FI Evening Grain Comments 03/14/22

PDF Attached does not include daily estimate of funds as they were NA. 

 

Private
exporters reported sales of 159,000 metric tons of corn for delivery to Mexico during the 2021/2022 marketing year.

 

Day
19.  WTI crude oil was more than $7.00/barrel lower, USD down 17, US equities lower around 1:45 pm CT.  The soybean complex ended mixed. Soybean meal hit a 7-year high. Soybeans and oil ended lower. Corn and Chicago wheat were lower while higher protein wheat
mixed.

 

Weather

 

World
Weather Inc.

WEATHER
EVENTS AND FEATURES TO WATCH

• Not
  much change occurred around the world today relative to that of Sunday.
• U.S.
  weather during the weekend was relatively tranquil, although rain in the southeastern states was locally heavy
  
• Rainfall
  reached over 5.00 inches in northeastern Florida
• Rainfall
  in the Carolinas and Virginia varied from 0.76 to 1.56 inches
• Georgia
  and Alabama received 0.33 to 1.07 inches
• Net
  drying occurred in the heart of the Midwest and in much of the central and northern Plains and areas southwest into California and the southwestern desert region
• U.S.
  temperatures turned cold in the Gulf of Mexico States with frost occurring along the coast and freezes into northern Florida. Lows in the teens and 20s occurred in the Mid-south region and interior southeastern states as well as in parts of Texas and Oklahoma
• The
  cold burned back vegetative growth in many crops
• Damage
  was done to flowering fruit trees and other fruit and vegetable crops grown near the ground in the southern states.
  
• Single
  digit and teen lows were noted in the central Plains and western Midwest, though little crop damage resulted due to snow cover in the more susceptible crop areas
• Strong
  warming was already noted Saturday afternoon and Sunday in the Plains with highs rising into the 60s and 70s Fahrenheit
  
• Saturday
  morning was coldest in the Plains while the southeastern states were coldest Sunday
• U.S.
  hard red winter wheat areas will get some needed moisture Thursday in the central Plains with follow up precipitation in the southern Plains during mid-week next week
• Moisture
  totals will vary from 0.05 to 0.60 inch in the first event this week with another 0.20 to 0.75 inch elsewhere across the region early next week.
  
• Some
  of the rain next week will be locally greater surpassing 1.00 inch, according the GFS and ECMWF model runs today, but World Weather, Inc. believes the rain intensity is overdone.
  
• The
  southwestern Plains should continue to be missed by “significant” rain
• Temperatures
  will frequently be warmer than usual during the next ten days to two weeks keeping evaporation rates higher than usual and temperatures warm enough to bring some southern crops out of dormancy.
  
• West
  and South Texas precipitation should be minimal for the next ten days
• Texas
  Coastal Bend crop areas are also unlikely to experience much precipitation of significance
• U.S.
  Delta and Southeastern states will continue to experience periodic rainfall during the next ten days to two weeks
• Soil
  moisture will be great enough to ease recent dryness in the southeastern states
• There
  will be breaks in the rain at which time spring planting is expected
• Temperatures
  will be near to above normal
• U.S.
  Interior Northwestern states are unlikely to experience much rain, but the mountains on either side of the Yakima and Colombia River Valleys will get some rain and mountain snowfall
  
• Temperatures
  will be near to above normal

                                                                                                          

• California
  is not likely to get much precipitation for a while, although the Sierra Nevada range may get some snow and rain briefly Tuesday and again this weekend
  
• U.S.
  northwestern Plains and southwestern Canada’s Prairies are unlikely to get much rain or snow through the next two weeks
• Argentina
  is not advertised to receive much rain over the next nine days
• Temperatures
  will be near to below average at times which may help conserve soil moisture through slower evaporation
• Net
  drying is still expected
• Subsoil
  moisture remains favorably rated for now, but there will be a growing need for moisture later this month to support late season soybean, corn and peanuts production potential
• Argentina
  weekend precipitation was minimal, although up to 0.50 inch occurred in northeastern La Pampa
• Highest
  temperatures were in the 70s and lower 80s Fahrenheit followed by lowest readings s in the 40s and 50s
  
• Brazil
  weekend rainfall was greatest from Santa Catarina to southern Minas Gerais and northwest into Mato Gross and Mato Grosso do Sul.
  
