Grains Report 11/13/2024

DJ USDA Grain Inspections for Export in Metric Tons – Nov 12
WA_GR101
Washington, DC Tue Nov 12, 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 NOV 07, 2024
— METRIC TONS —
————————————————————————–
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 11/07/2024 10/31/2024 11/09/2023 TO DATE TO DATE
BARLEY 0 0 0 4,920 643
CORN 793,012 797,639 718,664 8,234,890 6,270,715
FLAXSEED 0 0 0 192 0
MIXED 0 0 0 49 24
OATS 0 0 0 148 3,794
RYE 0 0 0 0 0
SORGHUM 167,012 67,026 79,911 706,679 570,768
SOYBEANS 2,277,907 2,307,852 2,011,309 15,228,132 14,378,130
SUNFLOWER 0 0 240 0 2,757
WHEAT 347,321 205,798 244,747 10,110,592 7,481,410
Total 3,585,252 3,378,315 3,054,871 34,285,602 28,708,241
————————————————————————-
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

DJ USDA Monthly Grain Inspections: Exported by Rail – Nov 13
MS_GR210
Minneapolis, MN WED NOV 12, 2024 USDA MARKET NEWS
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT BY RAIL TO CANADA AND MEXICO
REPORT FOR MONTH ENDING OCTOBER 2024
————————————————————————
Oct-24 Sep-24 Year to Date
CANADA Rail Cars Metric Tons Metric Tons Metric Tons
BARLEY 0 0 0 0
BARLEY MALTING 0 0 0 0
CORN WHITE 0 0 0 0
CORN YELLOW 0 0 0 0
RYE 0 0 0 0
FLAXSEED 0 0 0 0
OATS 0 0 0 0
SOYBEANS 0 0 0 0
WHEAT DU 0 0 0 0
WHEAT HDWH 0 0 0 1,500
WHEAT HRS 0 0 10,877 11,277
WHEAT HRW 0 0 200 800
WHEAT SRW 0 0 0 0
WHEAT SWW 0 0 0 0
WHEAT MIXED 0 0 0 0
MEXICO
BARLEY 0 0 0 200
BARLEY MALTING 0 0 0 4,992
CANOLA 226 22,554 19,161 76,544
CORN WHITE 102 10,179 3,393 104,882
CORN YELLOW 10,195 1,017,371 1,004,396 R 10,704,483
CORN MIXED 99 9,879 0 0
FLAXSEED 0 0 0 0
MIXED GRAINS 0 0 0 499
OATS 0 0 0 899
SORGHUM 0 0 0 9,779
WHT SORGHUM 0 0 0 0
SOYBEANS 4,372 436,284 176,831 2,844,347
SUNFLOWER 0 0 0 0
WHEAT DU 0 0 0 11,177
WHEAT HDWH 0 0 0 2,795
WHEAT HRS 558 55,686 86,720 699,158
WHEAT HRW 703 70,153 87,819 1,150,425
WHEAT SRW 316 31,537 57,484 573,519
WHEAT SWW 97 9,680 9,779 32,637
WHEAT MIXED 5 499 0 499
WHEAT UNCL 0 0 0 0
————————————————————————-
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED
AND
WEIGHED THROUGH GIPSA’S AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.
NO ADDITIONAL ANALYSIS, COMPILATIONS OR DATA IS AVAILABLE.
R=Revised (YTD Revision Entails Past Month Revisions)
Year to Date is January to current or end of year
Wheat
DU=Durum
HDWH= Hard White
HRS=Hard Red Spring
HRW=Hard Red Winter
SRW=Soft Red Winter
SWW=Soft White
UNCL=Unclassed
Source: USDA, FGIS
USDA MARKET NEWS SERVICE
Niki Davila 503-535-5001 Nicole.davila@usda.gov
https://www.ams.usda.gov/mnreports/ms_gr210.txt
http://www.ams.usda.gov/market-news/livestock-poultry-grain

DJ CBOT Delivery Intentions: Totals – Nov 13
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE November Nov 14, 2024 3 Oct 31, 2024

Cotton Harvested 71 63 64 63
Corn Harvested 95 91 86 84
Soybeans Harvsted 96 94 94 91
Sorghum Harvsted 91 85 90 89
Peanuts Harvested 82 73 85 85
Sugarbeets Harvested 97 93 97 97
Sunflowers Harvested 81 65 64 70
Winter Wheat Planted 91 87 92 93
Winter Wheat Emerged 76 66 79 79

