This week is the WASDE report week (12 Sep 2023) and the trade will be looking at the report very closely . Prices in lats one week are up on CBOT
Sep USD 184.39/MT; Dec USD 190.38/MT; Mar 2024 USD 196.05/MT and May USD 199.35/MT
FOB prices US Gulf for the period Oct’23 indicated at USD 233/MT; FOB PNW indicated at USD 241/MT. US
Other origin prices were as under (Sep)
Argentina USD 217/MT; Brazil USD 224/MT (Oct); FOB Ukraine USD 186/MT. (There is no grain deal on the horizon and it will be difficult to move the commodities out of Ukraine). Corn harvest has started in Ukraine. Brazil’s food agency (Conab) increased its estimate for the country’s total corn output to 131.8 MMT in 2022/23. Argentina’s 2022/23 corn harvest has concluded with a total production of 34 million mt, compared with the 55 million mt estimated
Barley prices were as under:
France USD 243/MT; Argentina USD 230/MT; Black Sea USD 165/MT; Australia USD 255/MT.
DDGS prices on FOB basis US Gulf were indicated at USD 265/MT,
Mississippi river draft remains a concern, keeping barge prices high.
Source: Amit Sachdeva (U.S. GRAINS COUNCIL)