• Rain
  totals varied from 1.00 to 3.00 inches across much of the region with a few totals of 3.00 to 4.35 inches.
  
• The
  rain was greater than expected and more disruptive to farming activity
• Southern
  and far northeastern Brazil failed to get enough rain to counter evaporation.
  
• Temperatures
  were seasonable
• Brazil
  weather over the next ten days to two weeks will be favorably mixed resulting in good ongoing crop development
• Brazil
  Safrinha crops should move into the dry season with abundant soil moisture,
  although the dry season is still several weeks away
• Late
  full season crops and Safrinha crops are expected to perform well over the next two weeks
• Temperatures
  will be seasonable
• Australia
  weather will be good for its summer sorghum, cotton and other crops during the next two weeks
• Showers
  will occur infrequently and lightly
• Temperatures
  will trend warmer than usual overtime and that might result in faster drying rates in parts of the south
• No
  area will become too dry and no threats to production over those of earlier this growing season are expected
• South
  Africa weekend precipitation was mostly confined to the western part of the nation outside of summer crop areas
• Net
  drying occurred in sorghum, cotton, soybean, peanut and sunseed production areas supporting crop maturation and harvest progress
• Temperatures
  were seasonably warm
• South
  Africa will experience periodic showers and thunderstorms through the next two weeks with all crop areas impacted at one time or another
• The
  more infrequent rainfall advertised will be ideal for advancing summer crops into maturation and early harvesting.  Showers will be good for the late maturing crops
• Rain
  developed in Western Europe during the weekend as expected impacting areas from the Iberian Peninsula to the United Kingdom leaving the remainder of Europe dry
• Rain
  totals were mostly less than 1.00 inch except in southern France and northeastern and far southwestern Spain where more than 2.00 inches resulted
• Other
  areas in Europe were dry
• Temperatures
  were mild to cool in the east and a little warmer in the west, but not warmer than usual
• Europe
  weather over the next ten days will be wettest in the south from southern France, Italy and a part of the Balkan countries into Spain and Portugal
• Significant
  relief from dryness is expected in Spain, Portugal and parts of both France and Spain
• Temperatures
  will be near normal except in southeastern Europe where they will be cooler than usual
• Central
  and northeastern Europe will need a boost in precipitation late this month and in April as seasonal warming arrives to ensure a good start to winter crop development
• The
  lack of precipitation until then should be irrelevant while crops are dormant or semi-dormant and buried in snow
  
• There
  is not much snow on the ground in eastern Europe, but temperatures are not threatening
• Russia,
  Ukraine and immediate neighboring areas will be kept quite cool over the next ten days.
  
• Snow
  cover should protect dormant winter crops from the coldest conditions
• There
  will soon be need for warming and snow melt, but as long as it stays bitterly cold the snow cover is imperative in keeping winter crops adequately protected from the cold
• Warming
  and some rain and snow increases are likely after March 23
• CIS
  weekend precipitation was limited while temperatures were mild to cool
• Highest
  temperatures were in the 30s and 40s Fahrenheit in northwestern Russia, the Baltic States, Belarus and western Ukraine while in the teens and 20s in most other areas
• Lowest
  morning temperatures were below zero Fahrenheit from the snow-covered areas of northeastern Ukraine into the eastern Russia New Lands and Kazakhstan
• Some
  extremes slipped into the -30s and -20s Fahrenheit
• No
  crop damage resulted because of the cold and none was expected for a while either
• North
  Africa reported mostly light rain during the weekend
• Moisture
  totals of 0.05 to 0.20 inch occurred from northern Morocco through northern Algeria to northern Tunisia
• A
  few amounts in the east varied from 0.20 to 1.10 inches
• Most
  of Morocco away from the far northern coast was left dry
• Temperatures
  were near to above normal
• Morocco
  may be the wettest part of North Africa during the coming week to ten days.
  
