Global Ag News for Nov 20

TODAY—- CATTLE ON FEED, COMMITMENTS OF TRADERS

Wheat prices overnight are up 1 1/4 in SRW, up 1/2 in HRW, up 1 1/2 in HRS; Corn is up 4 3/4; Soybeans up 11 1/2; Soymeal up $0.39; Soyoil up 0.14.

For the week so far wheat prices are down 3 1/4 in SRW, down 3 1/2 in HRW, down 6 1/2 in HRS; Corn is up 7 3/4; Soybeans up 29 1/2; Soymeal up $0.45; Soyoil up 1.55. (January crushing margins are down 2 1/2 cent around $1.09 1/4, oil-share is up 0.65% at 32.92%).

For the month to date wheat prices are down 1 1/4 in SRW, up 9 1/4 in HRW, down 2 in HRS; Corn is up 24; Soybeans up 121 1/4; Soymeal up $20.70; Soyoil up 5.05. (January crushing margins down 20 cents at $1.09 1/4, oil-share up 2.18 % at 32.92%).

Chinese Ag futures (JAN 21) Soybeans down 69 yuan ; Soymeal up 13; Soyoil up 8; Palm oil down 72; Corn down 3 — Malaysian Palm is down 54.

Malaysian palm oil prices overnight were down 54 ringgit (-1.62%) at 3288, futures held losses near an eight-year high, with a slump in exports from second-biggest grower Malaysia and a firmer ringgit offsetting the impact of a rally in soybean oil.

Midwest corn, soybean and winter wheat forecasts: West: Mostly dry Thursday. Scattered showers Friday-Sunday, heavier south. Some snow north. Scattered showers Monday night, snow north. Temperatures above to well above normal through Friday, near to above normal Saturday-Sunday, near to below normal Monday. East: Mostly dry Thursday. Scattered showers Friday-Sunday, some snow north. Mostly dry Monday. Temperatures above to well above normal Thursday-Friday, near to above normal Saturday-Sunday, near to below normal Monday. 6 to 10 day outlook: Scattered showers Tuesday-Wednesday, snow north. Mostly dry Thursday. Scattered showers Friday-Saturday. Temperatures above normal west and near to below normal east Tuesday, above normal Wednesday-Friday, near to above normal Saturday.

BRAZIL: Rio Grande do Sul and Parana: Scattered showers Thursday, mostly north. Isolated showers east Friday-Sunday. Mostly dry Monday. Temperatures near to below normal through Saturday, near to above normal Sunday-Monday. Mato Grosso, MGDS and southern Goias: Scattered showers north through Monday. Temperatures near to below normal through Saturday, near normal Sunday-Monday.

ARGENTINA: Cordoba, Santa Fe, Northern Buenos Aires: Isolated showers west through Saturday. Mostly dry Sunday. Scattered showers Monday. Temperatures near normal through Saturday, above normal Sunday-Monday. La Pampa, Southern Buenos Aires: Mostly dry Thursday. Isolated showers west Friday-Saturday. Isolated showers Sunday. Scattered showers Monday. Temperatures near normal through Saturday, above normal Sunday-Monday

The player sheet had funds net seller of 4,000 contracts of SRW Wheat; seller 12,000 Corn; net buyers of 3,000 Soybeans; seller 2,000 Soymeal, and; net buyers of 2,000 lots of Soyoil.

Preliminary changes in futures Open Interest as of November 19 were: SRW Wheat up 2,370 contracts, HRW Wheat up 175, Corn up 412, Soybeans up 4,732, Soymeal down 1,158, Soyoil down 5,347.

There were no changes in registrations Registration total: 109 SRW Wheat contracts; 0 Oats; 1 Corn; 175 Soybeans; 1,743 Soyoil; 193 Soymeal; 113 HRW Wheat.

South Korea’s Feed Leaders Committee (FLC) has issued a tender to purchase 52,000 to 69,000 tonnes of corn from worldwide optional origins. South Korea’s NOFI issued tender for up to 207,000 tonnes of corn closing on Friday.

Thailand flour millers in Thailand this week bought 60,000 tonnes of U.S. wheat for April shipment.

Japan’s Ministry of Agriculture bought 101,854 tonnes of food-quality wheat from the United States and Canada in a regular tender.

Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC,) bought 12,000 tonnes of soyoil in a local tender and cancelled its international tender, traders said. Rising edible oil prices has become a cause of concern for the government. The average prices of all edible oils – groundnut, mustard, vanaspati, soybean, sunflower and palm – have increased, with the spike in the case of palm, soybean and sunflower oils by up to 20-30% in the last one year.

U.S. Winter Wheat Crops in Drought Area Rise to 41%: USDA

Parched Argentine soy boosted by rain, but more moisture ‘urgently’ needed – Reuters News

Argentine soy planting jumped last week, propelled by rains that brought relief to key drought-hit areas, the Buenos Aires Grains Exchange said on Thursday, although many parts of the country remained woefully dry. Nationwide, Argentina has “very tight” ground water reserves, Emilce Terre, head of research at the Rosario grains exchange said, calling the weather outlook uncertain.

 China to remain pork importer for 4-5 years – Danish Crown CEO – Reuters News

Dalian Commodity Exchange will allow foreign investors to trade palm oil futures from Dec. 22, China Securities Regulatory Commission spokeswoman Gao Li says at a briefing.

The US generated more renewable fuel blending credits in October than in September, the EPA said on Thursday. About 1.15 billion ethanol (D6) blending credits were generated in October, up from 1.12 billion in September. About 333 million biodiesel (D4) blending credits were generated last month, down from 437 million the month prior.

French farmers had sown 95% of the expected soft wheat area for next year’s harvest as of Nov. 16, compared with 88% a week earlier, farm office FranceAgriMer said on Friday.

German pig prices fell this week, partly due to a fall in capacity at slaughterhouses as they implement changes to meet higher standards following COVID-19 outbreaks, farming associations said on Thursday. Average German pig prices this week fell to 1.19 euro a kilo from 1.27 euros a kilo last week. The price fall this week is because of reduced slaughterhouse capacity in Germany due to changes to working practices after COVID-19 outbreaks in several meatpacking plants this year, said the association of pig farmers ISN.

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