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US corn futures moved higher on Monday July 29, with gains limited by rain forecast across the Midwest, providing relief to crops following dry and hot conditions last week.
Export inspections of US soybeans were up 19% to 403,268 tonnes in the week ending Thursday July 25, from the 338,255 tonnes recorded a week earlier, USDA data showed on Monday July 29.
Export inspections of US corn were up by 7% to 1.06 million tonnes during the week to Thursday July 25, above the range of analysts' estimates, USDA data released on Monday July 29 showed.
Export inspections of US wheat jumped by 64.2% to 431,233 tonnes during the week to Thursday July 25, from 262,610 tonnes the previous week, according to data from the USDA released on Monday July 29.
Investors in US soybean and corn contracts, as well as two of three wheat contracts, cut short positions in the week to Tuesday July 23, helping to trim soybean net short positions, which had reached a record high the week prior, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday July 26.
Tunisia's state grain importer has issued an international tender to buy 50,000 tonnes of durum wheat for shipment between September and October, according to a document seen by Fastmarkets on Monday July 29.
Indonesia’s palm oil exports in May fell by 9.7% month on month to 1.966 million tonnes, according to a release by the Indonesian Palm Oil Association (Gapki) on Monday July 29.
The Russian wheat harvest is nearly the halfway point, with 46.4% of the planned area completed, according to data available to Fastmarkets on Friday July 26.
The US wheat harvest is advancing rapidly under hot and dry weather conditions, with the soft red winter (SRW) harvest wrapping up this week, the latest harvest report from the US Wheat Associates (USWA) showed on Friday June 26.
Soybean futures posted two-digit losses on improved weather conditions forecasts for the US and a strong decline in soyoil futures on Friday July 26.
Vegoils prices were mixed across regions on Friday July 26, with a stronger undertone across commodities in Asia and plummeting soyoil prices in the Americas, while futures on the Chicago Mercantile Exchange dropped steeply due to expectations of lower biofuel demand in the US.
US corn futures trended lower on Friday July 26 on profit-taking, following four consecutive days of support amid dry US weather conditions.
US wheat futures across all three classes continued lower, falling double digits on Friday July 26 due to the advancing US wheat harvest and overall good crop conditions reported by the US Wheat Associates.
Fastmarkets’ weekly recap of the main movements in global cash markets.
South Korean feedmaking association Major Feedmills Group (MFG) has tendered and bought a 60,000 tonne cargo of South American soymeal, sources have told Fastmarkets Friday, July 26.
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.
South Africa’s Crop Estimates Committee (CEC) released its sixth production forecast for summer crops in 2024 on Friday July 26.
The Russian government has significantly reduced its wheat export taxes, while the indicative price level has come closer to the levels seen in the physical market, according to an update from the agriculture ministry on Friday July 26.
Brazil’s Paraná state raised its 2023/24 second corn crop production forecast to 12.96 million tonnes, up from the 12.95 million tonnes in the June, after increasing both its planted area and yield estimates, the state's agricultural agency Deral, said in its monthly report on Thursday July 25.
The German 12.5% FOB wheat APM basis assessment for September loading was assessed unchanged at a €1 per tonne premium to the December Euronext wheat contract...