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Asia Grains-Australia sells wheat, Indian soymeal prices rise

* Australia sells wheat to Indonesia, Malaysia

* Indian soymeal prices rise on stronger rupee

* Spread between Indian-LatAm soymeal narrows

By Pankaj Katba

SINGAPORE, Sept 20 (Reuters) - Australian exporters sold wheat to millers in Indonesia and Malaysia this week, while a strengthening Indian rupee lifted soymeal prices for exports from the South Asian country.

New-crop Australian standard wheat was quoted around $300-$310 a tonne, including cost and freight to Southeast Asia, up around $10 from last week. Australian prime wheat was being offered around $315-$317 a tonne and Australian hard wheat at $330 a tonne.

"Australian wheat has been traded in Southeast Asia in the last few days as prices are firming up on strong global demand," said one Singapore-based trader.

Chicago wheat futures have gained almost 5 percent this week, its biggest weekly gain in 14 months, driven by strong global demand for the grain.

U.S. exporters loaded and shipped more wheat last week to global buyers than in any week in at least the past 23 years, with most of the grain headed for China and Brazil, according to U.S. Department of Agriculture data.

Exporters shipped 1.204 million tonnes of U.S. wheat in the week ended Sept. 12, including 406,700 tonnes of mostly soft red winter wheat and white wheat to China, and 186,400 tonnes of hard red winter wheat to Brazil, data going back to 1990 showed.

Australian wheat is also in strong demand as its spread with Black Sea wheat has narrowed in Asia, traders said. Australian standard wheat is selling at premium of $12-$15 to Black Sea wheat, down from a spread of $30 a tonne a couple of weeks ago.

"Mills in Southeast Asian will any day prefer Australian wheat to Black Sea wheat at the current price difference," said one Sydney-based trader.

Japan's Ministry of Agriculture bought 108,901 tonnes of food wheat from the United States, Canada and Australia in a regular tender this week.

INDIAN SOYMEAL FIRMS ON STRONG RUPEE

In the feed grains market, Indian soymeal was being offered for export this week at higher prices as the rupee strengthened against the dollar.

Indian soymeal has risen to $515 a tonne, free alongside ship, compared with $500-$505 last week, while rival South American soymeal values have eased following a decline in the U.S.futures.

U.S. soymeal futures slid more than 5 percent this week, tracking weakness in the soybean market, which lost ground on forecasts for crop-friendly weather that is expected to aid the development of late-planted soybeans.

The Indian rupee hit its highest in nearly five weeks on Thursday, as the U.S. Federal Reserve's decision not to dial back its easy money policy is expected to provide a reprieve to the local central bank in its policy making.

This has narrowed the spread between Indian and South American soymeal prices to around $20 a tonne from $35 a tonne last week.

"Indian soymeal is still attractive but the firming rupee has eroded its attractiveness," said another Singapore-based grains trader. "Buyers will still take Indian meal but sales might slow down."

Asian grain buyers are keeping a close watch on U.S. corn and soybean harvests, which are likely to influence prices. "People are looking at yields from early harvests and corn looks to be every good," the first Singapore trader said. 

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Thanks & Best Regards

Pankaj Katba

Feed Grain Agri Brokers  

(International Brokers / Buyers sourcing agent for Milling Wheat, Maize, Millet, Rice, Sugar Barley & Rape Seed Meal)​

905, Star Plaza,  Phulchhab Chowk , Rajkot 360 001 Gujarat – INDIA

Tel       : +91 -281- 3065002 Fax: +91 -281- 3065002

Cell No : +91-88-6666-3400, +91-98246 -01900, +91 99251-77699

E-mail  :  Pankaj@FeedGrainAgri.com  & FeedGrainAgri@Gmail.com

MSN    :  FeedGrain@Hotmail.com

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Web     :  www.FeedGrainAgri.com

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The World's Biggest Wheat Exporting Countries

By.. Pankaj Katba

Agricultural prices are rising on the back of rampant speculation and weather conditions that have slammed output worldwide. This isn't just hitting market, but is pushing up prices at grocery stores and restaurants too.

The rise in wheat prices is going to have a negative impact on countries that import large amounts of wheat, like Egypt.

But in countries that export the stuff, high prices might mean big returns for producers.

And with the USDA forecasting a 10% decline in global inventories, due to reduced planting in Russia, those making wheat should continue to benefit from higher prices.

Many of the top exporters consume large amounts domestically, and foresee weak harvests in 2011 due to bad weather.

#10 Brazil

USDA

Export: 1.1 million tons

Domestic consumption: 8.8 million tons

Key export market: The Middle East and North Africa (MENA) namely Algeria, Libya, Tunisia and Egypt account for a majority of Brazilian wheat imports.

Outlook: In an attempt to reduce its dependency on imports, the Brazilian government is looking to double its wheat output in 5 years by promoting wheat planting in the Cerrado region, according to Bloomberg. The country's per capita demand for wheat is expected to rise 7% to 56 kg per person by 2018.