• The
  precipitation will bolster soil moisture for improved soil moisture and water supply
• Southwestern
  Morocco is in a multi-year drought and no amount of rain will restore production for this year because the planting season is over
• Other
  areas in northern Africa will get a mix of light rain and sunshine along with seasonable temperatures during the next tens
• Turkey
  through Turkmenistan, Uzbekistan, southern Kazakhstan, Tajikistan and areas northeast into the northwestern mountains of Xinjiang, China will experience frequent bouts of rain and snow in the next week
  
• Moisture
  improvements will be great for winter wheat and especially good for future cotton planting
• Xinjiang,
  China snowfall in the mountains will be helpful in raising the snowpack for improved runoff into corn and cotton areas in the nation later this spring and summer
• China
  will experience cooler temperatures in the northeast this week while precipitation ramps up with waves of snow and rain expected
• East-central
  and interior southeastern parts of the nation will get frequent rainfall over the next couple of weeks maintaining wet field conditions in corn, rapeseed, rice and minor cotton areas of the Yangtze River Basin
  
• Some
  early season planting delays are expected in the wettest areas
• India
  is not likely to see much precipitation of significance for a while
• Temperatures
  will be warmer than usual which may accelerate crops through the filling state of development a little faster than usual
• Indonesia
  and Malaysia rainfall will be abundant during the next ten days with rain falling every day in portions of the region
  
• Some
  local flooding will be possible
• Philippines
  rainfall is expected to be frequent and abundant
• Mainland
  areas of Southeast Asia will also experience a near-daily occurrence of rain beginning March 16
• Colombia,
  Ecuador, western Venezuela and parts of Peru will remain plenty wet during the next ten days
• Frequent
  rain is expected
• The
  moisture will be great for coffee and cocoa flowering and well as support of all crops
• Ghana
  and Ivory Coast will receive periodic rain this week and again later next week easing recent dryness and improving the soil for coffee, and cocoa flowering
• The
  precipitation may be a little more erratic than desired outside of Ivory Coast and Ghana in the remainder of west-central Africa.
  
• Greater
  rain will still be needed in interior Nigeria and interior Cameroon as well as some Benin locations, despite a little rain this week
• The
  greatest and most widespread precipitation is expected next week
• East-central
  Africa precipitation has been and will continue to be most significant in Tanzania which is normal for this time of year.
  
• Ethiopia
  is dry biased along with northern Uganda and parts of southwestern Kenya
• Some
  rain will develop in Ethiopia, Kenya and Uganda this week and especially next week
• The
  moisture boost will be welcome.
• Today’s
  Southern Oscillation Index is +9.17 
• The
  index will move higher during the coming week
• Mexico
  will experience seasonable temperatures and a limited amount of rainfall during the coming week; eastern areas will be wettest
• Central
  America precipitation will be greatest along the Caribbean Coast during the next seven to ten days and in both Panama and Costa Rica
• Guatemala
  will also get some showers periodically

Source:
World Weather Inc.

 

Bloomberg
Ag Calendar

Monday,
March 14:

• USDA
  export inspections – corn, soybeans, wheat, 11am
• Ivory
  Coast cocoa arrivals

Tuesday,
March 15:

• New
  Zealand global dairy trade auction
• EU
  weekly grain, oilseed import and export data
• Malaysia’s
  March 1-15 palm oil export data

Wednesday,
March 16:

• EIA
  weekly U.S. ethanol inventories, production, 11am

Thursday,
March 17:

• International
  Grains Council’s monthly market report
• USDA
  weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
• HOLIDAY:
  Bangladesh

Friday,
March 18:

• ICE
  Futures Europe weekly commitments of traders report, ~1:30pm
• CFTC
  commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
• China’s
  second-batch of Feb. imports for corn, pork and wheat
• FranceAgriMer
  weekly update on crop conditions
• HOLIDAY:
  India

Source:
Bloomberg and FI

 

USDA
inspections versus Reuters trade range                                                    

Wheat                 
282,344                 versus   300000-550000  range

Corn                     
1,144,850             versus   1000000-1650000             range

Soybeans           
772,719                 versus   600000-875000  range

 

 

 

GRAINS
INSPECTED AND/OR WEIGHED FOR EXPORT

                 
REPORTED IN WEEK ENDING MAR 10, 2022

                           
— METRIC TONS —

————————————————————————-

                                                  
CURRENT     PREVIOUS 

             ———–
WEEK ENDING ———-  MARKET YEAR  MARKET YEAR

 
GRAIN      03/10/2022  03/03/2022  03/11/2021    TO DATE     TO DATE  

 

BARLEY             
0           0           0       10,010       31,023 

CORN       
1,144,850   1,582,167   2,274,441   25,925,281   30,199,718 

FLAXSEED           
0           0           0          324          509 

MIXED              
0           0           0            0            0 

OATS               
0           0           0          400        3,617 

RYE              
  0           0           0            0            0 

SORGHUM      
258,842     204,845     356,147    3,484,767    4,133,346 

SOYBEANS     
772,719     768,674     548,951   42,150,838   53,323,035 

SUNFLOWER          
0           0           0          432            0 

WHEAT        
282,344     403,187     715,052   16,194,257   19,383,021 

Total      
2,458,755   2,958,873   3,894,591   87,766,309  107,074,269 

————————————————————————-

CROP
MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND

FLAXSEED; 
SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.

