Grains Report 11/05/2024

DJ USDA Grain Inspections for Export in Metric Tons – Nov 4
WA_GR101
Washington, DC Mon Nov 4, 2024 USDA Market News
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND
WEIGHED THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.
NO ADDITIONAL ANALYSIS, COMPILATIONS OR DATA IS AVAILABLE
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
REPORTED IN WEEK ENDING OCT 31, 2024
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 10/31/2024 10/24/2024 11/02/2023 TO DATE TO DATE
BARLEY 0 0 0 4,920 643
CORN 779,078 840,435 574,558 7,423,217 5,552,051
FLAXSEED 0 0 0 192 0
MIXED 0 49 0 49 24
OATS 0 0 0 148 3,794
RYE 0 0 0 0 0
SORGHUM 67,026 5,354 40,409 539,667 490,857
SOYBEANS 2,158,646 2,628,439 2,183,373 12,799,577 12,366,821
SUNFLOWER 0 0 0 0 2,517
WHEAT 193,523 294,657 114,318 9,750,996 7,236,663
Total 3,198,273 3,768,934 2,912,658 30,518,766 25,653,370
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA

This Week Last Week Last Year Average
Cotton Harvested 63 52 55 54
Corn Harvested 91 81 78 75
Soybeans Harvsted 94 89 89 85
Sorghum Harvsted 85 75 83 82
Peanuts Harvested 73 59 76 77
Sugarbeets Harvested 93 83 92 88
Sunflowers Harvested 65 47 49 56
Winter Wheat Planted 87 80 88 89
Winter Wheat Emerged 66 56 72 71

Very Poor Poor Fair Good Excellent
Winter Wheat This Week 8 15 36 35 6
Winter Wheat Last Week 7 16 39 33 5
Winter Wheat Last Year 6 11 33 42 8

DJ U.S. September Grain Imports-Nov 5
In kilograms, from the U.S. Commerce Department, converted to
pounds by Dow Jones.
—-Sep 2024—- —-Aug 2024—-
kilograms pounds kilograms pounds
durum wheat 1,229,540 2,711,136 690,142 1,521,763
spring wheat 11,582,545 25,539,512 2,141,523 4,722,058
winter wheat 0 0 0 0
wheat/meslin 0 0 0 0
TOTAL WHEAT 12,812,085 28,250,647 2,831,665 6,243,821
barley 4,184,921 9,227,751 1,506,410 3,321,634
oats 380,010 837,922 485,979 1,071,584
corn 60,620,261 133,667,676 54,977,558 121,225,515
other corn 1,708,412 3,767,048 6,097,847 13,445,753
TOTAL CORN 62,328,673 137,434,724 61,075,405 134,671,268

DJ U.S. Sep Soymeal, Vegetable Oils/Oilseed Imports-Nov 5
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—-Sep 2024—- —-Aug 2024—-
kilograms pounds kilograms pounds
coconut oil 47,393,215 104,502,039 51,240,736 112,985,823
palm kernel oil 26,612,201 58,679,903 32,523,416 71,714,132
palm oil 138,587,108 305,584,573 112,417,228 247,879,988
soybean 79,405,718 175,089,608 52,567,311 115,910,921
soymeal 0 0 0 0
soyoil 9,361,586 20,642,297 6,994,400 15,422,652
rapeseed oil
edible 234,572,310 517,231,944 261,003,238 575,512,140
rapeseed oil,
inedible 436,078 961,552 1,289,186 2,842,655

DJ U.S. Sep Grain Exports-Nov 5
In kilograms (top) and in bushels (bottom), except flour in cwt and malt
in pounds. /1 denotes includes commercial and donated. Source: U.S. Department
of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Sep 24 Aug 24 Jul 24 Sep 23
Barley 1,734,451 798,536 2,320,000 640,500
Corn /1 4,278,577,000 5,156,297,000 5,259,807,000 3,164,981,000
Sorghum 350,084,000 473,627,000 410,112,000 308,067,000
Oats 4,906,521 9,065,691 1,551,339 2,955,013
Rye 183,634 205,411 463,869 158,552
Wheat /1 2,455,388,828 2,451,679,640 1,959,541,223 1,851,930,672
wheat flour /1 25,233,062 19,842,832 18,518,229 20,370,324
Malt 27,297,515 37,834,310 31,998,234 26,319,290
——- In Bushels, CWT or Pounds ——-
Sep 24 Aug 24 Jul 24 Sep 23
Barley 79,662 36,676 106,556 29,418
Corn /1 168,438,407 202,992,363 207,067,330 124,598,519
Sorghum 13,782,057 18,645,680 16,145,231 12,127,938
Oats 338,029 624,569 106,878 203,582
Rye 7,229 8,087 18,262 6,242
Wheat /1 90,219,169 90,082,881 72,000,076 68,046,105
wheat flour /1 556,294 437,460 408,257 449,089
Malt 60,180,729 83,410,390 70,544,043 58,024,112
1/Includes commercial and donated.

