11/6/20 Prices

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Egypt picked up 120kt of Russian wheat overnight for shipment in mid-July. This takes Egypt’s international purchases during their own harvest period up to 600kt, leaving another 200kt to buy to meet the 800kt target outlined earlier in the year. The lowest priced vessel came in at US$226.90 FOB Egypt. The second vessel came in US$0.70c/t higher.
HRW from the USA continues to be priced well above this with FOB USA offers closer to US$220 before the US$24 frieght is even added.

US white wheat into Japan is priced at US$223 FOB States with about US$22 worth of frieght to Japan, US$245 FOB Japan. This is for a comparable product to our APW1. Current bids for new crop APW1 would see product reach Japan for somewhere around US$258 off the east coast and about US$249 off the west coast, so bids are pretty close to where they should be.
The Platts Aussie FOB wheat contract slipped a little in overnight trade, closing the session untraded but lower at US$235.75 for a January 2021 slot. This is showing a premium over current cash bids of about $10.

Durum planting is basically complete across N.Dakota and the crop condition is relatively high at 82% G/E. Conditions remain dry though.

Tunisia are tendering for 134kt of soft wheat and 100kt of feed barley. We should see results for this one tomorrow.

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