Asia Grains-Indonesia buys Canadian wheat, Philippines eyes feed grains

Published 2016-11-04, 04:15 a/m
Asia Grains-Indonesia buys Canadian wheat, Philippines eyes feed grains

* Indonesia buys 20,000 T of high-protein Canadian wheat

* Millers also take 25,000 T of Australian Standard wheat

* Philippines eyes 165,000 T feed wheat, 100,000 T soymeal

SINGAPORE, Nov 4 (Reuters) - An Indonesian miller bought 20,000 tonnes of high-quality Canadian wheat in a recent deal for February shipment, while the Philippines is seeking feed wheat and soybean meal, two traders said.

Canadian Western Red Spring (CWRS) wheat with 13.5 percent protein content, used for making noodles among other products, was sold between $265 and $270 a tonne, including cost and freight (C&F).

In a separate deal, Indonesian millers bought 25,000 tonnes of Australian Standard Wheat (ASW) at $210 a tonne, C&F.

A group of feed grain processors in the Philippines is in the market seeking 100,000 tonnes of soybean meal for February and March arrival.

Millers have also been looking at buying 165,000 tonnes of feed wheat for arrival in February, March and April, they said.

Indian flour millers were on the sidelines this week after contracting large volumes in the past few weeks.

"There are a plenty of offers for Australian wheat for February shipment," said a Singapore-based trader. "But I don't think anyone in India is willing to buy that much forward."

India will keep its wheat import tax unchanged at 10 percent and state-run traders will not import the grain for now, as the private trade is expected to buy up to 3 million tonnes this year, the highest in a decade, a senior government source said. soybeans and corn slid on Friday with both poised for their biggest weekly losses since late August on expectations of further increases in crop yields in next week's U.S. Department of Agriculture (USDA) report. GRA/

Informa Economics, a private analytics firm, on Thursday raised its estimate of the U.S. 2016 soybean yield to 52.4 bushels per acre, from 51.6 in the previous month.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.