Prospex*Agro

🎙️ Episode 4 Is Live! 🎙️ Tap play ▶️ to hear how China, veg oil competition, and Ukraine’s export flow are shaping the market right now. Prospex*Agro Market Talks: Behind the Brokerage Desk is back – short audio episodes where our brokers share what’s really moving the market and what buyers and sellers are negotiating right now. 🌻 Episode 4: China, Oils & Meal: Ukraine’s Export Flow Under the Spotlight This episode looks at how cautious Chinese buying, stronger Ukrainian sunflower oil exports, and rising competition from Argentina are influencing the global oils and meal market. It’s a closer look at spreads, logistics, and the real trade flow behind price ideas. Stay tuned for more episodes. 🎧 Listen to the full playlist on SoundCloud – including previous episodes and the latest one in audio format: soundcloud.com/prospex-agro/s… #VegOils #Ukraine

🚢 Tender Digest – Apr 16, 2026 📦 1️⃣ 🇩🇿 Algeria OAIC – Durum Tender 🌾 📅 Tender date: Apr 15. 🌾 Sought: 50K MT nominal. 📈 Estimated bought: several 100K MT. 💵 Panamax: from $327/MT c&f. 💵 Handymax: $332.50–334/MT c&f. 🚢 Shipment: May 16–31, June 1–15, June 16–30. 📊 Results not disclosed; figures based on trader estimates. 📈 More detailed estimates may follow. 📅 Last tender: Dec 24. 🌾 Bought: ~500K MT. 💵 Price: ~$315/MT c&f. 2️⃣ 🇹🇷 Turkey TMO – Sunflower Oil Tender 🌻 🌻 ~12K MT crude sunflower oil bought provisionally (Apr 16) . 🏢 Seller: Aves. 💵 $1,427/MT ex-warehouse ($1,417/MT c&f). ⚠️ Subject to confirmation; volume can be cut or cancelled. 🚢 Shipment: April 27–May 5 to Mersin port. 🏬 Bonded warehouse stocks in Turkey allowed; local supplies excluded. 3️⃣ 🇯🇴 Jordan – Wheat Tender 🌾 🌾 Up to 120K MT of milling wheat. 🌍 Optional origins. 📅 Price offers deadline: April 21. 🚢 Shipment lots: 60K MT consignments. 📦 Shipment windows: June 1–15, June 16–30, August 1–15, August 16–31. 📊 Last reported tender on April 7: about 60K tons bought. 💵 Estimated price: $275.95/ton c&f. 🚢 Previous shipment: second half of July. #TenderDigest #AgMarkets

🇺🇸 NOPA March Sends a Mixed Market Signal 🏭 🫛 U.S. soybean crush stayed historically strong, yet still came in below trade expectations, while soyoil stocks also missed estimates. 🛢️ That keeps the crush story firm on throughput, but the oil side looks less comfortable than the market had penciled in. Strong processing is there, though inventories did not build as much as expected. 📌 Takeaway: solid operational demand, but not the kind of report that fully loosens the soyoil balance. 👇 How are you reading this mix of strong crush and lower-than-expected soyoil stocks? #Soybeans #NOPA

🇪🇺 EU Trade Is Becoming Less Import-Dependent 🚢 🌾 This season’s flows point to a firmer internal EU balance: grain imports are down across key products while exports remain resilient. In vegetable oils, demand looks more selective, with stronger soyoil and rapeseed oil imports but softer sunflower oil and palm oil flows. 📌 A shift worth watching for trade competitiveness and nearby demand. 👇 Which matters more right now: softer EU grain imports or the shift in vegetable oil demand? #EUTrade #GrainMarkets

🇺🇸 USDA Has Issued a Correction To The April 9 Export Inspections Report 🚢 📊 The revised data turns the weekly tone softer across the board: corn, soybeans, and wheat were all lower than first reported, and soybeans no longer show a weekly increase. 📌 That keeps the demand picture more cautious, with soybeans still relatively firmer year-on-year, but the broader export flow looking weaker than the initial release suggested.

