Sep 27, 2021

Australian Crop Update

FOB replacement values using Australian track bid/offer – not an indication.

Source: AgScientia https://www.agscientia.com.au/

Cash markets had a bid side tone all last week with strong export demand from bulk and container traders supporting the bids. Either way, Aussie FOB wheat and barley prices remain competitive and this will continue to buy strong export demand.

All states will benefit from rain, but yields in WA, SA and Vic will decline without rain in the coming weeks. Mild temperatures have helped to limit permanent yield losses so far despite the dry spring. The onset of heat will hasten yield declines without rain.

Weather forecasts added rain for eastern and south-eastern Australia after an extended period of dry weather. The rain fronts are not expected to offer any significant rain for WA or SA, although there are some follow-up rains in the 14-day forecast.

On the global front, we have the USDA report on Friday.

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Basis Commodities expands service offering to soybeans.

18 Apr, 2024

In late 2023, Basis Commodities successfully executed its first shipment of premium non genetically modified soybeans from Romania to Egypt, via two small vessels. Basis has many years of experience managing trade flows and relationships within the Middle East and we were pleased when the opportunity to add a new product – Soybeans – arose out of discussions with our suppliers in Romania and buyers in Egypt. To ensure the safe arrival of the produce, the company worked with several parties to facilitate the execution of this new flow for the company including managing due diligence, testing, insurance and contract execution. Soybeans are a primary source of protein and edible oil, making them essential for human nutrition. The largest producers of soybeans in the world are the United States, Brazil, and Argentina. These countries account for most of the global soybean production. Ukraine is the leading exporter of soybeans in Europe. However, Romania is seeing growth in this market after a long hiatus. This growth can be attributed to various factors including increased demand for soybeans globally, improvements in agricultural technology, and favourable climatic conditions for soybean cultivation in Romania. Egypt is among the top importers of soybeans in the world. The country imports large quantities of soybean, primarily for the production of soybean meal, a key ingredient in animal feed formulations. The country's growing population and expanding livestock sector contribute to the increasing demand for soybeans as a source of protein-rich feed. Basis Commodities General Manager in Dubai, Nader Ahmed said assisting companies making connections in the movement of soft commodities is a speciality of the company “we are committed to fostering international trade partnerships and promoting the exchange of quality agricultural products in the Middle East” and “We’re proud to have played a role in bringing premium soybeans into Egypts market”. For more information on how Basis Commodities and assist your business, reach out to the team on the details below