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By mid May, dollar rallied in Brasil weakening the argentine
peso as a side effect. Current
values, Argentina 2.93; Brasil 3.21.
Fall developed further rains, mostly concentrated
in central grain producing areas of Argentina and South Brasil, enough to
secure minimal conditions for winter crop plantings. Wheat farmers keep
high mood for larger acreage which could turn as much as 8.00 pct in
South Argentina and about 5.00 pct in South Brasil. The tail of summer crops harvest
is quickly reaching an end, with disappointing results in terms of yield.
Logistics
remained more or less relaxed on the shipping side, but most ports
suffered heavy congestions on the discharging side on account of
excessive delay on the Chinese soyabeans lifting program. The combination
of such delay and stronger dollar kept premiums under heavy pressure,
only eased by weaker CBOT as from mid May. In the case of argentine
maize, premiums reacted positively to stronger destination demand and
robust shipment programs. An
exceptional season of shipments reached an end in South Brasil, with
1,270,000.00 tons of wheat to mainly Mediterranean and some domestic
destinations and 215,000.00 tons of maize also to Mediterranean
destinations and Korea. Large carry overs should result from current
loading pace, but farmers do not seem to worry about it.
CURRENT VALUES:
ARG WHEAT PORT SELLER BUYER
MAY-15 04 UPRIVER 154 VS 151
MAY-15 04 NECO 156 VS NB
MAY-15 04 BBCA 161 VS NB
JUNE 04 UPRIVER 155 VS 151
JUNE 04 NECO 157 VS NB
JUNE 04 BBCA 162 VS NB
JULY
04
NECO
159 VS 155
ARG MAIZE PORT SELLER BUYER
MAY 04 UPRIVER 8N VS
2N
JUNE 04 UPRIVER 8N VS 2N
JUNE
04
BBCA
27N VS
20N
JULY 04 UPRIVER 13N VS 5N
AUG
04
UPRIVER
22U VS 10U
ARG SBEANSPORT SELLER BUYER
MAY 04 UPRIVER -150N VS NB
JUNE 04 UPRIVER -135N VS NB
JULY 04 UPRIVER -120N VS NB
ARG SBEANSPLLTSPORT SELLER BUYER
JUNE 04 UPRIVER - 87 VS - 91
JULY 04 UPRIVER NS VS - 88
AUG 04 UPRIVER NS
VS - 73
SEP 04 UPRIVER NS
VS NB
OND 04 UPRIVER - 21 VS - 26
BRAZILIAN SBEANSPORT SELLER BUYER
JUNE 04 PARANAGUA- 130 VS -160
JJ 04 PARANAGUA- 140 VS -175
JULY 04 PARANAGUA- 135 VS -150
AUG 04 PARANAGUA- 60 VS - 70
JUNE 04 RIO GRANDE - 130 VS NB
BRAZILIAN SBEANSPLLTS PORT SELLER BUYER
JUNE 04 PARANAGUA- 72 VS - 76
JULY 04 PARANAGUA -
70 VS - 72
JUG 04 PARANAGUA- 53 VS - 56
AS 04 PARANAGUA- 43 VS - 45
SEP 04 PARANAGUA- 31
VS - 35
OND 04 PARANAGUA- 2 VS - 5
[copyrights] trc - the rice company - the rice corporation -
1993-2004 no copying in any format without permission
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