (Reuters) – European wheat prices rose on Monday as continued tension between Russia and Ukraine brought more uncertainty over grain exports from the Black Sea region. May wheat BL2K2, the most active contract on the Paris-based Euronext exchange, unofficially closed up 3.00 euros or 1.0% at 278.75 euros ($316.16) a ton.
Feb 21 (Reuters) – Argentina’s 2021/22 soybean and corn crops could see yields continue to decline in the weeks ahead with abundant rains only expected to arrive in mid-March to relieve a lengthy period of dry weather, the Buenos Aires grains exchange said on Monday. Argentina is the world’s top exporter of soybean oil and meal, and the second largest for corn, but has seen harvest forecasts slashed after drought since late last year, impacted by the La Nina climate phenomenon for a second straight year. “Given the double episode of ‘La Nina’ we’re going through, the return of the rains could be delayed until mid-March, causing significant yield losses,” the exchange said in a monthly weather report.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
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Oakbrook Terrace, Il. 60181
W: 312.604.1366
ICE IM: treilly1
Skype: fi.treilly
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Section03_Agricultural_Futures022122.pdf
deliverable-commodities-under-registration022122.xls