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US and European wheat futures declined on Monday October 14 after much-needed rain fell in grain-growing regions in Argentina and on speculation that parts of the US Great Plains will soon experience precipitation.
Fastmarkets sat down with Esteban Jaramillo Reyes, managing director of Mexico's National Chamber of Industrialized Corn (CANAMI), at the Export Exchange conference in Fort Worth, Texas, last week to discuss current challenges facing corn producers and the new administration's plans regarding genetically modified corn restrictions and imports.
The Russian wheat harvest progressed by another 4 percentage points to 97% complete in the week ended Monday October 14, exceeding 85.8 million tonnes including the harvest from occupied territories, according to data seen by Fastmarkets on Monday.
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 winter grains sowing campaign in Ukraine advanced by 17 percentage points to 72% complete in the week ended Monday October 14, with 3.7 million hectares planted out of the 5.18 million ha planned for 2025/26, the country's Ministry of Agrarian Policy said.
Saudi Arabia’s General Food Security Authority (GFSA) bought 360,000 tonnes of wheat according to an official notice published by the agency on Monday October 14.
Chinese state agencies will be holding an auction for imported soybeans on Wednesday October 16, where around 239,000 tonnes will be offered for sale, according to a note published by the National Grain Trade Center (NGTC) on Monday October 14.
China imported 11.37 million tonnes of soybeans in September 2024, estimates from the country’s General Administration of Customs (GACC) showed on Monday October 14.
Canada’s top growing regions are wrapping up harvest work, with Saskatchewan leading the way and expecting to conclude work within the next week, according to provincial reports released on October 7-8 and collated by Fastmarkets.
The General Authority for Supply Commodities (GASC) announced the vegetable oil tender on Sunday October 13, after prioritising sunflower oil in the previous three tenders, ignoring soybean oil because of its high cost, and last buying it in an international tender in June, sources told Fastmarkets.
India’s corn consumption could spike in 2025 amid expectations that the government may hike its ethanol mandate and force increased use of the grain, trade sources told Fastmarkets in the week to Friday October 11.
Investors in the US corn and soybean markets, as well as in two of three wheat contracts, reduced net short positions in the week to Tuesday October 8, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday October 11.
Crude palm oil (CPO) futures rebounded sharply on Friday October 11 to close the week higher for a fourth straight week, with support coming from a firm vegoil complex and positioning ahead of the weekend and USDA’s World Agricultural Supply and Demand (WASDE) report.
Russia’s Ministry of Agriculture held a meeting with Russian grain exporters on Friday October 11 and supported a push for direct export sales, “bypassing traders and intermediaries from other countries,” the Russian Union of Grain Exporters (Rusgrain Union) said on its official channel on Telegram Messenger on the same day.
Fastmarkets’ weekly recap of the main movements in global cash markets.
US corn futures declined on Friday October 11 amid increased domestic production projections in the USDA's World Agricultural Supply and Demand Estimates (WASDE) report update.
Soybean futures fell on the Chicago Mercantile Exchange on Friday October 11, following the USDA’s World Agricultural Supply and Demand Estimates (WASDE) update.
US and European wheat futures declined on Friday October 11 after the USDA’s influential World Agricultural Supply and Demand Estimates (WASDE) report reduced global production estimates by less than some market participants projected.
Insurance rates for ships out of Ukraine could potentially be raised due to an increase in Russian attacks on Ukrainian deep-sea ports during the week to Friday October 11, which have damaged terminals and vessels, sources told Fastmarkets.
The US Department of Agriculture has slightly reduced its estimate for US soybean production, missing market expectations, while keeping ending stocks in 2024/25 unchanged, the World Agricultural Supply and Demand Estimates (WASDE) report showed on Friday October 11.