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.

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.

To read the full report please click the below link.

Weekly Report 15_11_14