INCLUDES
WATERWAY SHIPMENTS TO CANADA.

 

Macros

Russian
Stock Market Trading Halt Extended to March 18

83
Counterparties Take $1.608 Tln At Fed Reverse Repo Op (prev $1.558 Tln, 83 Bids)

Brent
Crude Futures Settle At $106.90/Bbl, Down $5.77 Or 5.12%

 

Corn

·        
CBOT corn traded two-sided on sharply lower WTI crude oil and speculation there might be a breakthrough with Ukraine/Russia peace talks.  $7.2975 is seen for initial support for May corn.  Resistance $782.75, then $8.00-$8.10
area. WTI
crude fell below $100 a barrel for the first time since March 1. Slow US shipments weighted on the front month contracts, but some traders are anticipating an increase in US grain shipments to non-traditional markets due to unavailability of spot Black Sea
supplies. 

·        
The US Grains Council noted there were ships loading 35,000 tons of US corn destined for Spain and 35,000 tons of US corn destined for Italy.
Per export sales report, Italy had 35,000 tons outstanding on the books and Spain didn’t have any commitments.  Spain is considered a renewed market.  The EU has not imported much corn from the US since 2017-18 due to GMO rules.

·        
Spain granted emergency Brazil and Argentina corn buying approval.

·        
USDA US corn export inspections as of March 10, 2022 were 1,144,850 tons, within a range of trade expectations, below 1,582,167 tons previous week and compares to 2,274,441 tons year ago. Major countries included China for 335,921
tons, Mexico for 307,958 tons, and Colombia for 110,106 tons.

·        
China plans to start releasing more than 3 million tons of fertilizer reserves in March. China’s fertilizer output edged up 0.8% to 54.46 million tons in 2021, while exports plummeted 42% from a year ago, according to Reuters.

·        
Brazil’s weather pattern will be mixed over the next two weeks and with abundant rain occurring over the past few weeks, the second corn crop should be fine when entering the dry season that starts around now. 

·        
Brazil had planted 94 percent of its second corn crop as of Monday, according to AgRural, up 20 points from this time last year.

·        
Egypt on Saturday banned corn and wheat exports along with commodities for three months to combat rising food prices.  They have enough wheat to last through the end of the year after buying domestic supplies. 

·        
Ukraine banned exports of fertilizers amid Russian/Ukraine situation.  This adds to a growing list that already includes wheat, corn and sunflower oil.

·        
Ukraine has made several announcements they intend to ensure domestic food security.  Spring plantings normally begin in late February and early March.  Mid-March is a new target the AgMin projected. We are unsure what “safe”
areas will look like for sowings, but it appears the far east and far west will see fieldwork progress. Ukraine’s agriculture producers’ union earned producers will likely reduce corn and oilseed area and plant more cereals such as buckwheat, oats and millet.

·        
Ukraine stockpiles of corn sit at 15 million tons and 6 million for wheat. 

·        
Look out for E15 US blending talk as the spread between RBOB and ethanol widened out to over 70 cents last week. 

·        
Canada granted imports of Brazil beef and pork.

·        
USDA reported highly lethal bird flu at a commercial flock of egg-laying chickens in Jefferson County, Wisconsin.

 

Export
developments.

• USDA:
  Private
  exporters reported sales of 159,000 metric tons of corn for delivery to Mexico during the 2021/2022 marketing year.
• Egypt’s
  GASC seeks a minimum 1000 tons of frozen whole chicken and minimum 500 tons of chicken thighs on March 17 for arrival during the April 1-15, 16-30, May 1-15, 16-31 periods. 
   
• Results
  awaited: Iran’s SLAL seeks up to 60,000 tons of feed barley, 60,000 tons of feed corn and 60,000 tons of soymeal for March and April shipment.

