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The International Grains Council (IGC) has raised its world grain production estimates for the 2023/24 marketing year by 3 million tonnes to 2.3 billion tonnes in its latest monthly report, due to a revision in wheat estimates and a record-breaking corn harvest.
Canadian farmers are planting less wheat, canola and corn in 2024 while bolstering the acreage planted with soybeans, Statistics Canada (Stat Can) said in a report on Thursday June 27.
After two weeks of strong export sales results for soyoil, US net reductions totaled 10,600 tonnes for 2023/24 — a marketing-year low — in the week to June 20, the USDA reported on Thursday June 27.
South Korean feed importer Korea Feed Association (KFA) picked up an additional corn cargo for November-arrival in a private deal late on Thursday June 27, sources told Fastmarkets.
Thai private buyer Betagro has secured a feed wheat cargo for August shipment in a tender that closed on Wednesday June 26, trade sources told Fastmarkets.
US weekly corn net sales of the 2023/24 crop totaled 542,200 tonnes in the week to June 20, up by 6% from the previous week but down by 39% from the prior four-week average, according to the latest data from the US Department of Agriculture published on Thursday June 27.
Ukrainian weekly sunflower oil exports continued to be sluggish in the week ended June 26 amid lower prices, while sunflower meal exports jumped, official data showed on Thursday June 27.
US soybean weekly export sales were down by 49% in the week to June 20 at 282,900 million tonnes from the previous week’s 556,500 tonnes, the US Department of Agriculture reported on Thursday June 27.
South Africa’s Crop Estimates Committee (CEC) released its fifth production forecast for summer crops in 2024.
Rouen milling wheat exports were down by 37% week on week, falling to 110,343 tonnes in the week to Wednesday June 26 from 175,204 tonnes previously, according to data released by port operator Haropa.
US weekly net sales of wheat for the 2024/25 crop year totaled 667,200 tonnes during the week to June 20, the US Department of Agriculture said on Thursday June 27.
Saudi Arabia state grain importer General Food Security Authority (GFSA) has returned to the market for 595,000 tonnes of optional-origin milling wheat in its third tender so far in 2024, it said on its website on Thursday June 27.
Algeria’s state grains agency is understood to have bought about 130,000 to 150,000 tonnes of milling wheat in an international tender on Wednesday June 26, seeking limited shipment to two ports only.
South Korean feed importer Feed Leaders Committee (FLC) is in the market for up to 60,000 tonnes of feed wheat for arrival in either October or November via a tender issued Thursday June 27, sources told Fastmarkets.
South Korean corn importers continued their buying spree in the week to Thursday June 27, with a fourth importer Korea Feed Association (KFA) picking up one cargo in a tender which concluded on the same day, sources told Fastmarkets.
Fastmarkets will not publish any price assessments for wheat, corn, barley, vegoils and meals from Ukraine and Russia, along with assessment for corn loaded from Constanta-Varna-Burgas (CVB) on Friday June 28 due to the Constitution Day holiday in Ukraine.
Fastmarkets has corrected its US, Brazil and China (US Gulf) soybean crush margins, which were published incorrectly on June 20.
Soyoil futures in Chicago rebounded steeply to erase the previous day’s losses on Wednesday June 26, when Phillips 66 announced a ramp-up in the run rate of one of its biofuels plants in the US, and crude palm oil (CPO) futures in Malaysia traded marginally higher with support from firmer related vegoils and stronger crude oil values.
Soybean futures were mixed on Wednesday June 26 amid stronger soyoil and lower soymeal futures.
The Indian government has introduced a 500,000 tonne tariff rate quota (TRQ) on corn imports as well as new levels for milk powder, rapeseed oil and crude sunflower oil, in an official document released on Wednesday June 26.