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US and European wheat prices dropped sharply on Monday June 17 after rain across crop-growing regions in Russia eased concerns about crop conditions, and with futures breaking through technical support, spurring further selling.
Fastmarkets 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.
US corn futures trended lower on Monday June 17 ahead of the short holiday week, with declines limited by lower week-on-week crop conditions expected and planting progress trailing last year and the five-year average pace.
Export inspections of US wheat advanced 6.3% to 374,637 tonnes during the week to June 13, up from 352,402 tonnes in the previous week, according to USDA data released on Monday June 17.
Export inspections of US soybeans were up by 43% to 334,237 tonnes during the week to Thursday June 13, compared with 234,061 tonnes recorded a week earlier, data from the US Department of Agriculture showed on Monday June 17.
Weekly export inspection volumes of US corn were down by 4% to 1.29 million tonnes during the week to Thursday June 13, from 1.34 million tonnes recorded during the previous week, data from the US Department of Agriculture showed on Monday June 17.
Chinese authorities will offer roughly 990,000 tonnes of imported soybeans for auction on Friday June 21, according to a notice issued by the country’s National Grain Trade Center (NGTC) on Monday June 17.
Speculators in the US soybean market, as well as two of three wheat contracts, boosted their net short positions in the week to Tuesday June 11, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday June 14.
Soybean futures ended the week in negative territory amid pressure from a stronger US dollar, despite support from crude oil and soymeal.
Crude palm oil (CPO) futures recovered from the losses in the previous day and ended higher on Friday June 14 following technical positioning and some support from a weaker Malaysian ringgit.
The soybean CFR China (Brazil) basis assessment for July loading was assessed 16 c/bu lower at a premium of 153 cents per bushel to the July CME soybean futures contract...
US and European wheat prices decreased on Friday June 14 after rain spread over some crop-growing regions in Russia and Ukraine’s agriculture ministry increased its wheat production forecast.
Fastmarkets 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.
Fastmarkets’ weekly recap of the main movements in global cash markets.
US corn futures failed to hold on to gains on Friday June 14 amid a strengthening US dollar and overall bearish reports during the week, including unchanged domestic projections reported by the USDA.
Hot weather helped accelerate the US hard red winter (HRW) harvest and crop maturity, and the soft red winter (SRW) harvest advanced this week, the latest harvest report from the US Wheat Associates (USWA) showed on Friday June 14.
The Russian government decreased the wheat export tax, while corn and barley duties stayed at zero for the June 19-25 period the country's Ministry of Agriculture reported on Friday June 14.
Russia’s wheat exports from Black Sea ports decreased by half compared with the previous week, amounting to 493,905 tonnes in the week ended Friday June 14, a Fastmarkets analysis of port line-up data showed.
The areas sown under wheat recovered in Western Australia amid rains received and replanting of rapeseed areas, the monthly report from the Grain Industry of Western Australia (GIWA) showed on Friday June 14.
Grain volumes declared for export out of Ukraine totaled 942,000 tonnes during the week to Friday June 14, according to data from the country’s State Customs Service.