Barley Archives | Grain Brokers Australia

Weekly Report 5/2/16

Posted by | Currency, GBA News, Markets, Misc | No Comments

CORN/BARLEY

March 16 CBOT corn futures closed higher at US$3.68 per bushel up 3.0 Usc/bu for the week.

Chart 160205 WR

Brazil’s corn forecast was increased by 1Mt to 83.3Mt in January by CONAB. Exports of corn were also revised up and are expected to reach 29Mt, with high demand due to weak local currency. The lower Brazilian Real supporting local farmers to sell to the export market not the domestic end users.

Informa has raised the Argentine corn crop forecast to 26 million tonnes up 4 million tonnes from their previous estimate of 22 million tonnes.

South African grain association – Grain SA has lowered their initial estimate of corn imports from 5 million tonnes to 3.8 million tonnes.

Barley prices are also lower over the week against reflecting a lack of demand and the firmer AUD.

Chart 160205 WR1

AUSTRALIAN DOLLAR

The Aussie traded at the 72¢ this week for the first time since early January.

The Reserve Bank has left interest rates unchanged at their February 2016 meeting.

Chart 160205 WR2

WEATHER

BOM forecasts rainfall is more likely to be above average across much of the southern half of Australia with the strongest probabilities in the southeast over the next 3 months.

Chart WR 1601293

To read the full report click the below link.

Weekly Report 16_02_05

Weekly Report 2/1/16

Posted by | GBA News, Markets, Misc | No Comments

CORN/BARLEY

In a subdued finish to 2015 corn hit new contract lows of US$3.57 during the week.

March 16 CBOT corn futures closed lower at US$3.58 per bushel down 6.8 Usc/bu for the week.

To avoid national shortages and to slow down rising prices, India will import 0.5Mt of duty free corn, the country’s first overseas imports in 16 years. For the second year in a row, severe drought in India has hindered domestic output. India traditionally is a major exporter of corn to Southeast Asia. The switch in the country’s position could give more trade to other large corn exporters such as US, Brazil and Argentina.

Severe drought conditions currently persist in South Africa is raising concerns, they may have to import corn as early as May if conditions do not improve.

BEANS/CANOLA

Chicago May-16 soybean prices closed at 865.6 USc/bu, down 15Usc/bu in comparison to the previous week.

The condition of Ukraine’s winter rapeseed crop was little changed in the week ending 24 December. A marginal improvement (of 0.4% week-on-week), took the proportion of the crop rated good/satisfactory to 68.6%, down from 80.4% at the same point in time last year.

One of the watch points for oilseed markets over the last week has been the impact of improved weather in Brazil. While dryness remains widespread throughout stretches of northern and north-western Brazil, rains over the last week have helped to improve soil moisture. This has led to pressure for US soybean prices. However, additional rains are still needed to curb dryness in key growing regions.

To read the full report please click the below link.

Weekly Report 16_01_02

Weekly Report 14/11/15

Posted by | GBA News, Markets, Misc | No Comments

CORN/BARLEY

Dec 2015 CBOT corn futures fell by 12.4USc/Bu and settled at US$3.745 per bushel.

Global corn demand was forecast to decrease by 9 MMT and the negative change to the China’s demand profile by 5 MMT was a big contributor to the change. Corn demand was reduced in part due to being substituted with sorghum. The end result was a significant increase in global forecast corn carryout of more than 20MMT.

Aussie barley remains competitive into Asian homes with Western Australian FOB pricing around the US$185 level, Our barley is currently $5 – $10 over working into Saudi at replacement and while some offshore barley interest is coming to the market, no firm numbers have been shown.

BFED Chart 151114

BEANS/CANOLA

Soybean November 15 CBOT futures were unchanged for the week at 878.60USc/bu.

ICE Canola remained unchanged for the week at CA$460.6t

USDA decreased world bean stocks by 2.2 million mt, but increased US production by 2.5 million mt!!

US beans now reported 95% harvested vs. 92% last week. Brazil’s Conab raised its forecast for a the 15/16 bean crop to between 101.2 million and 102.8 million mt – up from 100.1-101.9 million estimated last month.

CAN1 Chart 151114

To read the full report please click the below link.

Weekly Report 15_11_14

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