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Russia’s wheat exports from Black Sea ports totaled almost 2 million tonnes over the two weeks to June 9, with a diverse list of 18 destinations, a Fastmarkets analysis of port line-up data showed on Monday June 10.
Malaysia’s palm oil stock levels came in at 1.75 million tonnes at the end of May, up 0.5% from a month earlier, according to figures released by the Malaysian Palm Oil Board (MPOB) on Monday June 10.
Investors in the US corn and soybean markets, as well as two of three wheat contracts, amassed shorts, boosting their net short positions in the week to Tuesday June 4, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday June 7.
Fastmarkets’ weekly recap of the main movements in global cash markets.
Crude palm oil (CPO) futures ended the week in positive territory, largely supported by gains in related vegoils, though it came off the highs from earlier on Friday June 7 due to profit-taking and pre-weekend positioning.
Front-month July soybean futures returned to negative territory on Friday June 7 pressured by soy product prices, giving back most of the gains from the previous session, despite new flash sales to China.
The pace of soybean exports from Brazil lost momentum in May month on month and year on year, while soymeal shipments remained robust, according to official customs data.
US and European wheat prices dropped on Friday June 7 after Turkey announced a wheat import ban to support domestic farmers and as traders exited long positions on the Chicago Mercantile Exchange before the weekend on concerns that the rally was overdone.
US corn futures fell on Friday June 7 due to profit-taking following nearly double-digit gains the day before.
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...
The Russian Union of Grain Exporters has called on Turkey to postpone the implementation of its wheat import ban in a letter seen by Fastmarkets on Friday June 7.
The Russian government has increased the wheat export tax, leaving the corn and barley tariff at zero for June 12-18 period, the country's Ministry of Agriculture reported on its website on Friday June 7.
The US wheat harvest accelerated as combines rolled again in Texas and Oklahoma after rain delays, and reaping started in southern Kansas, the weekly harvest report from the US Wheat Associates (USWA) showed on Friday June 7.
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.
There is less than a month left until the official start of the new 2024/25 season in Ukraine, and many questions and issues have been raised among the market participants worldwide about what to expect.
The Food Price Index calculated by the Food and Agriculture Organization (FAO) of the United Nations (UN) inched up by 1.1 points in May from April because increases in the price indices for cereal products slightly offset decreases in vegetable oils, the FAO said on Friday June 7.
Grain volumes declared for export out of Ukraine totaled 1.1 million tonnes during the week to Friday June 6, according to data from the country’s State Customs Service.
The Turkish government has announced measures to protect domestic agricultural producers, and will ban wheat imports between June 21 and October 15 this year, according to documents seen by Fastmarkets late on Thursday June 6.
French soft wheat growing conditions slightly improved in the week to Monday June 3, but remained much lower overall compared with previous year, while planting of the corn crop rose to 90%, according to a weekly crop report from French farm agency FranceAgriMer on Friday June 7.