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Canada’s top crop-growing regions recorded hot temperatures and limited rain over the past week, prompting crop stress, with concerns growing because warmer conditions are forecast for the week ahead, as reported in provincial reports collated by Fastmarkets.
Soybean futures on the Chicago Mercantile Exchange started the week of Monday July 22 with double-digit gains, with the market examining US president Joe Biden’s decision to pull out of the election race, along with forecasts of warm weather and limited rain for US producing areas.
US wheat futures were mixed on Monday July 22, with market participants continuing to focus on global harvest progress, especially in the US, Russia and Europe.
Crude palm oil (CPO) futures in Malaysia rose on Monday July 22, for the fifth consecutive session, due to higher related vegoil futures and higher export figures while futures across the soybean complex in Chicago soared.
US corn futures rose on Monday July 22 amid overall dry weather forecast for the Midwest growing region.
China’s soybean imports from Brazil in the first half of 2024 totaled 34.4 million tonnes, 16.1% higher than a year ago and a record high for the corresponding period, according to data from the country’s General Administration of Customs (GACC) released over the weekend.
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Export inspections of US corn were down by 11% to 970,539 tonnes during the week to Thursday July 18, within the range of analysts' estimates, data from the USDA released on Monday July 22 showed.
Export inspections of US wheat dropped by 61.7% to 237,965 tonnes during the week to Thursday July 18, from 620,707 tonnes the previous week, according to data from the USDA released on Monday July 22.
Export inspections of US soybeans were up 87% to 327,061 tonnes in the week ended Thursday July 18, from the 175,327 tonnes recorded a week earlier, data from the USDA showed on Monday July 22.
The German 12.5% FOB wheat APM basis assessment for September loading was assessed unchanged to flat against the December Euronext wheat contract...
Forecast corn yields were cut, but most other crops held at yield forecasts close to five-year averages in the EU’s latest Monitoring Agricultural Resources (MARS) report published on Monday July 22.
The soybean CFR China (USG) basis assessment for September loading was assessed 1...
Data released by EU vegetable oils and protein flour association Fediol on Monday July 22 showed oilseed processing volumes in the EU increased by just over 1% month on month in June.
The Russian grain crop harvest progressed by another 10.5 percentage points through the week ended July 19, including a wheat harvest that is 37.8% completed, while yields again declined, according to data seen by Fastmarkets on Monday July 20.
The Brazilian government has suspended the country’s exports of poultry meat to China — its main importer — on Friday July 19, as well as restricted shipments for another 43 countries after the confirmation of a case of Newcastle disease in a commercial poultry production unit in the state of Rio Grande do Sul.
Investors in the US soybean and wheat markets accumulated short positions in the week to Tuesday July 16, sending the soybean net short position to a record high, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday July 19.
Soybean futures ended the week lower after starting the day with gains on the back of the uptrend in wheat, with a positive weather forecast for the US keeping ample supply of American beans on the radar.
The USDA’s cattle on feed report released on Friday July 19 estimated the number of cattle in the nation’s feedlots at 11.3 million head on July 1, in line with market estimates and 1% above last year’s 11.24 million head.