GRAIN & PRICE WEEKLY REPORT

All grains prices were up sharply this week as dry weather continued to stress crops in the US Plains states and Pacific Northwest (PNW).?

In deed, corn futures this week posted a solid 5% gain despite late session weakness on Friday.?

Soybean futures joined the party with a August futures rallying a total of 5.47%.?

Soy Meal was up 2.57% for the week.

Soybean oil carried the complex, with 9.56% higher.?

Wheat futures, however, were the leader of the week, with MPLS led the way, up 12.65%, Chicago SRW wheat was up 12.6% and KC HRW was 9.68% higher.?

On macro markets, oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet a potential revival in demand as more countries recover from the pandemic.

In fact, Brent crude for September was down 33 cents at $73.14 a barrel closing with a 3% fall this week after two days of heavy declines.

U.S. crude for August fell 19 cent to $71.46 a barrel and declined about 4% this week, the largest weekly decline since March.

Discussions on supply policy within the Organization of the Petroleum Exporting Countries, Russia and other producers, a group called OPEC+, ended without agreement this month after the United Arab Emirates (UAE) objected to extending the output policy beyond April 2022.?

Saudi Arabia and the UAE reached a compromise this week, paving the way for OPEC+ to finalise an agreement that would allow more supply into the market.

In this context, the Baltic Dry Index (BDI), an assessment of the average cost to ship raw materials such as grains, coal, and iron ore, decreased 8% on the week to end at 3,039.

Global stock markets ended lower on Friday as investors grappled with fears of rising inflation and a surge in coronavirus cases while the dollar edged higher after upbeat U.S. retail sales data reaffirmed an economy in strong recovery mode.

The U.S. Dollar Index increased slightly from last week's 92.25 to close at 92.71.

MSCI's all-country world index, a gauge of global shares, closed down 0.62% at 719.17.?

The index scaled a record peak earlier in the week, but lost 0.61% by week's end.

In Europe, the FTSEurofirst 300 index fell 0.38% to 1,754.64.?

European defensive shares rose, with real estate, utilities and healthcare up between 0.5% and 1% as worries about the coronavirus mounted.

The Dow Jones Industrial Average closed down 0.86%, the S&P 500 slid 0.75%, and the Nasdaq Composite lost 0.80%.

For the week, the Dow lost 0.53%, the S&P 500 fell 0.97% and the Nasdaq shed 1.87%.?

The S&P 500 real estate index rose to a record high on Friday.

Coming back on grains market, prices changed trend this week, mainly thanks to a big round of USDA reports.?

On Monday USDA released its monthly Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.?

As expected, they didn't change the soybean situation much at all.

The big surprise to the market was in wheat.

Indeed, USDA cut to all-wheat production this year by dropping the USa average yield by 4.9 bu. to 45.8 bu. per acre.?

As a result, the all-wheat production total is estimated to hit 152 million bushels less than June’s estimate.?

USDA says according to NASS, the biggest issues in wheat are coming from durum and other spring wheat classes, as drought plagues producers in the Northern Plains.

The increase in wheat prices, helped buoy corn prices.?

Monday’s Crop Progress report showed the US corn crop was 26% silking, with the 5-year average at 30%.?

Condition ratings up 1% to 65% gd/ex, with the Brugler500 index 2 points higher at 369.?

On wheat, Crop Progress data showed the winter wheat harvest moving along to 59% harvested, still 6% behind normal.?

The spring wheat crop advanced to 83% headed, now 2% faster than normal, in part due to the warmer/drier conditions.?

Condition ratings continue to deteriorate for HRS, unch at 16% gd/ex but another 9 points lower to 249 on the Brugler500 index (100-500 point scale).?

For reference 98% of the spring wheat crop in in an area experiencing drought.?

About soybeans, Crop Progress data shows 46% of the US soybean crop in the blooming stage, 6% above the normal pace.?

Soybean condition ratings as of July 11 were steady at 59% gd/ex and 355 on the Brugler500 index.?

Export sales data showed old corn crop bookings at just 138,800 MT for the week of July 8.?

Accumulated exports are now 83% of what USDA has forecasted, 1% below the average pace.?

Shipped and unshipped corn sales are still 97% of that figure vs. the 101% 5-year average pace.?

New corn crop sales were just 133,200 MT, though full year forward sales are nearly triple what they were last year.

USDA’s weekly Export Sales report had 21,700 MT of old crop soybean sales through the week that ended 7/8.?

