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IKAR in Mass MediaNorth American Grain and Oilseed Review: Canola down, but off from its lows15 апреля 2021 года WINNIPEG, April 12 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Monday, but recovered from larger declines. While the rain and snow on the Prairies provided much needed moisture, the amounts are unlikely to change the dry conditions across much of the region. Tight supplies continued to support old crop canola values. The dryness underpinned new crop values, but tempered by the strong likelihood of increased canola acres being planted this spring. There were moderate losses in Malaysian palm oil and significant declines in Chicago soybeans and soyoil that weighed on canola values. European rapeseed was weaker in its May contract, there were small gains in the other active months. At mid-afternoon the Canadian dollar was slightly lower, with the loonie at 79.61 U.S. cents compared to Friday’s close of 79.72. There were 19,711 contracts traded on Monday, which compares with Friday when 24,348 contracts changed hands. Spreading accounted for 12,010 contracts traded. Settlement prices are in Canadian dollars per metric tonne. Price Change SOYBEAN futures at the Chicago Board of Trade (CBOT) were weaker on Monday, as the funds liquidated some of their long positions. The United States Department of Agriculture (USDA) reported two private sales of soybeans. One was for 132,000 tonnes to China with delivery during the coming marketing year. The second was for 110,000 tonnes to Bangladesh, with half delivered during 2020/21 and the other half in 2021/22. In the export inspections report for the week ended April 8, the USDA said 327,799 tonnes of soybeans were shipped, which was 14.8 per cent less than the previous week. To date, the U.S. has exported nearly 54.8 million tonnes of soybeans compared to 32.28 million tonnes a year ago. The Brazilian government has temporarily lowered biofuel blending requirements for diesel from 13 to 10 per cent due to high soybean prices. The measure is for May and June. The USDA attaché in Malaysia pegged that country’s 2020/21 palm production at 19.5 million tonnes, which is 100,000 tonnes below the department’s official estimate. The attaché projected the country’s 2021/22 production at 17.35 million tonnes. CORN futures were lower on Monday, caught up in the downturn in soybeans. Precipitation for the U.S. Plains will help with dry conditions, but the Southern Plains are likely to get more than the Northern Plains. The Corn Belt is to get rain later this week. The USDA reported export inspections of corn were 1.58 million tonnes, down 26.6 per cent from the previous week. The year-to-date exports were almost 37.58 million tonnes and 82.3 per cent ahead of this time last year. In South America, dryness in southern Brazil remains a concern for the corn crop, while Argentina is forecast to receive rain this week. WHEAT futures were weaker on Monday, due to pressure from soybeans and corn. Weather forecasters said any precipitation for North Dakota likely won’t be enough to rectify the state’s dry conditions. The pace of spring wheat planting in the U.S. Northern Plains could determine if more corn or soybean acres will be sown in the region this spring. The USDA is scheduled to issue its weekly crop progress report at 3 pm Central today. The USDA said 458,432 tonnes of wheat were exported, 27.9 per cent less than the previous week. At 21.40 million tonnes, the year-to-date shipments are slightly below those a year ago. IKAR raised its projection for the 2021 Russian wheat crop from 79.8 million tonnes to 81 million. SovEcon has called for 80.67 million tonnes. The National Grain Trade Center in China reported it suctioned 515,209 tonnes of wheat from state reserves last week. Source: MarketsFarm | #grain #oilseeds | Comments: 0 Views: 78
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