Very Poor Poor Fair Good Excellent
Winter Wheat This Week 6 12 38 38 6
Winter Wheat Last Week 8 15 36 35 6
Winter Wheat Last Year 7 10 36 39 8

WHEAT
General Comments: The markets were lower yesterday in all three markets on reports of deteriorating price in Russia and improved growing conditions in the US. The USDA supply and demand reports released Friday did little to help Wheat prices as domestic and world ending stocks levels were a little above trade expectations at 815 million bushels in the US and 257.6 million tons for the world. Reports of very beneficial rains for the Great Plains and Midwest and reports of weaker offers in Russia were also negative for prices. The rains are falling and will allow Wheat farmers in the US to plant the Winter crops. Cash markets in Russia were lower as production estimates remain lower and as demand has waned. Ideas are that Russian exporters are trying to maintain export volumes at the expense of price
Overnight News:
Chart Analysis: Trends in Chicago are mixed to down. Support is at 544, 538, and 532 December, with resistance at 5654, 574, and 580 December. Trends in Kansas City are mixed to down. Support is at 539, 527, and 520 December, with resistance at 562, 569, and 580 December. Trends in Minneapolis are down. Support is at 573, 563, and 556 December, and resistance is at 595, 603, and 613 December.

RICE:
General Comments: Rice closed higher yesterday and trends are turning up on the charts. The US Dollar was higher, and this did not help demand ideas. USDA cut export demand in its latest WASDE report released last week. 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, but the harvest is over now and the crops are being stored.
Overnight News:
Chart Analysis: Trends are mixed to up. Support is at 1465, 1445, and 1434 January and resistance is at 1494, 1502, and 1513 January.

CORN AND OATS
General Comments: Corn closed lower yesterday as the US harvest wraps up and as demand remains strong. The export demand in recent weeks has been very strong. Oats were also lower. Corn has held recent gains relatively better than Soybeans or Wheat. 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 and this week looks to be dry after some wet weather passes through today. 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 Brazil and report of improving moisture levels in Argentina.
Overnight News: Mexico bought 401,357 tons of US Corn and USDA received 290,820 tons of Corn for delivery to unknown destinations.
Chart Analysis: Trends in Corn are mixed to up. Support is at 427, 420, and 414 December, and resistance is at 435, 440, and 446 September. Trends in Oats are down. Support is at 330, 323, and 314 December, and resistance is at 349, 357, and 370 December.

SOYBEANS
General Comments: Soybeans and the products were lower. 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 almost done with Corn as well. Soybeans ae often harvested at moisture levels below 10% this year. 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 mixed. Support is at 1004, 1992, and 986 January, and resistance is at 1020, 1030, and 1044 January. Trends in Soybean Meal are mixed to down. Support is at 288.00, 285.00, and 282.00 December, and resistance is at 3297.00, 303.00, and 309.00 December. Trends in Soybean Oil are mixed to up. Support is at 4680, 4590, and 4440 December, with resistance at 4920, 4990, and 5040 December.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower today on weakness in Crude Oil and competing vegetable oils prices. Ideas of weaker production caused by too much rain and reports of good demand provided support. The private surveyors have indicated that exports have been strong. Canola was lower along with other vegetable oils and oilseeds markets. Canola he;d much better than the competition as the US Dollar held strong and made new highs for the move The harvest is winding down in Canada and the crops are locked away in the bin. Producers will try to wait for higher prices before selling much.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 643.00, 635.00, and 625.00 January, with resistance at 665.00, 673.00, and 685.00 January. Trends in Palm Oil are up. Support is at 4890, 4780, and 4700 January, with resistance at 5060, 5120, and 5180 January.

Midwest Weather Forecast Scattered showers and some rain. Temperatures should average near normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – Nov 13
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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 1205.00 -25.00 Unquoted – –
Dec 1192.50 -17.50 Unquoted – –
Jan/Feb/Mar 1180.00 -10.00 Unquoted – –
Apr/May/Jun 1087.50 -12.50 Unquoted – –
Jul/Aug/Seep 1030.00 -10.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1210.00 -25.00 Unquoted – –
Dec 1197.50 -17.50 Unquoted – –
Jan/Feb/Mar 1185.00 -10.00 Unquoted – –
Apr/May/Jun 1092.50 -12.50 Unquoted – –
Jul/Aug/Sep 1035.00 -10.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1180.00 -25.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 985.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 5,200.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 513.00 00.00 Unquoted – –
($1=MYR4.446)