Old crop shipments are now 95% of the USDA number, 7% faster than normal.?

Total commitments are 100% of the USDA projection, vs. 103% normally.?

For new crop, USDA’s report showed 290,800 MT were booked.

This week's U.S. wheat commercial sales of 424,700 metric tons (MT) were up 44% from last week's 290,800 MT and on the high end of trade expectations of between 200,000 MT to 500,000 MT.?

Marketing year-to-date commercial sales for delivery in 2021/22 total 7.1 million metric tons (MMT), 15% lower than last year.?

USDA expects total 2021/22 U.S. wheat exports will reach 23.8 MMT, 12% lower than last year, if realized.

The weekly Commitment of Traders report indicated managed money spec funds cutting another 10,572 contracts from their net long in corn futures and options as of 7/13.?

They were still net long 208,799 contracts on Tuesday.

Commitment of Traders data from Friday indicated managed money spec funds trimmed just 593 contracts in soybeans from their net long position between July 6 to July 13.??

They were net long 82,773 contracts of futures and options on Tuesday afternoon.

Meantime, CFTC data vis the Commitment of Traders report showed spec funds in Chicago wheat expanding their net short by a total of 10,019 contracts in the week ending July 13, taking them to a net short 23,636 contracts.?

In KC HRW, they added just 787 contracts to their net long position for the week, to net long 21,667 contracts.

Going inside the numbers, CBOT soft red winter (SRW) futures rose 84 cents to close at $6.92/bu.?

KCBT hard red winter (HRW) futures were up 52 cents to end at $6.51/bu.?

MGE hard red spring (HRS) futures rose $1.04 to close at $9.17/bu.

CBOT corn futures fell 73 cents to end at $5.56/bu.?

CBOT soybean futures gained 50 cents to close at $14.54/bu.

Hard red spring (HRS) and hard red winter (HRW) basis in both the Gulf and Pacific Northwest (PNW) rose slightly this week as farmer selling remains light due to higher futures prices and uncertainty over wheat proteins.?

Domestic mill demand also supported basis for hard red winter (HRW) as millers see a need to add more HRW to their grist blends.

For the fifth week in a row, offers for SW 9.5% max protein remain limited.?

Corn basis bids weakened across a handful of Midwestern locations Friday, falling as much as 15 cents at an Iowa processor.

Soybean basis bids spilled 10 cents lower at a Nebraska processor while holding steady elsewhere across the central U.S.

From South America, the Rosario Grains Exchange expects that Argentine farmers will harvest 20.5 MMT of wheat in 2021/22 following good weather and increased planting in the Pampas.?

The exchange said wheat planting was 90% complete, with nearly 6.8 million hectares sown, the highest level in 20 years.?

Also Monday’s USDA report, forecasted Argentine wheat production at 20.5 MMT.

Meantime, Argentine farmers have sold 24.5 million tonnes of soybeans grown in the 2020/21 season, after transactions were registered over the last week for 831,300 tonnes, the Agriculture Ministry said on Tuesday in a report with data updated through July 7.

The rhythm of Argentine soybean sales is slower than the previous year's, when by this point in the season 26.9 million tonnes of the oilseed had been sold, according to official data.

Argentina's 2020/21 soybean harvest came in at an estimated 43.5 million tonnes, according to the Buenos Aires Grains Exchange, versus 49 million tonnes in the 2019/20 crop year.

Argentine growers are also harvesting 2020/21 corn.

The ministry said in the report that sales of 32.7 million tonnes of this season's corn crop have been registered so far, 2.3 million tonnes more than had been done at this point last season.

Brazil's center-south second corn crop 20% harvested, AgRural says.

AgRural forecasts Brazilian farmers will harvest 59.1 million tonnes of the second corn crop, down from 75.1 million tonnes last season.

USDA, meantime, did cut the Brazilian total corn crop by 5.5 MMT to 93 MMT, with other private analysts still sub-90.?

Consultancy Safra&Mercado, projects Brazil's soybean area to grow 2.3% in the 2021/22 crop to 39.82 million hectares (98.39 mln acres), a record.

It sees total production next season at 142.24 million tonnes, also a record and 3.7% above this year's output agriculture grains.

In this context, as for July 15,?Argentina Wheat Grade 2 export price, (Up River)?was at $276,?up 3$?from prior week.

Argentina corn feed?jumped 22$?for the week, closing at?$238.

