Charlie;
I see this on my DTN Agdata Ag news;
"Brazil Seeks Other Wheat Sources
06/05 06:22
High prices and poor quality are leading many Brazilian millers to look to the U.S. and other origins for their wheat imports, traders told OsterDowJones.
"The price at Santos port is the same for U.S. and Argentine wheat, but quality from the U.S. is better," said Fernando Augusto Ribeiro de Souza, a trader with the Anaconda mill in Sao Paulo.
He added that both U.S. and Argentine wheat arrives at Santos port for around $177 a metric ton, including import tariffs paid on U.S. wheat. "Excluding the tax, it would be much more attractive to import from the U.S.," said Ribeiro de Souza. Millers pay an 11% import tariff on U.S. wheat, while Argentina, which is part of the Mercosur trade bloc, is exempt.
Ribeiro de Souza added that in the northeast of Brazil, it is around $7 per ton cheaper to import from the U.S. than from Argentina, due to lower freight charges and the absence of a 25% maritime tax on freight.
He said Anaconda recently imported half a ship of wheat (15,000 metric tons) from Canada, and another full ship (30,000 metric tons) is on its way.
"The cost-benefit of Canadian wheat is very good. It's the Rolls Royce of wheats and we like to have some on hand to blend in with lower-quality Argentine produce," said Ribeiro de Souza."
My question is what price is Brazil paying for this wheat?
If it is a 1CWRS, which it sure sounds like....
177US, minus freight... say $30US with Tariff, minus Import Tariff of 11%... another $15US... we are at $132US or 1.35 times this... $178/t CDN or $75CDN below initials?
Is this possible Charlie?
It sure looks to me that US/Cdn wheat is talked about in the same breath..., with no quality distinction being made in this article...
How do we find out how much the CWB actually got?
I see this on my DTN Agdata Ag news;
"Brazil Seeks Other Wheat Sources
06/05 06:22
High prices and poor quality are leading many Brazilian millers to look to the U.S. and other origins for their wheat imports, traders told OsterDowJones.
"The price at Santos port is the same for U.S. and Argentine wheat, but quality from the U.S. is better," said Fernando Augusto Ribeiro de Souza, a trader with the Anaconda mill in Sao Paulo.
He added that both U.S. and Argentine wheat arrives at Santos port for around $177 a metric ton, including import tariffs paid on U.S. wheat. "Excluding the tax, it would be much more attractive to import from the U.S.," said Ribeiro de Souza. Millers pay an 11% import tariff on U.S. wheat, while Argentina, which is part of the Mercosur trade bloc, is exempt.
Ribeiro de Souza added that in the northeast of Brazil, it is around $7 per ton cheaper to import from the U.S. than from Argentina, due to lower freight charges and the absence of a 25% maritime tax on freight.
He said Anaconda recently imported half a ship of wheat (15,000 metric tons) from Canada, and another full ship (30,000 metric tons) is on its way.
"The cost-benefit of Canadian wheat is very good. It's the Rolls Royce of wheats and we like to have some on hand to blend in with lower-quality Argentine produce," said Ribeiro de Souza."
My question is what price is Brazil paying for this wheat?
If it is a 1CWRS, which it sure sounds like....
177US, minus freight... say $30US with Tariff, minus Import Tariff of 11%... another $15US... we are at $132US or 1.35 times this... $178/t CDN or $75CDN below initials?
Is this possible Charlie?
It sure looks to me that US/Cdn wheat is talked about in the same breath..., with no quality distinction being made in this article...
How do we find out how much the CWB actually got?
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