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The US Department of Agriculture has reduced its estimates of US wheat stocks and production for the 2024/25 marketing year, while also reducing its expectations for global ending stocks.
Despite lower planted and harvested area, total US production for the 2024/25 marketing year is projected to increase by 47 million bushels to15.147 billion bu (384.75 million tonnes) on increased yield per acre.
Soyoil and soymeal futures trended lower after the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) report on Monday August 12, despite broadly unchanged balance sheets while upstream soybean ending stocks were increased significantly.
Export inspections of US soybeans were up by 22% to 326,546 tonnes in the week ended August 8 compared with the 266,883 tonnes recorded a week earlier, data from the US Department of Agriculture showed on Monday August 12.
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 Russian wheat crop harvest reached 56% complete out of the 29.8 million hectares planned for the 2024/25 campaign in the week ended August 9, according to data seen by Fastmarkets on Monday August 12.
Export inspections of US wheat rose by 37.99% to 649,199 tonnes during the week to Thursday August 8, from 470,482 tonnes the previous week, according to data from the USDA released on Monday August 12.
Export inspections of US corn were down by 23% to 974,677 tonnes during the week to Thursday August 8, below market estimates, according to USDA data released on Monday August 12.
Canada’s top crop-growing regions continued to endure crop damage due to insufficient moisture and increasing heat in the week to August 5-6, although recent thunderstorms have provided some relief, as reported in provincial reports collated by Fastmarkets.
China’s agriculture outlook committee (CAOC) has raised its estimates for 2023/24 soybean imports and consumption, while also increasing its estimates for corn imports and vegoil production for the period, according to the committee’s latest monthly Chinese Agricultural Supply and Demand Estimates (CASDE) released on Monday August 12.
Malaysia’s palm oil stocks fell to 1.733 million tonnes at the end of July, down by 5.35% month on month, according to figures released by the Malaysian Palm Oil Board (MPOB) released on Monday August 12, with the drop exceeding earlier industry estimates.
Investors in US soybean, corn and wheat contracts slashed short positions in the week to Tuesday August 6, helping to reduce net short positions, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday August 9.
Crude palm oil (CPO) futures continued to recover amid pre-weekend positioning and ahead of the July supply and demand data due from the Malaysian Palm Oil Board (MPOB) on August 12.
Soybean futures extended losses on the Chicago Mercantile Exchange on Friday August 9, with market participants taking positions ahead of the publication of the USDA’s supply-and-demand report amid expectations of an increase in US production forecasts.
US corn futures moved lower on Friday August 9 ahead of next week's USDA's World Agricultural Supply and Demand Estimates (WASDE) monthly update, which is expected to reflect higher domestic corn crop numbers.
US wheat futures advanced on Friday August 9 as market participants took positions before the USDA’s influential World Agricultural Supply and Demand Estimates (WASDE) report on Monday August 12.
The German 12.5% FOB wheat APM basis assessment for September loading was assessed unchanged at a €2 per tonne premium to the December Euronext wheat contract...
The Russian Ministry of Agriculture has reduced the export duty on wheat and increased it on corn for the week of August 14-20, leaving the duty on barley unchanged, according to data from the official website published on Friday August 9.
The soybean CFR China (USG) basis assessment for September loading was assessed 6...
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.