Latest News
Soybean futures went down on the Chicago Mercantile Exchange on Tuesday October 29, with market participants focusing their attention on the progress of planting in South America, supported by better weather conditions, and with the US harvest nearing completion.
Crude palm oil (CPO) futures surged on Tuesday October 29 to close at a 28-month high, with the most-active contract on the Bursa Malaysia exchange making most of the gains during the last two hours of trading after staying rangebound for most of the day.
The USDA attaché in Bulgaria reduced its forecast of the country’s corn production in 2024/25 to the lowest level in more than a decade because of summer heat and drought, while barley production will climb substantially and wheat output will be marginally higher.
US and European wheat futures increased on Tuesday October 29 after a government report showed that winter wheat crop conditions in the US were much worse than projected by analysts, as dry conditions continued to be experienced in much of the Great Plains.
US corn futures trended higher on Tuesday October 29, with gains limited by the advancing harvest as progress nears completion.
Agriculture exports from Ukraine have fallen since April despite the start of a new marketing year, with new crops entering the market, which has weighed on transshipment costs, sources told Fastmarkets.
Algeria’s state-backed grain importing agency, OAIC, is expected to close a tender to buy a nominal 50,000 tonnes of wheat on Tuesday October 29, according to a document seen by Fastmarkets.
Brazilian grain exporters association Anec reduced its estimates for the country’s October soybean and corn exports to 4.57 million tonnes and 5.9 million tonnes respectively, the association said in its weekly report on Tuesday October 29.
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.
The European Union’s weekly wheat exports reached 167,456 tonnes in the week to Sunday October 27, according to preliminary data from the European Commission released on Tuesday October 29.
The EU imported a total of 42,281 tonnes of soybeans in the week to Sunday October 27, increasing the yearly total to 3.78 million tonnes, up by 1% year on year, based on preliminary data from the European Commission released on Tuesday October 29.
Tunisia's state grain importer has canceled an international tender to buy 75,000 tonnes of durum wheat for shipment between November and December, according to market participants.
Jordan’s state grain importer has booked 60,000 tonnes of milling wheat for shipment in the first half of January after canceling five tenders in a row since September 18, trade sources told Fastmarkets on Tuesday October 29.
South Korean feed importer Nonghyup Feed Inc (NOFI) has purchased around 136,000 tonnes of optional-origin feed corn in two consignments for arrival during January via a tender that concluded on Tuesday October 29, trade sources have told Fastmarkets.
Malaysia’s palm oil exports during October 1-25 continued to show a rise from September, with volumes estimated at 1.25 million tonnes, according to data from cargo surveyor Intertek Testing Services (ITS).
US corn, soybean and sunflower harvest progress remained above five-year averages in the week to Sunday October 27, while winter wheat planting progress and crop conditions were lower year on year, the USDA’s weekly crop progress report showed on Monday October 28.
The Fishing and Maritime Cabotage Skippers’ and Officials’ Center (Centro de Patrones y Oficiales Fluviales de Pesca y de Cabotaje Marítimo) in Argentina has announced that it will join the transport stoppages in the country on Wednesday October 30, interrupting the loading of cargoes at ports.
The US Department of Agriculture’s (USDA) attaché in Argentina left his forecast of the country’s wheat and barley production in 2024/25 unchanged while cutting its corn output estimate, with wheat export projections boosted while exports of the other two grains were cut.
Soybean futures went down on the Chicago Mercantile Exchange on Monday October 28, pressured by soyoil amid a sharp decline in crude oil and driven by ample supply and fast progress of the US soybean harvest. Market participants also monitored uncertainty over the US election.
Soyoil futures in Chicago fell sharply on Monday October 28, borrowing weakness from plunging crude prices, and erased the bulk of gains accumulated over the previous week while crude palm oil (CPO) prices in Malaysia moved narrowly and Chinese vegoils futures edged lower.