Wednesday’s auction of wheat saw 100% of the 501k tons offered being purchased by the market. The average price was 2441 yuan per ton, up 38 yuan from last week. This is also the second week in a row that all of the wheat available has been purchased by the market. Next week’s auction has… Continue reading Wheat auctions increased as prices continue to rise
Author: Darin Friedrichs
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Weather service changes wheat crop conditions reporting
In its latest update, the National Meteorological Center reports that 87.2% percent of the winter wheat crop is either the same quality or better than last year at this time based on remote sensing. However, it’s not very clear what the NMC is basing this on. Traditionally, wheat would be rated by classes. Class 1… Continue reading Weather service changes wheat crop conditions reporting
US-China; futures recap
US-China relations and potential for future purchases CBOT soybeans were limit-down yesterday on news that the Trump visit to China was postponed and due to uncertainty about additional soybean purchases. While there is uncertainty around those additional purchases, China has no reason not to continue with its agreement to purchase the 25 million tons per… Continue reading US-China; futures recap
Urea prices stable to lower as government enforces guidance
Urea prices in China are stable to slightly lower this week on government and industry guidance to keep prices stable. Prices were stable, or down 10-20 yuan per ton, with Anhui around 1800 yuan per ton, and most prices under 1850 yuan per ton. Several fertilizer sources are reporting that exports of phosphate and fertilizers… Continue reading Urea prices stable to lower as government enforces guidance
Brazil soy shipments to China still above 2MMT/week
Brazil loaded 2.2 million tons of soybeans to China last week, up slightly from the week before. US shipments picked up slightly out of the PNW but were stable from the Gulf. Since the start of the year, Brazil has loaded 11.1 million tons of soybeans to China, up 1% compared to this time last… Continue reading Brazil soy shipments to China still above 2MMT/week
Wheat prices continue higher to key level
Wheat prices in Hubei were up 10 yuan per ton over the past week to the highest level since July 2024. Part of what is driving higher wheat prices is increased demand for feed. Large feed companies are reportedly purchasing wheat at 2580-2640 yuan per ton, up 40-60 yuan since the start of the month.… Continue reading Wheat prices continue higher to key level
Futures Recap
Hog futures fell sharply, with the May contract down over 3%. For rolling front-month futures, this is the lowest that hog futures have traded since being listed in 2021. The selling was mostly limited to the front end of the curve. July futures were down 1.5% but didn’t make new lows, and the September contract… Continue reading Futures Recap
New website dashboards for trade data
I’ve added two new dashboards to the data website for imports and exports. These require a login, so if you have any trouble logging in, just send me an email. China Ag Import Dashboard China Ag Export Dashboard The dashboards have monthly data, yearly totals, calculated CNF and FOB prices, and the market share of… Continue reading New website dashboards for trade data
Excess soil moisture declines in wheat regions
Temperatures in agricultural areas were 1-4C higher than normal over the past week. Weather conditions were generally good in winter wheat areas in northern China, with some light rainfall, and temperatures close to average. 44% of Henan has excessive soil moisture, but this is down from 52% last week. 37% of Shandong has excessive soil… Continue reading Excess soil moisture declines in wheat regions