🇺🇸 US Grains & Oilseeds: Mixed Export Flow, Steady Crop Progress 🚢 🫛 Soybeans were the main bright spot in this week’s export inspections, while corn and wheat lost some weekly momentum. That leaves the demand picture mixed, with soybean movement looking firmer but no broad-based acceleration across the grain complex. 🚜 Crop progress still points to a steady early-season pace. 🌽 Corn planting reached 5%, slightly ahead of the average, while 🫛 soybean planting moved to 6%, well ahead of normal. 🌾 Spring wheat was 6%, close to the seasonal pace, and barley reached 13%, also ahead of average. Winter wheat heading advanced to 11%, but crop conditions remain weaker than a year ago, with 34% rated good/excellent versus 47% last year. 🗨️ Which part of this update do you think the market will focus on first? #USDA #USGrains

🇧🇷 Brazil: Record Crop, Uneven Market Signals 🚜 🫛 Conab’s latest update keeps Brazil’s 2025/26 grain outlook broadly positive, led by record soybean production and a larger overall crop. 🌽 Corn remains mixed, with first-crop gains offset by a weaker second crop, while 🌾 wheat looks tighter on lower output and lower stocks. ❔ How are you reading Brazil’s latest grain balance update? #Brazil #Conab

🇩🇿 Algeria OAIC – Durum Wheat Tender 🌾 🌾 Nominal 50K MT of durum wheat. 🌍 Origin: optional. 📅 Price offers deadline: April 15. 🕒 Offers valid until: April 16. 🚢 Shipment windows: May 16–31, June 1–15, June 16–30. #DurumWheat #Algeria

🚢 Tender Digest – Apr 13, 2026 📦 1️⃣ 🇹🇭 Thailand – Feed Wheat Purchase 🌾 🌾 Around 60K MT of feed wheat bought by a group of animal feed importers. 📅 Tender closed: April 7. 💵 Estimated price: around $278/ton c&f liner out. 🚢 Shipment: May. 🌾 About 60K MT of Australian feed wheat bought by another buyer group (April 2). 📌 Traders’ estimates only; prices and volumes may still change. 2️⃣ 🇹🇷 Turkey TMO – Sunflower Oil Tender 🌻 🌻 12K MT (+/-10%) of crude sunflower oil. 📅 Price offers deadline: April 16. 🚢 Shipment: April 27 – May 22 to Mersin. 📦 Volume split: 2 × 6K MT. #AgriTrade #Tenders

🇲🇾 Exports Tighten Malaysia’s Palm Oil Balance 🌴 🚢 Malaysia’s March palm oil market turned tighter as stronger exports more than offset a recovery in production, pulling stocks down for a third straight month to a seven-month low. 📌 That keeps the near-term tone supportive, with April export pace now the key signal to watch. 👇 Will export momentum be enough to keep palm oil prices supported into April? #PalmOil #Malaysia

🇧🇷 Brazil Exports Stay Strong – Soybeans Lead The Pace 🚢 🫛 Brazil’s April shipment schedule remains solid, with soybeans leading and soybean meal still stronger year-on-year. 🌽 Corn is also picking up, reinforcing Brazil’s weight in nearby export flows. ❔ Which market do you think reacts first to this export pace? #Soybeans #Brazil

🌎 April WASDE: Looser Wheat and Corn, Tighter Soybeans 📊 🌾 Bigger crops in the 🇪🇺 EU and russia, plus weaker use in 🇮🇳 India, pushed global wheat stocks higher, while lower exports from 🇺🇦 Ukraine, 🇦🇺 Australia, and 🇧🇷 Brazil were only partly offset by russia and 🇰🇿 Kazakhstan. 📦 Trade expectations for wheat ending stocks were 277.07 MMT, with the report coming in above that level. 🌽 Corn also leaned slightly heavier, supported by stronger production and export potential in 🇮🇳 India, 🇿🇦 South Africa, and russia. 📦 Trade expectations for corn ending stocks stood at 293.07 MMT, with the report slightly above that level. 🫛 Soybeans were the exception, with slightly tighter global ending stocks and stronger crush in the 🇺🇸 U.S., 🇧🇷 Brazil help offset higher production and comfortable supplies. 📦 Trade expectations for soybean ending stocks were 125.51 MMT, with the report coming in below that level. 🇺🇸 In the U.S., wheat ending stocks rose to the highest since 2019/20, corn demand stayed above last year, and soybean crush increased again despite lower exports. 📌 Takeaway: this WASDE looked less like a supply shock and more like a shift in trade flows, with Black Sea and EU wheat, heavier corn competition, and South America still setting the soybean tone. 👇 Which of these shifts do you think matters most for near-term trade flows? #WASDE #AgMarkets

