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Soybean futures on the Chicago Mercantile Exchange (CME) rose on Friday May 3, returning to the $12-per-bushel level after a month, due to soymeal gains and growing concerns over floods in Brazil’s Rio Grande do Sul.
Nearby contracts of US corn futures declined on Friday May 3, but overall corn futures held on to gains amid potential planting progress delays in the US and output concerns in South America, with Brazil enduring floods and Argentina output projections decreasing due to leafhoppers and thermo-hydric stress on crops.
The soybean CFR China (Brazil) basis assessment for June loading was assessed 3 c/bu higher...
Losses in soybean production in Brazil’s Rio Grande do Sul are expected to total 1 million-2 million tonnes, sources told Fastmarkets; the state has been facing damages due to floods and landslides since April 29 and will continue to receive large volumes of rain in the next few days.
Russia’s wheat exports from Black Sea ports totaled 969,993 tonnes during the week to Thursday May 2, with Bangladesh overtaking Egypt as the leading destination, Fastmarkets analysis of port line-up data showed on Friday May 3.
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Fastmarkets’ weekly recap of the main movements in global cash markets for April 29-May 3.
The April sunflower crush in Ukraine decreased by 2-2.5% compared with the previous month, according to various estimates, contrary to expectations of a more significant decline due to dwindling available sunflower stocks, sources told Fastmarkets.
The Russian government has further reduced the export tax on wheat and barley, leaving the tax on corn at zero, for the period May 8-14, according to an official note from country’s agriculture ministry released on Friday May 3.
The UN's Food and Agriculture Organization Food Price Index (FFPI) rose by 0.3 points in April after significant growth in March on the back of the increased prices of vegoils and cereals, the FAO said on Friday May 3.
Some Ukrainian crushers were considering a switch to the processing of rapeseed in the new harvest, due to a possible shortage of sunflower, market sources told Fastmarkets on Friday May 3.
Conditions for French soft wheat and barley were stable in the week to Monday April 29, but remained much worse than last year’s crop, according to the latest report from the French farm office, France AgriMer, published on Friday May 3.
Ukraine's declared grain export volumes exceeded 1.3 million tonnes in the week ending Friday May 2, according to the State Customs Service of Ukraine.
Algeria’s state grain importer started its 2024/25 marketing year wheat purchasing on Thursday May 2, with the price paid at around $249-250 per tonne CFR for July shipment, sources told Fastmarkets.
The soybean harvest in the Brazilian state of Rio Grande do Sul advanced 10 percentage points in the week to Thursday May 2, to 76% of the sown area, despite strong rains, according to state agency Emater/RS.
Russian spring grain and oilseeds planting progressed by almost 10 percentage points during the week ending Thursday May 2, according to data from the agriculture ministry.
Canada exported 611,200 tonnes of grain and oilseeds in the week ended Sunday April 28, down by 29%, data released on Friday May 3 by the Canadian Grain Commission shows.
Sales of Argentine new crop soybean and corn rose while sales for the old crop dropped in the week to April 24; meanwhile, wheat increased in both market years, according to data released by the country’s agriculture secretariat on Thursday May 2.
Argentina's growers have completed sunflower harvest, while current corn and soybean harvest indications are prompting concerns, the Buenos Aires Grains Exchange (BAGE) said in its weekly crop report update on Thursday May 2.
Crude palm oil (CPO) futures closed in positive territory on Thursday May 2 after trading resumed following the Labor Day/Workers’ Day holiday, recovering some of the losses seen earlier this week.