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Crude palm oil (CPO) futures were higher on Friday May 31 on positive export demand and higher vegoil futures, while Argentina’s soyoil basis strengthened to its highest level since August 2022, Fastmarkets has heard.
Fastmarkets’ weekly recap of the main movements in global cash markets.
US and European wheat futures were mixed on Friday May 31, with forecasts for rain in some drought-stricken areas in the Black Sea region easing concerns that output projections will be cut.
US corn futures are ending the week and month lower, despite initial support earlier in the morning, on lower week-on-week net sales and exports reported on Friday May 31.
South Korean feed importer Major Feedmills Group (MFG) has booked a cargo of feed wheat from agricultural conglomerate ADM for July shipment in a tender announced earlier this week...
Fastmarkets commits to publishing on a daily basis the bids, offers, indicative levels or other cash trading indications...
Fastmarkets invited feedback from the industry on the pricing methodology for several soybean prices via an open consultation process between April 24 and May 23, 2024.
The German 12.5% FOB wheat APM basis assessment for July loading was assessed unchanged at a €9 per tonne discount to the September Euronext wheat contract...
The soybean CFR China (Brazil) basis assessment for July loading was assessed 5 c/bu higher at a premium of 158 cents per bushel to the July CME soybean futures contract...
The Russian government has reduced the export duty on wheat while the zero duty level for barley and corn remained in place for the week of June 5-11...
The US hard red winter (HRW) wheat harvest is well underway in the South, Southeast, Texas and Oklahoma, while test cutting has started in south-central Kansas, the weekly harvest report from the US Wheat Associates (USWA) showed on Friday May 31.
US weekly soyoil net export sales were slightly above market expectations at 10,200 tonnes, while fresh commitments for soymeal exports came in within expectations at 265,500 tonnes during the week to May 23...
The European Commission reduced its estimates for rapeseed, sunflower and soybean production in the EU compared with its April forecasts, according to official data released on Friday May 31.
US weekly net sales reductions of wheat for the 2023/24 crop year totaled 60,900 tonnes in the week to May 23, down noticeably from the previous week and the prior four-week average, the US Department of Agriculture (USDA) said on Friday May 31.
US soybean net export sales for the 2023/24 crop year amounted to 329,400 tonnes in the week to May 23, up by 18% from the previous week’s 279,400 tonnes, data from the US Department of Agriculture showed on Friday May 31.
US weekly corn net sales totaled 810,100 tonnes for 2023/24 in the week to May 23, down by 11% from the previous week and down by 2% from the prior four-week average, according to data from the US Department of Agriculture released on Friday May 31.
Ukraine’s weekly grain export pace increased by 20% week on week to 1.33 million tonnes amid strong demand from destinations and the approaching 2024/25 crop, government data showed on Friday May 31.
The European Commission has slightly raised its forecast for usable soft wheat production in the 2024/25 marketing year by 60,000 tonnes to 120.24 million tonnes, it said in a monthly update published on Friday May 31.
China’s imported soybean auction held on Friday May 31 had around 152,200 tonnes sold out of the 1,005,000 tonnes offered, yielding a clearance rate of 15.14%, sources have told Fastmarkets.
French soft wheat growing conditions deteriorated further in the week to Monday May 27, while planting of the corn crop advanced to 85%, according to a weekly crop report published by French farm agency FranceAgriMer on Friday May 31.