DJ China Dalian Grain Futures Closing Prices, Volume – Nov 13
Soybean No. 1
Turnover: 202,440 lots, or 8.07 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 – – – 4,026 4,026 4,026 0 0 502
Jan-25 4,005 4,008 3,959 3,960 4,029 3,977 -52 161,322 194,920
Mar-25 4,003 4,012 3,969 3,969 4,025 3,987 -38 8,488 29,170
May-25 4,041 4,047 4,008 4,008 4,061 4,023 -38 26,986 50,094
Jul-25 4,058 4,069 4,035 4,036 4,084 4,049 -35 2,551 7,112
Sep-25 4,082 4,092 4,061 4,063 4,107 4,074 -33 3,093 11,011
Corn
Turnover: 646,460 lots, or 14.28 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 – – – 2,168 2,168 2,168 0 0 0
Jan-25 2,194 2,207 2,190 2,197 2,186 2,197 11 505,467 938,792
Mar-25 2,210 2,227 2,210 2,220 2,208 2,218 10 57,748 340,996
May-25 2,265 2,278 2,260 2,266 2,263 2,267 4 63,277 247,441
Jul-25 2,293 2,304 2,288 2,294 2,291 2,295 4 16,982 101,469
Sep-25 2,312 2,327 2,312 2,318 2,315 2,318 3 2,986 19,573
Soymeal
Turnover: 1,684,210 lots, or 50.66 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 3,009 3,076 2,984 2,984 3,020 3,018 -2 232 4,604
Dec-24 3,060 3,078 3,052 3,056 3,075 3,065 -10 7,484 55,474
Jan-25 3,060 3,083 3,051 3,059 3,077 3,067 -10 830,971 1,263,081
Mar-25 3,032 3,047 3,023 3,026 3,032 3,034 2 45,854 294,199
May-25 2,920 2,939 2,915 2,927 2,926 2,926 0 640,483 1,714,482
Jul-25 2,915 2,930 2,907 2,921 2,915 2,920 5 31,229 189,660
Aug-25 3,021 3,046 3,016 3,035 3,020 3,033 13 17,766 116,009
Sep-25 3,020 3,049 3,016 3,038 3,023 3,034 11 110,191 369,850
Palm Oil
Turnover: 1,939,552 lots, or 19.08 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 – – – 9,844 9,844 9,844 0 0 680
Dec-24 10,180 10,252 9,820 9,830 10,306 10,028 -278 10,565 4,374
Jan-25 10,100 10,200 9,756 9,782 10,238 9,958 -280 1,615,868 486,847
Feb-25 9,898 10,002 9,574 9,590 10,052 9,756 -296 12,767 10,852
Mar-25 9,736 9,820 9,388 9,388 9,868 9,586 -282 2,524 2,477
Apr-25 9,606 9,652 9,204 9,204 9,700 9,346 -354 354 383
May-25 9,404 9,486 9,006 9,016 9,558 9,198 -360 286,771 179,289
Jun-25 9,234 9,270 8,834 8,872 9,400 9,042 -358 131 408
Jul-25 8,956 9,084 8,662 8,676 9,192 8,826 -366 164 309
Aug-25 8,840 8,844 8,448 8,524 9,030 8,606 -424 83 107
Sep-25 8,652 8,686 8,264 8,296 8,796 8,392 -404 10,057 12,523
Oct-25 8,564 8,566 8,158 8,210 8,708 8,282 -426 268 281
Soybean Oil
Turnover: 991,446 lots, or 83.06 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 – – – 8,428 8,428 8,428 0 0 40
Dec-24 8,576 8,620 8,276 8,286 8,722 8,456 -266 4,520 10,758
Jan-25 8,602 8,626 8,286 8,292 8,744 8,456 -288 709,452 534,052
Mar-25 8,500 8,510 8,182 8,182 8,574 8,334 -240 7,308 12,259
May-25 8,330 8,350 8,002 8,008 8,418 8,178 -240 255,349 439,847
Jul-25 8,160 8,160 7,832 7,832 8,208 8,016 -192 539 1,962
Aug-25 8,110 8,132 7,848 7,852 8,192 8,020 -172 219 278
Sep-25 8,078 8,098 7,766 7,772 8,140 7,922 -218 14,059 33,552
Notes:
1) Unit is Chinese yuan a metric ton;
2) Ch. is day’s settlement minus previous settlement;
3) Volume and open interest are in lots;
4) One lot is equivalent to 10 metric tons.

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