Brazil corn feed?(Paranagua) was at?$269, down?3$?during the week.

Argentina barley feed, was unchanged at?$255.

Argentina soybean?gained?27$?to close at?$544.

Brazil soybean took 27$?finishing the week at?$562.

On European market, French soft wheat shipments outside the European Union finished the 2020/21 season with the lowest monthly volume in at least a decade, while overall 2020/21 exports hit a four-year low.

Soft wheat exports by sea to destinations outside the EU and Britain totalled 122,000 tonnes in June.

Farm office FranceAgriMer has been projecting a four-year low for French soft wheat exports outside the EU in 2020/21, in line with the smallest French harvest in four years last summer.

French barley shipments outside the EU also fell in June, with only one ship carrying 40,700 tonnes of feed barley to China and no malting barley exported outside the EU, the data showed.

Total grain shipments to all destinations from French ports in June - including barley, malting barley, maize, waxy maize and durum wheat - plummeted to 186,800 tonnes, also a record low.

Meantime, France’s farm ministry forecasts a 27.1% increase to the soft wheat crop, citing improved yields, increased planted area, and favorable weather.?

France is the largest wheat-producing country in the EU.?

The forecast calls for 37.1 MMT of soft wheat production this year, 11.2% above the 5-year average said the ministry.

Germany's 2021 wheat crop of all types is expected to increase by 3.2% on the year to 22.80 million tonnes, the country's association of farm cooperatives said in its latest harvest estimate on Wednesday.

The association forecast Germany's 2021 winter rapeseed crop will rise 4.7% from last summer’s crop to 3.68 million tonnes.

In its previous harvest forecast in June, the association had forecast a wheat crop of 22.98 million tonnes and a winter rapeseed crop of 3.67 million tonnes.

On this wake, Stratégie Grains, an EU based analyst, increased production forecasts for EU wheat production in 2021/22.?

The consultancy forecasts 133.0 MMT of soft wheat production in 2021, up from its 131.1 MMT projection made in June and 14.1 MMT above last year’s crop.?

Also for barley, Strategie Grains raised its 2021 crop forecast to 55.0 million tonnes from 53.9 million, still slightly below last year's output of 55.4 million tonnes.

The hefty wheat and barley crops, along with larger expected international demand, would benefit EU shipments this season, it said.

Strategie Grains now expects EU soft wheat exports this season at 31.0 million tonnes, up from 28.6 million tonnes forecast last month and 26.9 million tonnes in 2020/21.

Barley exports were seen at 7.2 million tonnes, up from last month's projection of 6.7 million tonnes and close to last season's 7.3 million tonnes.

Strategie Grains also lifted its estimate for the bloc's maize crop, usually harvested in the autumn.?

The crop is now seen at 65.7 million tonnes, up from 65.3 million tonnes.

However, the flooding in Germany and Belgium this week will undoubtedly alter expectations for EU-27 crop production numbers and has the potential to create regional tightness within that market, says CRM Agri.

Entire communities lay in ruins after swollen rivers swept through towns and villages in the states of North Rhine-Westphalia and Rhineland-Palatinate.

Infrastructure has been destroyed completely, and rebuilding will cost a lot of time and money.

Parts of the river Rhine in south Germany remain closed to shipping on Friday after a rise in water levels, German authorities said.

Heavy rains in France are hurting the country’s soft wheat quality ratings, according to farm office FranceAgriMer.

Through July 12, 76% of the crop is still rated in good-to-excellent condition, but that’s a three-point drop from the prior week.

The pace of harvest is extremely slow, with progress of just 4% (compared with 42% a year ago).

French farm office FranceAgriMer reports that 89% of the country’s corn crop is in good-to-excellent condition through July 12, unchanged from a week ago.

On the other hand, the first cases of African swine fever have been confirmed in farm pigs in Germany, the country's federal agriculture ministry said on Friday.

The disease was confirmed in pigs on two farms in the eastern German state of Brandenburg.

Non-commercial market participants lowered their net long position in Euronext's milling wheat futures and options in the week to July 9, data published by Euronext on Wednesday showed.

Non-commercial participants, which include investment funds and financial institutions, cut their net long position to 89,805 contracts from 111,736 a week earlier, the data showed.

Commercial participants tapered their net short position to 137,531 contracts from 142,106 a week earlier.

Commercials' short positions accounted for 61.3% of the total short position, while commercial long positions accounted for 40.4% of total long positions.

