Grain & Oilseed Mid-Session News Update
<div class=\"default-font-wrapper\" style=\"line-height: 1;font-size: 12pt; font-family: Verdana, Geneva, sans-serif;\"><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">Grain & Oilseed Mid-Session News Update</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;\">QT News - Top News</span></p><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">CORN</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA reported private sale of 359,500 metric tons of corn for delivery to Mexico during the 2024/2025 marketing year.</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- As of October 20, accumulated 24/25 MY EU Corn imports totaled 6.07 mln mt (last report 5.70 mln mt), that compares to the year earlier week's 5.67 mln mt</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- As of October 20, accumulated 24/25 MY EU Barley exports totaled 1.61 mln mt (last report 1.54 mln mt), that compares to the year earlier week's 2.68 mln mt</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ukraine's Ag Ministry on Tuesday estimated winter grain planting progress at 83.5% complete with 4.33 mln hectares planted as of Oct 21st. The total planted includes 3.85 mln ha of winter wheat, 421,300 hectares of winter barley and 62,500 ha of rye.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Washington state health department Monday said they presume four poultry workers have been infected with avian flu. They've tested 25 people so far, and are looking for other potential exposures. The state health officials say they haven't seen any evidence of human to human transmission.</span></p><br><br><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">SOY</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Given uncertainty around the US presidential election and expected trade policy going forward, analysts say top exporter China and others are front loading soybean purchases and shunning US soy exports in the new year. Traders say China is paying up to 40 cents a bushel more for Brazil origin soy over US prices.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- As of October 20, accumulated 24/25 MY EU Soybean imports totaled 3.73 mln mt (last report 3.52 mln mt), that compares to the year earlier week's 3.49 mln mt</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- As of October 20, accumulated 24/25 MY EU Rapeseed imports totaled 1.69 mln mt (last report 1.57 mln mt), that compares to the year earlier week's 1.55 mln mt</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- As of October 20, accumulated 24/25 MY EU Soymeal imports totaled 5.36 mln mt (last report 4.91 mln mt), that compares to the year earlier week's 4.91 mln mt</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Indonesia's palm oil industry group, GAPKI, on Tuesday pegged the country's August 2024 palm oil exports at 2.38 mln mt, that's up +15% over the year ago month.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Indonesia's palm oil industry group, GAPKI, on Tuesday pegged the country's end of August 2024 palm oil stockpiles at 2.45 mln mt, that's off from July's 2.51 mln mt. The August figure is the lowest stocks level since March 2019.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On Tuesday, the Indonesian agriculture minister again said the government is committed to implementing mandatory 40% biodiesel blending in January 2025, and eventually working towards a 50% blend rate in the future.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Indian cotton industry group on Tuesday forecast 2024/25 cotton production at 30.2 mln bales, off -7.4% from the previous crop cycle. They attributed the fall on excessive rainfall damaging the crop and lower acres. The new crop year will see cotton imports rise to 2.5 mln bales from the 1.75 mln bales in the prior year.</span></p><br><br><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">WHEAT</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Grain trade sources Tuesday now report Tunisia's state grain buyer purchased 125,000 mt of soft Wheat at their tender that closed today. They reportedly paid $262.88/mt cf for 50,000 mt, $263.34/mt cf for 25,000 mt, and $264.00/mt cf for the final 50,000 mt. Tunisia at their last tender paid $245.83/mt cf for 125,000 mt in mid September.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Despite having eight companies participating in today's tender, grain trade sources said Jordan passed on all offers in their 120,000 mt mill Wheat tender today, making no purchase.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Traders on Tuesday estimated the lowest offer in 50,000 mt Bangladesh wheat tender at $301.88/mt liner out. No purchase has been finalized yet, other offers are being considered, prices ranged from $303.20/mt up to $306.75/mt cf.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- As of October 20, accumulated 24/25 MY EU Soft Wheat exports totaled 7.02 mln mt (last report 6.64 mln mt), that compares to the year earlier week's 10.22 mln mt</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- As of October 20, accumulated 24/25 MY EU Barley exports totaled 1.61 mln mt (last report 1.54 mln mt), that compares to the year earlier week's 2.68 mln mt</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On Tuesday, IKAR analysts projected 2025 Russia Wheat production between 80 mln to 85 mln mt. Meanwhile, SovEcon analysts also released their first 2025 Russian wheat output projection at 80.1 mln mt. The 2024 Russian wheat harvest is expected at 83.0 mln mt.</span></p><br></div>