Export figures and consumption data provided by the USDA

#9 Turkey

Wikimedia Commons

Export: 3 million tons

Domestic consumption: 16.5 million tons

Key export market: Indonesia is one of the biggest importers of Turkish wheat but is also accusing Turkish companies of "wheat dumping".

Outlook: Turkey's 19 million ton wheat output in 2010 was lower than 2009 levels but enough for domestic consumption. In 2011, Turkey issued tenders to buy wheat according to Reuters. Wheat has also been getting reduced acreage as farmers are switching to other crops.

Export figures and consumption data provided by the USDA

#8 Russia

AP

Export: 4 million tons

Domestic consumption: 38 million tons

Key export market: Russia largely exports to the Middle East and North Africa; Egypt is its largest wheat export market followed by Turkey, Syria, Iran and Libya.

Outlook: Last summer's drought has cut wheat plantings and the Kremlin has banned exports of the crop. Plantings are expected to fall 2.3% to 64.2 million acres this year according to Bloomberg.

Export figures and consumption data provided by the USDA

#7 Kazakhstan

Wikimedia Commons

Export: 5 million tons

Domestic consumption: 4.8 million tons

Key export market: South-East Asia and China are some of Kazakhstan's biggest export wheat markets.

Outlook: Kazakhstan's wheat crop was hurt last year by dry weather and the country put in place restrictions on exports to curb domestic price inflation. Wheat prices increased 12.4% in the January-March period of 2011, according to AgriMarket.Info. 

Export figures and consumption data provided by the USDA

#6 Ukraine

AP

Export: 5.5 million tons

Domestic consumption: 14.1 million tons

Key export market: The Middle East and North Africa, primarily Egypt, is the biggest importer of Ukrainian wheat.

Outlook: Ukraine imposed restrictions on grain exports in October of last year but the country's Prime minister said the country will do away with the restrictions if the country has a good harvest. Germany and the American Chamber of Commerce have asked the country to stop legislation that would affect state control over grains exports.  

Export figures and consumption data provided by the USDA

#5 Argentina

Wikimedia Commons

Export: 8.5 million tons

Domestic consumption: 4.4 million tons

Key export market: Brazil and India are some of the biggest importers of Argentine wheat.

Outlook: The International Grains Council expects Argentina's wheat production to fall 10% in 2011-2012 to 13 million tons, according to High Plains Journal.

Export figures and consumption data provided by the USDA

#4 Australia

AP

Australian farmers plant wheat on a family farm

Export: 13.5 million tons

Domestic consumption: 4.5 million tons

Key export market: Indonesia and China are some of the biggest importers of Australian wheat.

Outlook: Australia could export as much as 15 million tonnes of the wheat on growing demand for the grain. The Australian Bureau of Agricultural and Resource Economics and Sciences expects a 24.3 million tonne harvest this year but expectations are that the crop output in Western Australia will lag projections, according to IIFL.com.

Export figures and consumption data provided by the USDA

#3 Canada

AP

Export: 17.5 million tons

Domestic consumption: 7.9 million tons

Key export market: China, Japan, Iran, US and South Korea are the biggest importers of Canadian wheat.

Outlook: Fears of flooding have led Canada to cut expectations for its wheat harvest to 24.5 million tonnes this year. That's higher than previous harvests, but 400,000 tonnes lower than projected, according to Agrimoney.com.

Export figures and consumption data provided by the USDA

#2 France

Wikimedia Commons

Export: 19.2 million tons

Domestic consumption: 18.5 million tons

Key export market: North Africa, specifically Egypt, Algeria, and Morocco form France's biggest wheat market. Civil unrest in the Middle East has seen a boost in exports to the region.

Outlook: France will reap 35.8 million tons of soft wheat used in bread, baked goods and animal feed. That's 0.3 percent more than in 2010, according to Bloomberg. France has profited from Russia's ban on exports.

Export figures provided by FranceAgriMer and consumption data provided by the USDA

#1 USA

Export: 35.4 million tons

Domestic consumption: 35.7 million tons

Key export market: Japan, Nigeria, Mexico and the Philippines are America's largest wheat export markets.

Outlook: Dry weather in the south and possible flooding in the North are expected hurt wheat production. The USDA only rated 37% of the winter crop "good or excellent" compared to 65% last year according to Bloomberg.

Export figures and consumption data provided by the USDA

Thanks & Best Regards

Pankaj Katba

Feed Grain Agri Brokers  

(International Brokers / Buyers sourcing agent for Milling Wheat, Maize, Millet, Rice, Sugar Barley & Repe Seed Meal)

905, Star Plaza,  Phulchhab Chowk , Rajkot 360 001 Gujarat – INDIA

Tel       : +91 -281- 3065002 Fax: +91 -281- 3065002

Cell No : +91-88-6666-3400, +91-98246 -01900, +91 99251-77699

E-mail  :  Pankaj@FeedGrainAgri.com  & FeedGrainAgri@Gmail.com

MSN    :  FeedGrain@Hotmail.com

Skype  :  FeedGrainAgri BBM PIN:26DD706F What's up / Viber: +918866663400

Web     :  www.FeedGrainAgri.com

Blog     :  www.FeedGrainAgri.Blogspot.in