USGC Weekly Price Report for week ending 06 Jan 2023

The prices of corn on the exchange moved down by almost USD 10/MT, due to slow demand, export as well as domestic, particularly from ethanol sector.

Mar USD 257.46/MT, May USD 257.46/MT and Jul USD 255.18/MT.  Corn Prices at US Gulf for the period Jan – Jun’23 were up a bit from last week’s price and indicated at USD 310-296/MT;  FOB PNW indicated at USD 327-319/MT. US Corn #3 USD 325-320/Mt (Apr)

Other origin prices were as under (Jan-Mar’23)

Argentina USD 295-300/MT; Brazil USD 295-270/MT; FOB Ukraine USD 255-260/MT.

Rains in Argentina are a cause of concern for corn as well as Soybean planting. Currently, 57% of the area reports a water condition between optimum and adequate, a 1-point increase on the week, leaving 43% at dry conditions.

Other grains, US Sorghum prices FOB Texas were indicated at USD 359/MT (Jan – Mar 2023).

Barley prices were as under

France USD 294-297/MT; Argentina USD 345-350/MT; Black Sea USD 270-275/MT; Australia USD 270-275/MT.

With holiday season over, Barley is getting back on trade. Tunisia ordered 75,000 MT of Barley for feed.

DDGS demand remains steady, prices higher as ethanol run rates a very low. Prices will stabilize once ethanol run rates improve in next few weeks. FOB prices at US Gulf were indicated at USD 350/MT, (Jan-Mar); FOB PNW at USD 390/MT.

US DDGS delivered prices to the region, Vietnam and Thailand  423-430/MT; Myanmar USD 418-425/MT. Prices of CGM on FOB basis were indicated at USD 830/MT and CGF at USD 315/MT.

Freight rates (Bulk) are steady , US Gulf to India at USD 47-48MT; Argentina to India USD 62-63/MT; Argentina- Bangladesh at USD 66-67/MT.

Source: Amit Sachdeva (U.S. GRAINS COUNCIL)