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Soybean futures on the Chicago Mercantile Exchange (CME) surged on Thursday May 2 due to short covering, following gains in soymeal and soyoil prices.
US corn futures remained supported on Thursday May 2 on possible planting progress delays due to rain and escalating tensions in the Black Sea, with gains limited by lower week-on-week net sales and exports.
US wheat futures rose for the first time in four sessions on Thursday May 2 after weather forecasts indicated rainfall in the prime growing areas in North America and continued dry weather in Russia, and a government report showed that US sales volumes were within expectations.
In the US, rain in the western Corn Belt was slowing fieldwork, but has improved drought conditions for crops.
The US Department of Agriculture's attaché in Argentina kept its 2023/24 soybean output estimate unchanged at 49.5 million tonnes while projecting a 51 million tonnes production in 2024/25.
The United Nations Food and Agriculture Organization (FAO) has raised its wheat and corn production estimates for the 2023/24 marketing year in the May agricultural market information system (AMIS) report.
Fastmarkets Agricensus commits to publishing on a daily basis the bids, offers, indicative levels or other cash trading indications on any basis and geography that relates to any of the vital markets that have strong ties with Ukraine.
The German 12.5% FOB wheat APM basis assessment for June loading was assessed down €1 per tonne to a €1 per tonne premium to the September Euronext wheat contract...
Freight rates for vessels carrying palm oil from Southeast Asia to key destinations in the region were steady from the previous week, supported by a healthy volume of inquiries.
According to Ukraine’s Ministry of Agriculture, sowing of spring grains in the country during the week ending Thursday May 2 showed a significant week-on-week increase of 15.3 percentage points.
US net soyoil sales dropped by 56% in the week to April 25 after the previous week’s significant increase, while soybean cake and meal sales fell by 57% week on week, according to data from the US Department of Agriculture released on Thursday May 2.
Rouen milling wheat exports were down by 37% in the week to Wednesday May 1 at 63,000 tonnes, according to data released by port operator Haropa.
The soybean CFR China (Brazil) basis assessment for June loading was assessed 2 c/bu higher...
US soybean net export sales for the 2023/24 crop year rose by 96% to 414,000 tonnes in the week to April 25 from 210,900 tonnes in the previous week, data from the US Department of Agriculture showed on Thursday May 2.
US weekly net sales of corn totaled 758,500 tonnes for the 2023-2024 crop year in the week ended April 25, down by 42% from the previous week and by 1% from the prior four-week average, according to USDA data.
Weekly exports of sunflower meal and sunflower oil jumped in the week to Thursday May 2, while soybean exports fell to their lowest levels since the start of the 2023/24 season, official data shows.
Ukrainian agriculture exports through Black Sea ports in April were the highest since the full-scale war started, while rail export fell to the lowest level since April 2022, according to official statistics from the agriculture ministry.
Direction across much of the wider vegetable oil complex reverted to the United States on Wednesday May 1, with great swathes of the trading world suspended due to international holidays.