DJ U.S. Sep Oilseed, Meal, Oils/Fats Exports-Nov 5
In kilograms (top). Oils in pounds, soybeans in bushels, meal and hulls in
short tons (bottom). Source: U.S. Department of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Sep 24 Aug 24 Jul 24 Sep 23
soybeans 2,977,995,398 1,714,259,496 1,495,833,198 2,471,462,961
soyoil 27,383,872 29,070,288 44,168,425 12,703,413
crude 12,143,630 12,795,240 29,070,304 3,651,667
refined 209,020 132,759 81,245 234,098
other/1 14,895,826 15,882,266 14,839,818 8,639,603
hydrogenated 135,396 260,023 177,058 178,045
cottonseed oil 588,746 1,840,891 554,627 770,310
crude 116,108 403,471 0 19,231
refined 421,653 1,341,230 404,795 315,896
other/1 50,985 96,190 149,212 126,882
hydrogenated 0 0 620 308,301
sunseeds 249,305 386,258 18,638 2,282,927
sunseed oil 3,166,773 4,069,056 3,646,828 4,644,553
rapeseed 35,758,260 51,132,840 12,817,565 22,300,957
rapeseed oil 5,905,294 6,417,598 3,340,477 5,435,660
crude 2,827,744 3,207,883 184,657 1,587,200
refined 3,077,550 3,209,715 3,155,820 3,848,460
linseed meal 141,464 180,873 205,619 182,000
cottonseed meal 2,766,093 2,182,793 2,971,072 2,188,496
soymeal 880,401,963 765,558,348 768,430,709 770,067,464
soymeal/flour 229,660,687 138,433,544 236,813,134 216,557,996
soymeal hulls 15,660,000 5,192,000 12,355,000 2,152,000
lard 1,244,127 1,190,566 680,875 1,298,630
edible tallow 6,860,514 4,314,948 4,369,464 2,862,950
inedible tallow 4,358,883 11,566,164 14,029,641 7,993,433
ch white grease 0 0 65,148 0
——- In Bushels, Pounds or Short Tons ——-
Sep 24 Aug 24 Jul 24 Sep 23
soybeans 109,421,477 62,987,608 54,961,897 90,809,787
soyoil 60,371,114 64,089,026 97,374,726 28,006,236
crude 26,772,126 28,208,680 64,089,061 8,050,549
refined 460,810 292,684 179,115 516,098
other/1 32,839,681 35,014,409 32,716,204 19,047,067
hydrogenated 298,497 573,253 390,346 392,522
cottonseed oil 1,297,963 4,058,471 1,222,743 1,698,243
crude 255,974 889,501 0 42,397
refined 929,586 2,956,907 892,420 696,432
other/1 112,403 212,063 328,956 279,727
hydrogenated 0 0 1,367 679,687
sunseeds 549,624 851,553 41,090 5,032,993
sunseed oil 6,981,541 8,970,734 8,039,881 10,239,488
rapeseed 78,833,482 112,728,635 28,257,899 49,165,203
rapeseed oil 13,018,947 14,148,384 7,364,492 11,983,581
crude 6,234,109 7,072,173 407,099 3,499,178
refined 6,784,838 7,076,212 6,957,393 8,484,403
linseed meal 156 199 227 201
cottonseed meal 3,049 2,406 3,275 2,412
soymeal 970,467 843,875 847,041 848,845
soymeal flour/me 253,155 152,595 261,039 238,712
soymeal hulls 17,262 5,723 13,619 2,372
lard 2,742,831 2,624,749 1,501,073 2,862,990
edible tallow 15,124,847 9,512,834 9,633,021 6,311,725
inedible tallow 9,609,694 25,499,031 30,930,069 17,622,506
ch white grease 0 0 143,627 0

DJ CBOT Delivery Intentions: Totals – Nov 5
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE November Nov 06, 2024 90 Sep 06, 2024
SOYBEAN November Nov 06, 2024 2 Oct 23, 2024

WHEAT
General Comments: The markets were mixed yesterday, with Chicago a little lower and KC and Minneapolis a little higher as forecasts for very beneficial rains for the Great Plains and Midwest and reports of steady offers in Russia continue. The rains are falling and will allow Wheat farmers to plant the Winter crops. Little to no rain has been a problem with Winter Wheat planting in the US but that is starting to change. Ideas are that the Great Plains are too hot and dry for best Wheat development are still around as the Winter crop gets planted. It is also hot and dry in western Canada. Both areas could get better rain in the next two weeks. Cash markets in Russia were lower as production estimates remain lower and two regions have been declared a farming emergency due to the hot and dry weather.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 556, 544, and 538 December, with resistance at 580, 589, and 595 December. Trends in Kansas City are mixed to down. Support is at 561, 556, and 549 December, with resistance at 583, 593, and 603 December. Trends in Minneapolis are mixed. Support is at 595, 586, and 580 December, and resistance is at 617, 624, and 632 December.