 

 

Updated
3/14/22

May
corn is seen in a $6.75 and $8.40 range (up 25, down 10 cents back end) 

December
corn is seen in a wide $5.50-$7.50 range

 

Soybeans

·        
The soybean complex was mixed, with soybeans lower, meal higher, and soybean oil sharply lower.  Soybean meal hit a 7-year high on expectations SA product demand will shift to the US. A sharply lower trade in WTI crude oil and
dive in palm oil futures pressured soybean oil. China is releasing vegetable oils out of reserves. Soybeans are mixed/lower from weakness in outside related commodity markets and lower trade on corn & wheat.

·        
Argentina suspended new registrations for soybean meal and soybean oil for export. Speculation is that soybean meal and oil taxes will increase from current 31 percent to 33 percent. One of the local grains exchange said a rise
in export taxes would force up costs and producers threatening (farmer) protests in response. Argentina harvests their soybeans during the April and May period. New-crop producer sales amount to 2.17 million tons through March 2. Reuters: The country (Argentina)
is forecast to account for 41% of global soymeal exports and 48% of world soy oil exports in the 2021-22 crop year, according to the U.S. Department of Agriculture.

·        
Argentina will see net drying over the next ten days. Brazil will see a mixed pattern over the next two weeks.

·        
Brazil 2022 soybean exports were seen by Safras at 78 million tons, down from 86.1 million in 2021. Brazil’s crush was seen at 47.5 million tons versus 46.5 million in 2021. Stocks were pegged at 2.77 million tons at the end of
2022, down 52% from end of 2021. 

·        
USDA US soybean export inspections as of March 10, 2022 were 772,719 tons, within a range of trade expectations, above 768,674 tons previous week and compares to 548,951 tons year ago. Major countries included China for 388,125
tons, Mexico for 111,575 tons, and Indonesia for 93,136 tons.

·        
Today China planned to sell 295,596 tons of soybeans from reserves.

·        
Egypt on Saturday banned vegetable oil exports along with other food staples including corn, wheat, flour, past, lentils and fava beans, for three months to combat rising food prices. 

·        
Palm oil futures traded sharply lower on Monday after China plans to release cooking oils out of stockpiles and demand destruction.

·        
China’s Sinograin plans to auction 4,066 tons of rapeseed oil produced in 2020 Thursday afternoon. They sold 10,778 tons of rapeseed oil, accounting for 10% of the volume it planned to sell, last Friday. 

·        
India February palm oil imports fell to a 12-month low at 454,794 tons, down from 553,084 tons month earlier and compares to 391,158 tons for February 2021. India soybean oil imports during February were 376,594 tons, down from
391,158 tons in January.  Port stocks as of end-February dipped to their lowest since May 2021. 

·        
(Bloomberg) — Turkish ships carrying sunflower oil have been permitted to exit the Azov Sea, Turkey’s Transportation Minister Adil Karaismailoglu said, after transit in the waterway linked to the Black Sea was suspended following
Russia’s attack on Ukraine.

·        
Russia will raise its export tax for sunflower oil to $313/ton for April, up from $260.10/ton in March.

·        
A Reuters NOPA survey calls for the February US crush to end up near 165.0 million bushels (162.0-169.1 million range), down from 182.2 million last month, but up 6.4% percent a year earlier of 155.2 million. The record for the
month of February was 166.3 back in 2020.  If the 165.0-million-bushel trade estimate for February 2022 is realized, that would put the daily crush 0.3% above January. End of February soybean oil stocks were estimated at 1.985 billion pounds, down from 2.026
billion at the end of January and well up from 1.757 billion year earlier.  Trade range was from 1.900 to 2.036 billion pounds.  End of January stocks slightly dipped from end of December. 

 

 

Export
Developments

• Last
  week the Foreign Ag Service reported the purchase on 13,620 tons of soybean meal under the Food For Progress export program. Price paid was reported at $616.96 per ton. Delivery was set for Apr 1-10.
• Results
  awaited: Iran’s state purchasing agency GTC has issued an international tender to purchase about 30,000 tons of soyoil for March and April shipment.
  

 

Updated
3/14/22

Soybeans
– May $16.00-$18.00 (up 25, down 25)

Soybeans
– November is seen in a wide $12.50-$16.00 range

Soybean
meal – May $430-$520 (up $5, unch)

Soybean
oil – May 72.00-79.00
(unch, down 100)

 

 

 

Wheat

·        
Volatile session for US wheat futures. Chicago ended lower while KC and MN settled mixed.

