Grain markets eased further on Friday.
- Chicago December 2024 wheat down US10c/bu to 599.75c/bu;
- Kansas Dec 2024 wheat down 11.75c/bu to 603.25c/bu;
- Minneapolis Dec 2024 wheat down 9.25c/bu to 636.75c/bu;
- MATIF wheat Dec 2024 down €1.50/t to €233.50/t;
- Corn Dec 2024 down 3.5c/bu to 453.25c/bu;
- Soybeans Nov 2024 up 3.25c/bu to 1120c/bu;
- Winnipeg canola Nov 2024 up C$4.40/t to C$622.50/t;
- MATIF rapeseed Nov 2024 down €0.25/t to €471.75/t;
- ASX Jan 2025 wheat down A$3/t to $356/t;
- ASX Jan 2025 barley unchanged at $A303.90/t;
- AUD dollar down 15 points to US$0.6641.
International
Buenos Aires Grain Exchange reports that for the week ending 19 June, 2023-24 maize harvest was 49pc complete (44pc previous year), with progress concentrated in central and northern regions, with production unchanged at 46.5Mt. Soybean harvest was 98pc complete (99pc), production at 50.5Mt. Sorghum harvest 61pc complete, production unchanged at 3.5Mt. 2024-25 wheat planting 66pc complete (58pc), with area planted seen marginally higher than before, at 6.3 million hectares reflecting the potential for better returns.
The Saskatchewan Crop Report for the week ending 17 June, notes spring planting was 99pc complete (100pc previous year) but cool and wet conditions are delaying crop development. Significant rainfall was received in some regions over the week, which supported growth in some areas, but caused stress and disease in regions that received excess moisture, with producers applying fungicides to slow the spread of disease. Pests are also reportedly causing crop damage.
FranceAgriMer reports that as at 17 June, the 2024-25 common wheat crop was rated 62pc good/excellent (62pc previous week, 83pc previous year), durum at 63pc (63pc, 77pc), winter barley at 64pc (65pc, 84pc), spring barley at 73pc (75pc, 78pc) and maize at 81pc (80pc, 85pc). Maize plantings 99pc complete (99pc previous year).
Japan’s MAFF purchased 84,667t milling wheat in last week’s regular tender, including 21,967t WW and 7,650t DNS from the US, 32,590t CWRS (13.5pc) from Canada and 22,460t ASW from Australia.
Thailand Feed Millers Assoc. reportedly purchased 60kt of feed wheat from the Ukraine, at $267.98/t c&f liner out, for Aug-Dec shipment. With loading expected to take place at Romania’s Constanta port.
Australia
In local markets, Friday saw a softer tone again to close the week, with the ASX Jan 25 contract closing down A$3/t at $356/t. Again liquidity was strangled as the grower is not interested in engaging at this stage.
Another case of High Pathogenic Avian Influenza (HPAI) has been detected at a NSW poultry farm in the Hawkesbury biosecurity control zone after the first case was detected nearby on June 19. Around 330,000 birds will be destroyed across the two sites. It is not the same strain that has been detected in Vic and testing has shown that the NSW cases are not H5N1 strain that is causing concern globally.
Weekly rainfall totals to 23 June saw most of the Eyre Peninsula pick up 5-25mm, while SA’s northern and eastern cropping regions picked up less than 10mm. Victoria and southern NSW picked up less than 10mm, while rain in WA was very patchy with totals not amounting to much for most major cropping regions (although WA has picked up more showers in the last 24 hours). The current 8-day forecast has a widespread 10-25mm for WA and 5-25mm for most cropping regions in SA, Vic and NSW. Qld currently has less than 10mm on the forecast.
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