RICE:
General Comments: Rice closed a little lower yesterday after failing to hold to a higher move early in the day. The trends are still down on the charts. Lower Asian prices are still reported. Brazil prices remain strong and well above US prices. The US weather has been an issue much of the growing season with too much rain early in the year. The harvest is over for most US producers and yield reports have had a wide range from poor to good. Export demand was not strong last week.
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1464, 1452, and 1440 January and resistance is at 1492, 1503, and 1513 January.

CORN AND OATS
General Comments: Corn closed a little higher yesterday after trading higher early in the session as the US harvest wraps up and as demand remains strong. There was a new demand announcement made yesterday that Mexico bought 150,000 tons and unknown destinations bought 132,000 tons and the demand in recent weeks has been very strong. Oats were higher. The harvest is winding down but is still active and yield reports in general have been strong. It has been very dry in the Midwest to promote the very active harvest progress gut rain is forecast for much of his week in the Midwest. The harvest will be complete in two weeks or less. Corn is being harvested with dry grain. The Corn is often well below 12% moisture level and this could cost some yield at the end of the day. Crop conditions in southern Brazil and Argentina with reports of ample moisture in southern Brail and report of improving moisture levels in Argentina.
Overnight News: Unknown destinations bought 124,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 408, 399, and 397 December, and resistance is at 420, 424, and 428 September. Trends in Oats are up. Support is at 390, 381, and 374 December, and resistance is at 408, 412, and 415 December.

SOYBEANS
General Comments: Soybeans were a little higher and Soybean Meal was higher yesterday as demand news was seen and on ideas that the US government is about to announce new limits on biofuels production that could greatly increase the demand for Soybean Oil. Soybean Oil was lower as there has been no announcement yet. Brazilian farmers are planting what is expected to be a very big crop in central and northern areas of the country. Warm and dry weather in the Midwest recently has hurt production ideas due to ideas of small and very dry beans in the pods. Farmers have focused on Soybeans harvest but now are almost done and are moving through Corn. Soybeans ae often harvested at moisture levels below 10% this year. Rains are now in the forecast for much of this week. Central and northern Brazil rains will continue as it looks like the rainy season is now underway. Soils are in much better shape in southern Brazil and Argentina.
Overnight News:
Analysis: Trends in Soybeans are down. Support is at 991, 977, and 974 January, and resistance is at 1003, 1018, and 1030 January. Trends in Soybean Meal are mixed to down. Support is at 294.00, 288.00, and 285.00 December, and resistance is at 309.00, 312.00, and 323.00 December. Trends in Soybean Oil are mixed to up. Support is at 4500, 4430, and 4350 December, with resistance at 4680, 4940, and 5000 December.

PALM OIL AND CANOLA
General Comments: Palm Oil was higher yesterday on follow through buying on ideas of strong demand and tight supplies on offer. It was lower today on some profit taking and in sympathy with Soybean Oil in Chicao. There are ideas of weaker production and these should be validated by the next round of monthly MPOB reports to be released in ten ex week or so. Canola was lower along with Soybean Oil in Chicago and a higher Canadian Dollar.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 635.00, 623.00, and 605.00 January, with resistance at 659.00, 673.00, and 685.00 January. Trends in Palm Oil are up. Support is at 4590, 4480, and 4370 January, with resistance at 4720, 4780, and 4840 January.

Midwest Weather Forecast: Rain. Temperatures should average near to below normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – Nov 5
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1177.50 -15.00 Unquoted – –
Dec 1172.50 -12.50 Unquoted – –
Jan/Feb/Mar 1145.00 -10.00 Unquoted – –
Apr/May/Jun 1080.00 -12.50 Unquoted – –
Jul/Aug/Seep 1035.00 -07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1182.50 -15.00 Unquoted – –
Dec 1177.50 -12.50 Unquoted – –
Jan/Feb/Mar 1150.00 -10.00 Unquoted – –
Apr/May/Jun 1085.00 -12.50 Unquoted – –
Jul/Aug/Sep 1040.00 -07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1165.00 -17.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 975.00 -10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 4,980.00 -40.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 453.00 +06.00 Unquoted – –
($1=MYR4.3545)

Questions? Ask Jack Scoville today at 312-264-4322