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In its third forecast for the 2024 crop, trade association Coceral pegged the total grain crop in the EU27 (the EU’s 27 members) and the UK at 296 million tonnes, slightly above the previous forecast of 295.5 million tonnes and up from the 292.8 million tonnes harvested in 2023.
The South Korean Flour Millers’ Association (Kofmia) has booked at least 50,000 tonnes of US-origin milling wheat for August 16-September 15 shipment, sources said on Tuesday June 11.
Japan's agriculture ministry has issued an international tender to buy 109,126 tonnes of US, Canadian, and Australian wheat for loading in August-September, an official note published by the ministry showed on Tuesday June 11.
Egypt’s state-backed General Authority of Supply Commodities (GASC) has issued a fresh tender for optional origin milling wheat for August shipment, after wheat futures logged a sharp drop on Monday June 10
US corn and soybean planting advanced at a slower pace compared to last year in the week to Sunday June 9, while spring wheat and barley exceeded the pace of 2023, the USDA’s weekly crop progress report showed on Monday June 10.
Crude palm oil (CPO) futures slipped on Monday June 10, tracking weaker rival oils prices on Friday June 7 and following May production figures that came in above expectations.
Front-month July soybean futures started the week of Monday June 10 in positive territory with support from crude oil and soymeal gains, with market participants adjusting positions ahead of this week’s World Agricultural Supply and Demand Estimates (WASDE) report.
US and European wheat prices declined on Monday June 10, while market participants told Fastmarkets they anticipate an acceleration in the US harvests in the latest USDA crop conditions report update.
The soybean CFR China (Brazil) basis assessment for July loading was assessed unchanged at a premium of 175 cents per bushel to the July CME soybean futures contract...
The German 12.5% FOB wheat APM basis assessment for July loading was assessed unchanged at a €5 per tonne discount to the September Euronext wheat contract
US corn futures gained support on Monday June 10 due to tactical buying following declines late last week. Support was limited by a higher US dollar, market expectations of a good report this week on US harvest pace, and the fastest second corn crop harvest pace reported in Brazil.
The USDA's influential World Agricultural Supply and Demand Estimates (WASDE) report for June is forecast to bolster its domestic 2024/25 crop-ending stocks and production projections while slightly lowering global stockpile estimates, according to analysts polled by Fastmarkets.
The USDA is expected to raise its projections for US 2024/25 soybean ending stocks in its World Agricultural Supply and Demand Estimates (WASDE) report, due to be released on Wednesday June 12, according to a June 3-7 Fastmarkets poll with 11 traders and analysts.
The Türkish Exporters Assembly (TIM) has warned Turkish authorities about the negative consequences of implementing a wheat import ban for local flour and pasta producers as well as exporters and asked it to reconsider the measure in a letter seen by Fastmarkets on Monday June 10.
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.
Industry participants polled by Fastmarkets ahead of the USDA’s monthly supply and demand update on Wednesday June 12 project the agency will move down US and global ending stocks for both the new and old corn crop, while US production is expected to be unchanged, compared with May estimates.
Export inspections of US soybeans were down 36% to 231,002 tonnes in the week ended June 6 from 361,217 tonnes a week earlier, data from the US Department of Agriculture (USDA) showed on Monday June 10.
Export inspections of US wheat fell 17.6% to 352,202 tonnes during the week to June 6, down from 398,904 tonnes in the previous week, according to data from the US Department of Agriculture released on Monday June 10.
Weekly export inspection volumes of US corn were down by 5% to 1.34 million tonnes in the week to June 6 from the 1.42 million tonnes recorded in the previous week, data from the USDA showed on Monday June 10.
Harvesting of the second corn crop (safrinha) reached 10.4% completion in the center-south of Brazil on Thursday June 6, the highest level on record, according to local consultancy Agrural.