🇨🇳 China’s Balance Sheet Is Steady – But The Market Is Still Watching The Pressure Points 📊 🌽 China’s April CASDE update leaves corn, soybeans and edible vegetable oils broadly unchanged m/m, but the market message is not entirely neutral. Corn still faces a softer nearby tone from cautious buying, soybeans remain weighed by comfortable supply, and vegetable oils stay steady for now with rapeseed weather risk still in focus. 📌 Takeaway: No major shift in the balance sheet, but sentiment still looks sensitive to demand pace, supply comfort, and crop conditions. 💬 Which of these markets do you think is most vulnerable to a sentiment shift in the near term? #China #CASDE

🚢 Tender Digest – Apr 9, 2026 📦 1️⃣ 🇯🇴 Jordan – Feed Barley Tender 🌾 🌾 ~50K MT bought. 🤝 Seller: Bunge. 💵 Price: $256.95/MT c&f. 🚢 Shipment: 1H August. 🏢 Other offers: CHS $267.97 | Cargill $258.76 | Dreyfus $267.00 | Ameropa $274.48 | Cofco $267.48 | Olam $258.90/MT c&f. 📌 No immediate sign of a new tender. ⚠️ Prices/volumes are trader estimates. 2️⃣ 🇰🇷 South Korea MFG – U.S. Wheat Purchase 🌾 🌾 ~50K MT of U.S. milling wheat bought. 🚢 Shipment: August 1–31. 🏢 Seller believed to be Bunge. 🌾 Soft white: 9.5%–11% protein, mid-$230s/MT FOB. 🌾 Hard red winter: min 11.5% protein, low-$260s/MT FOB. 🌾 Dark northern spring: min 14% protein, low-$280s/MT FOB. 📝 Traders’ estimates; prices/volumes may still change. 3️⃣ 🇰🇷 South Korea Mills – U.S. Wheat 🌾 🌾 Bought: 90K MT U.S. wheat FOB. 📈 Up from: 50K MT. 🏢 Seller: Bunge. 🚢 50K MT: Aug 1–31. 🚢 40K MT: Aug 20–Sep 20. 🌾 Soft white 9.5%–11%: $235.05/ton. 🌾 Soft white max 9%: $239.05/ton. 🌾 HRW min 11.5%: $261.05/ton. 🌾 Northern spring min 14%: $283.05/ton. 📌 Both consignments at these prices. 📌 Prices/volumes may still change. 4️⃣ 🇰🇷 South Korea Cargill Agri Purina – Corn Tender 🌽 🌽 Bought: 68K MT feed corn. 📦 Tender: up to 140K MT. 💵 Price: $272.72/MT c&f + $1.50/MT unloading. 🌍 Origin: South America or South Africa only. ❌ No deal for second 70K MT cargo. 🏢 Seller: Cargill trading group. 📅 Arrival in South Korea: around July 20. 🇿🇦 If South Africa origin: only 50K MT required. 📊 Traders’ estimates; prices/volumes may still change. 📉 Demand stayed strong after prices fell on Iran ceasefire. #Tenders #GrainMarkets

🚢 Tender Digest – Apr 8, 2026 📦 1️⃣ 🇯🇴 Jordan – Wheat Tender 🌾 🌾 Bought: 60K MT hard milling wheat. 🌍 Origin: optional. 💵 Price: $275.95/ton c&f. 🏢 Seller: Buildcom. 🚢 Shipment: second half of July. 🏢 Other offers: Bunge $282 | CHS $279.88 | Cargill $276.83 | Ameropa $284.49 per ton c&f. 📌 Traders: price/volume estimates may still change. ℹ️ No immediate sign of a new tender. 📅 March 31: Jordan also bought 60K tons from Cargill at $275.95/ton c&f for second half of July shipment. 2️⃣ 🇰🇷 South Korea FLC – Feed Corn Tender 🌽 🌽 Bought: ~67K MT of feed corn. 🌍 Origin: optional worldwide. 🏢 Seller: Mitsui. 💵 Price: $257.98/ton c&f. 📍 Arrival in South Korea: around July 25. 📦 Shipment windows by origin: 🇺🇸 U.S. PNW: June 6 – July 5. 🇺🇸 U.S. Gulf: May 17 – June 15. 🌎 South America: May 12 – June 10. 🇿🇦 South Africa: May 26 – June 26. ⚖️ Seller may choose origin. 🚢 If from U.S. Gulf via Panama Canal or South Africa: 55K MT required. 3️⃣ 🇰🇷 South Korea KFA Incheon – Corn Tender 🌽 🌽 Bought: 66K MT of animal feed corn. 🌍 Origin: optional. 🚢 Arrival in South Korea: around July 20. 💵 Price: $259.60/MT c&f. 🏢 Seller: believed to be Olam. 🇺🇸 If from U.S. Pacific Northwest: shipment June 6-30. #TenderDigest #GrainTrade