·        
Forecast for rainfall across the US HRW wheat country were weighing on prices earlier in the day. During the day session Russia announced they are mulling over a grain export ban (all countries) until June 30.  The potential ban
includes wheat, corn, barley and rye. Later in the morning Deputy Prime Minister Viktoria Abramchenko on social media said Russian grain exports will still be possible.

·        
Around 9:20 am CT, US wheat futures rocketed higher. Initially 1300 lots of May Chicago wheat traded, and within five minutes wheat rallied 30 cents.  Apparently, the trade thought the buying was overdone.

·        
Russia has a history banning or limiting grain exports late in the crop year to ensure there is enough domestic supplies and/or keep prices in check, before new-crop comes online.

·        
Remember on March 10, Russia already announced a ban on wheat, corn, rye, barley and meslin exports to Eurasian Economic Union until Aug 31.

·        
Some traders look for business to shift the US for high protein wheat. 

 

10-Min
May Chicago wheat chart

 

·        
May Paris wheat futures closed 9.25 higher or 2.4% at 380.00 euros ($417.09) a ton.

·        
USDA US all-wheat export inspections as of March 10, 2022 were 282,344 tons, below a range of trade expectations, below 403,187 tons previous week and compares to 715,052 tons year ago. Major countries included Mexico for 95,214
tons, Burma for 57,894 tons, and Philippines for 35,189 tons.

·        
U.S. hard red winter wheat areas will see rain Thursday in the central Plains with additional precipitation in the southern Plains during mid-week next week. Totals will vary from trace amounts to 0.6” in the first event this
week with another 0.20 to 0.75 inch elsewhere next week. The southwestern Plains may miss out on the event.

·        
China sold 525,869 tons of wheat out of auction on March 9 at an average price of 2,991 yuan per ton ($471.16/ton).

·        
Egypt will soon unload 189,000 tons of Black Sea wheat that was previously contracted, from Russia, Romania and Ukraine, according to a Rueters article.  We are unsure if the wheat was already loaded onto vessels awaiting to leave
the ports or if the wheat was recently loaded.  On March 8 Egypt received a shipment of 63,000 tons of French wheat.  They also received a similar amount of Romanian wheat on March 5.

·        
Egypt looks to produce more than 6 million tons of wheat this season that starts April.  They produce on average a total 8.5 million tons a year.

·        
Algeria banned exporting sugar, vegetable oils, pasta, semolina and wheat derivatives.

·        
Iraq’s strategic wheat reserves are sufficient until next month, which is when the local procurement season starts.  They opened a new import tender for hard wheat and are currently reviewing American and German offers for an
import tender that was set to close last week.

 

 

 

Ukraine-Russia
Conflict – Agricultural Ramifications

K-State
College of Agriculture had an excellent online conference last week over the Ukraine-Russia situation. Presentations are available here…

https://agmanager.info/2022-risk-and-profit-online-mini-conference-presentations

 

Export
Developments.

·        
Turkey’s TMO seeks 270,000 tons of milling wheat on March 17 for March 25 – April 22 shipment.

·        
Algeria seeks 50,000 tons of barley on Thursday, March 17, for April 1-15 and April 16-30 shipment.

·        
Iraq’s trade ministry seeks 50,000 tons of optional origin hard wheat on March 17, open until the 22^nd.

·        
Results awaited: Jordan’s state grains buyer seeks 120,000 tons of feed barley on March 15.  Shipment is between July 16-31, Aug. 1-15, Aug. 16-31 and Sept. 1-15.

·        
Bangladesh seeks 50,000 tons of milling wheat on March 16 for shipment within 40 days of contract signing. 

·        
Japan’s AgMin in a SBS import tender on March 16 seeks 80,000 tons of feed wheat and 100,000 tons of feed barley for arrival by Aug. 25. 

·        
Jordan seeks 120,000 tons of wheat on March 16. Possible shipment combinations are for May 16-31, June 16-30, July 1-15 and July 16-31.

 

Rice/Other

·        
None reported

 

Updated
3/14/22

Chicago
May $9.35 to $12.50 range

KC
May $9.25 to $12.50 range

MN
May $10.00‐$13.00