Non-commercial short positions represented 38.5% of total short positions, while non-commercial net long positions accounted for 59.6% of the total longs.

The report covered 99.8% of the open short positions and nearly all of the open long positions in the wheat derivatives.

In Euronext's rapeseed futures and options, non-commercial market participants flipped, going to a net long of 2,357 contracts from a net short of 4,682 a week earlier.

Commercial participants switched to a net short position of 2,752 contracts from a net long position of 481 contracts a week earlier.

In this context,?Matif September wheat futures was 17 euros higer?from last week, closing to?€214,25/t.

Matif corn August futures gained 11,50 euros?to closing the week at?€246,00/t.

Matif rapeseed August futures, sheded 20,25 euros?ending the week at?€547,25/t.

Nov-21 UK feed wheat futures made small gains yesterday, closing up ￡10/t at ￡177.00/t.?

From the Black Sea basin, the heat wave is reaching its peak.?

Temperatures in?southern district?Russia are expected to exceed 40°C for next 4-5 days.?

In central Ukraine, temperatures of 35°C have also been recorded.

Corn is suffering from this excessive heat.

On this wake, the APK-Inform consultancy said that adverse weather conditions in key grain regions could lead to significant losses in Ukraine's barley and wheat harvests.

Meanwhile, Ukrainian farms have harvested 5.5 million tonnes of grain from 8.6% of its sowing area with the yield averaging 4.16 tonne per hectare, the agriculture ministry said on Friday.

The volume includes 2.9 million tonnes of barley, harvested from 27.8% of the area with a yield of 4.29 tonne per hectare, and 2.5 million tonnes of wheat with a yield of 4.11 tonnes, the ministry said.

Ukraine's grain exports rose to 926,000 tonnes in the first half of July, the first month of the new 2021/22 July-June season, up 206,000 tonnes from a year earlier, agriculture ministry data showed on Friday.

That included 248,000 tonnes of wheat, 180,000 tonnes of barley and 488,000 tonnes of corn, the data showed.

Ukraine, plans to thresh around 76 million tonnes of grain in 2021.

The government has said grain exports could rise to 56 million tonnes in the 2021/22 season including 20.7 million tonnes of wheat, 30.7 million tonnes of corn and 4.1 million tonnes of barley.

About prices, Ukrainian?wheat?export?bid prices fell by $11 a tonne over the past week.

The 2021?harvest?'s soft milling wheat with 12.5%?protein?was traded at $219 to $229 FOB Black Sea.

Feed?wheat, has lost $8 a tonne, stood at $215-$225 FOB.

Corn?bid export prices fell by $15 to $263-$273 FOB.

Bid prices for Ukrainian-origin new?crop?barley?fell by $10 to $202-$210 per tonne FOB Black Sea.

Since the start of 2021 and as of July 11 Russia exported agricultural products at the general sum of 15.6 bln USD, up by 18% compared to the same period of 2020, informed Agroexport Center at the Ministry of Agriculture of Russia.

Particularly, Russia increased export of grain by 20% to 4.373 bln USD, fat&oil products by 39% to 3.62 bln USD.

The EU was the leading importer of Russian agricultural products.?

It increased import of Russian products by 33% to 1.921 bln USD.?

Supplies to China declined by 4% to 1.912 bln USD. The export to?

Turkey increased by 12% to 1.808 bln USD, South Korea - by 51% to 1.172 bln USD, Kazakhstan - by 18% to 961 mln USD.

Turkey was the key destination for Russian grain (at the sum of 832 mln USD).?

Grain export to Egypt totaled 653 mln USD.??

Turkey imported Russian fat&oil products at the sum 718 mln USD, China - 599 mln USD.

Meantime, IKAR has cut its forecast for Russia's 2021 wheat crop to 81.5 million to 83 million tonnes on Thursday, due to hot and dry weather in Russia's southern regions.

Also Sovecon decreased wheat crop expectations by 2.3mmt up to 82.3mmt (including Crimea).

Meantime Wasde lowered -1mmt to 85mmt.

On the other hand, Russia's wheat export tax, which Moscow introduced on June 2 and is changing each week, will drop to $35.20 per tonne from July 21-27, according to data from the agriculture ministry.

For barley will increase from $36.9 of past week, to $37,50 while for corn will decrease to $51,60 from 52.2 of prior week.