🇪🇺 EU Trade Flows Are Shifting – Grains Look Firmer, Oils More Selective 🚢 🌾 EU grain trade looks firmer, with stronger wheat and barley exports and lower imports across key grains. That points to a less import-dependent grain balance, even as corn flows remain softer. 🫛 In oilseeds and veg oils, imports look more selective, with weaker soybean and rapeseed buying and a shift toward soyoil and rapeseed oil over sunflower seed oil and palm oil. 👇 Which shift in the EU trade mix stands out most to you? #EU #Commodities

🌾 Global Grain Market Report – Preview (Apr 7, 2026) 📊 Want full access to the report? 🔗 Subscribe via Patreon: patreon.com/c/ProspexAgro 📱 Note for iOS users: for the standard subscription rate, we recommend subscribing via Patreon on the web rather than in the iOS app. 💬 For subscription details, contact us or email us at analyst@prospex-agro.com or back-office@prospex-agro.com 📰 Prospex*Agro Weekly Reports cover: 🌾 Grains (wheat | corn | barley); 🌱 Oilseeds (soybeans | rapeseed | sunflower | meals | veg oils). #GrainMarkets #Oilseeds

🇺🇸 U.S. Grain Exports Still Look Mixed, But The Tone Remains Constructive 🚢 🌽 Corn continues to lead, with inspections, YTD pace, and February exports all ahead of last year. 🫛 Soybeans posted stronger February exports, but weekly inspections still lag year-ago levels. 🌾 Wheat is more mixed: exports are up and heading is slightly ahead of average, but crop ratings in the selected states are weaker than a year ago. 🚜 Corn planting is slightly ahead of normal, while spring wheat is slightly behind and barley is near average. 📌 Takeaway: Corn still shows the strongest demand signal, soybeans remain mixed, and wheat keeps the market focused on both export flow and crop conditions. 👇 How are you reading the current export pace across corn, soybeans, and wheat? #GrainExports #USDA

🇹🇭 Thailand – Australian Feed Wheat Tender 🌾 🌾 Bought around 60K MT of Australian-origin feed wheat. 💰 Estimated price: $274/MT c&f liner out. 📅 Tender closed: April 2. 🚢 Shipment positions: June, July, August and/or September. 📌 Traders’ estimates; price and volume may still be revised. #FeedWheat #Thailand

🌴 Palm Oil Is Trading With A Much Tighter Story Behind It 🌴 📈 FCPO closed Week 14 at RM4,838/ton, up RM208 on the week, while crude oil jumped to $112.06 and soyoil rose to 69.00, keeping the broader veg oil complex supported. 🚢 The bigger shift is policy-driven demand. 🇮🇩 Indonesia exported 4.54 mln tons in Jan-Feb, up 36.26% y/y, but the July 1 rollout of B50 is expected to lift biodiesel feedstock demand to 15 mln tons this year, 2 mln tons above last year. At the same time, Indonesian palm exports are projected to ease to 30 mln tons from 32 mln, and 🇹🇭 Thailand is tightening crude palm oil exports from April 7, adding another layer of supply control to the regional market. 🇲🇾 In Malaysia, the picture remains constructive: March production is forecast at 1.34 mln tons (+4.7%), exports at 1.55 mln tons (+37%), while stockpiles are seen falling to 2.19 mln tons (-19%). Export inspections were also strong, with ITS at 1.64 mln tons (+42.6%) and AmSpec at 1.61 mln tons (+56.72%). 📌 Takeaway: palm oil is being supported not only by energy strength, but by rising biodiesel demand, firm export flow and a tighter regional supply outlook. ❔ How do you see the current balance between biodiesel demand and export availability in the palm oil market? #PalmOil #Biodiesel