Indicative prices are $250,40 for wheat, $238,7 for barley and $258,8 for corn respectvely.

And just about prices, Russian?wheat?export?prices per latest data released by IKAR fell last week.

New-crop?Russian?wheat with 12.5%?protein?loading from Black Sea ports and for?supply?in August was $238 a tonne free on board (FOB) at the end of last week, down $4 from the previous week.?

According to Sovecon, the decline was of $12 to $234 a tonne of wheat.?

Barley?tumbled of $20 to $212.?

Domestic 3rd class wheat was at 12,525 roubles/t -650 rbls ($168.53),?European?part of?Russia?excludes delivery (Sovecon);

Sunflower?seeds?was at 37,800 rbls/t -3,125 rbls (Sovecon);

Domestic?sunfloweroil?was at 91,650 rbls/t -8,350 rbls?(Sovecon);

Export sunflower?oil?was at $1,120/t +$5 (Sovecon);

Export sunflower oil?was $1,130/t -$10 (IKAR);

Soybeans?quote 47,800 rbls/t -1,000 rbls (Sovecon).

Kazakhstan’s wheat and barley production outlook slips based on poor weather conditions, according to a Global Agricultural Information Network (GAIN) report from the US Department of Agriculture (USDA).

The USDA lowered its 2021-22 marketing year wheat production estimate to 13.2 million tonnes from 14 million tonnes due to hot, dry weather impacting planting conditions and dry soil.

Despite a decrease in production, exports of the commodity are anticipated to increase slightly to 7.7 million tonnes as high Russian prices are giving Kazakhstani exports of wheat a leg up.

However, a lowered production forecast also has decreased the USDA’s wheat stock estimate for the 2021-22 marketing year to 103,200 tonnes.

The country’s barley production also was challenged with lack of soil moisture issues and dust storms.?

The USDA expects barley production to fall 0.6 million tonnes in the 2021-22 marketing year to 3.4 million tonnes.

Unlike the production estimate, the USDA is forecasting a slight increase in barley exports to 1.2 million tonnes in the 2021-22 marketing year due to slowly recovering exports to Iran and China.??

Barley stocks are expected to rise as the USDA expects low-quality barley not qualified for exports to be held as stocks.?

About 605,000 tonnes of barley stocks are expected for the 2021-22 marketing year.

From the Middle Kingdom, China’s soybean imports in June rose 11.6% from May, customs data showed on Tuesday, continuing the trend of resurgent demand in the world’s top buyer as it strives to meet meal demand for its burgeoning hog herds.

According to the country’s statistics bureau, China harvested more wheat this summer on higher planted area and yields.?

Summer wheat output rose 2% compared to 2020, to 134.0 MMT. Abundant rain may have affected quality, however, said analysts. Planting of wheat was up 1%, its first uptick in six years.?

The statistics bureau said a boost to minimum government purchase prices was one reason for increased planted acres.?

There will be plenty of space to store the additional wheat, as the state grain stockpiler announced plans to add 10.85 MMT of storage capacity.?

Sinograin says they will build 120 storage facilities to align with the state’s strengthened focus on food security.?

China has 650.0 MMT of grain storage capacity, according to state media.

Meantime, China’s exports grew by 32.2% in June compared with a year earlier, up from 27.9% growth in May.

China’s imports grew by 36.7% last month,YoY, down from 51.1% growth in the previous month.

On the other hand, on July 15, Xi'an, Shaanxi, auctioned about 20,000 tons of aged wheat.

Additionally auctioned 14,186 tons of domestic vegetable oil (rotation by purchase and sales rotation) and 17,886 tons of imported vegetable oil.

China also auctioned 23,488 tonnes of imported corn from Ukraine on July 16.

This auction was of non genetically modified corn Ukrainian produced in 2020.

China started selling imported corn from state reserves a month ago in the first such sales for several years to replenish tightening supplies in the market and cool prices.

From Australia, Aussie consumers have focussed their buying attention on central New South Wales, where competitive bids are helping to shift wheat and barley into mills within and beyond the border.

On the Darling Downs of southern Queensland, grain is being sourced from as far south as the Port Kembla zone, and central NSW grain is also heading south to northern Victorian consumers.

While much of Australia’s winter crop has rosy prospects, parts of Victoria and South Australia need rain to bolster their yield outlook.?

Pockets of northern NSW, as well as Western Australia’s Great Southern, are excessively wet.

This is supporting prices, particularly for higher-protein wheat which is already in short supply.

In this context barley nearby contract was down $10-$15 to $295, while new crop for January was steady at $270.

Wheat nearby contract was steady to $325, while new crop for January was up by $8 to $298.

Nearby sorghum was steady to $310, like new crop Mar-Apr, to $260.

Barley Melbourne nearby was down $5 at $270, while new crop for January delivery tumbled down $5 at $255.

Wheat Melbourne nearby was up $5 at $322, while new crop with January delivery?was at $305, down $5.

Meantime, Australian canola export reached to 444,297 tonnes in May, down 5425t from the April total, according to the latest data from the Australian Bureau of Statistics (ABS).

Germany on 163,249t and Belgium on 120,017t jointly accounted for 64 per cent of April shipments as European crushers continued to source Australian canola ahead of the local new crop becoming available.

The EU-27-plus-UK crush industry imports around 6.5 million tonnes (Mt) per annum rapeseed to bolster total supply to about 24Mt from which it makes about 10Mt rapeseed oil mainly used for biodiesel.

Internationally, The Korea Feed Association (KFA) has issued an international tender to purchase up to 69,000 tonnes of corn to be sourced from optional origins.

South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 138,000 tonnes of animal feed corn to be sourced from optional origins.

S.- Korea's?feedmaker Nonghyup Feed Inc. (NOFI) is believed to have purchased only 68,000 tonnes of feed corn at an estimated premium of 237.39 U.S. cents c&f over the Chicago December corn contract CZ1 plus $1.75 for?additional port, from Viterra.

The Taiwan Flour Millers' Association purchased an estimated 50,000 tonnes of milling wheat to be sourced from the United States in a tender which closed on Friday.

The wheat was bought in one consignment comprising various wheat types for shipment from the U.S. Pacific Northwest coast between Aug. 31 and Sept. 14.

The purchase involved an estimated 26,335 tonnes of U.S. dark northern spring wheat of 14.5% protein content bought at $395.96 a tonne FOB U.S. Pacific Northwest coas.

Another 18,845 tonnes of hard red winter wheat of 12.5% protein was bought at $308.27 a tonne FOB and 4,820 tonnes of soft white wheat of 10.5% protein was purchased at $326.18 a tonne FOB.

The consignment has an additional freight charge of $50.65 per tonne for ocean shipping from the U.S. Pacific Northwest coast to Taiwan.

Trading house Columbia Grain International sold the dark northern spring while Posco International sold the hard red winter and soft white wheat, they said.

Saudi Arabia's, SAGO bought 505,000 tonnes of hard wheat 12.5% in its wheat tender at an average price of $287.00 cost and freight (C&F) a tonne.?

The arrival period is October?2021.

Jordan tenders to buy 120,000 tonnes feed barley?

Possible shipment combinations are Nov. 1-15, Nov. 16-30, Dec. 1-15 and Dec. 15-31.

The deadline for submission of price offers in the tender is July 28.

Turkysh TMO wheat tender have seen as results for?16/30 Aug:

Derince-25k(11,5p) - Ldc - 254,80;

Derince-25k(12,5p) - Orsett - 256,80;

Iskenderun-25k(11,5p) - Rolweg - 263,40;

Iskenderun-25k (11,5p) - Yayla - 259,55.

A group of importers in the Philippines is believed to have rejected all offers and made no purchase in a tender for up to 200,000 tonnes of animal feed wheat which closed on Thursday, European traders said on Tuesday.?

GASC on Wednesday received as lowest offer of $231.88 a tonne for 60,000 tonnes of Romanian wheat.?

Gasc purchased a total of 180000 tonnes of Romanian wheat for delivery Sept. 11-20.

Watching next market week, it starts out fairly normal, with the Monday’s Export Inspections report in the morning and the Crop Progress report in the afternoon.?

EIA data will be released on Wednesday morning per usual.?

The weekly Export Sales report will be out on Thursday morning. Friday will be the busiest for the livestock section of NASS with the?

August (serial) options for corn, the wheats and the Soybean complex expire on Friday.?

In Sicily the harvest of wheat and other grains coming to an end.

The quality of the durum wheat is very good and above average with a percentage of protein that drops slightly but remains higher than 12.00%.

The humidity is less than 9%.

The test weight is still very good above 80 kg / hl.

The average yield dropped slightly to 2.45 tons per hectare.

Good luck everyone and have a good weekend.