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The International Grains Council (IGC) has increased its world grain production forecast for the 2024/25 marketing year by 8 million tonnes to 2.321 billion tonnes in its latest monthly report, which became a new all-time high, due to better wheat yield prospects and higher US corn harvest estimates.
Soybean futures rose for the third consecutive session on Thursday July 18, boosted by a new US flash sale report from the US Department of Agriculture and bargain buying, with additional support coming from soyoil gains.
US corn futures moved down on Thursday July 18 on overall good corn crop conditions; drought conditions improved for corn in the week to July 16, with 5% of corn production areas experiencing drought, down from the previous week’s 7%, the US Drought Monitor reported on July 18.
Vegoils prices were flat to up across most regions and commodities on Thursday July 18, with Chinese rapeoil and European sunoil continuing to rise, while Malaysian CPO was broadly unchanged and Chicago soyoil rebounded somewhat.
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Soyoil export premiums for short-term loadings have increased in Brazil in the week to Wednesday July 17, and the spread between Brazilian and Argentine soyoil bases widened in the past week amid rising domestic soyoil prices in Brazil.
Stakeholders in India’s agriculture and food complex need to consider seriously the role of genetic modification (GM) in boosting the country’s production of oilseeds to meet mounting demand, delegates at the Vegoils Visions 2030 conference have been told.
Ukraine’s harvest reached 24% completion in the week to Thursday July 18, according to government data released on Thursday, while the duration of exposure to high temperatures will determine the effect on the formation of the yield of late crops.
In Ukraine, drought conditions are expected to linger in much of the country, with central, southern and eastern regions expected to see 20-30% reductions in the harvests of late crops such as corn, sunflower seeds and soybeans.
US and European wheat futures were mixed on Thursday July 18, with market participants saying that recent price declines have spurred a flurry of tenders.
The German 12.5% FOB wheat APM basis assessment for September loading was assessed unchanged at a €3 per tonne discount December Euronext wheat contract...
Sales of Argentine old crop and new crop soybean and wheat decreased in the week to July 10, as well as corn sales of the 2023/24 crop, while sales of the 2024/25 corn crop rose, according to data released by Argentina’s agriculture secretariat on Wednesday July 17.
US soybean oil exports for the 2023/24 marketing year totaled 6,500 tonnes in the week to July 11, down by nearly 33% from the previous week and by 45% from the four-week average, the USDA reported on Thursday July 18.
The soybean CFR China (USG) basis assessment for September loading was assessed 7...
The wheat and barley harvest has reached its conclusion in both Romania and Bulgaria after having started earlier this season than usual, with farmers achieving a total crop of 17.8 million tonnes of wheat and 2.6-2.7 million tonnes of barley, market participants told Fastmarkets.
Rouen milling wheat exports were up by 45% week on week, rising to 117,298 tonnes in the week to Wednesday July 17 from 80,843 tonnes in the previous week, according to data released by port operator Haropa.
US weekly soybean net sales rose by 73% in the week ended July 11 to 360,100 tonnes, from the previous week’s 208,000 tonnes. This was within market expectations and was up by 13% compared with the previous four-week average, the US Department of Agriculture reported on Thursday July 18.
US weekly net sales of wheat for the 2024/25 crop year totaled 578,500 tonnes during the week to July 11, up “noticeably” from the previous week and up by 1% from the prior four-week average, the US Department of Agriculture said on Thursday July 18.
US weekly net sales of corn totaled 437,800 tonnes for the 2023/24 crop year during the week to July 11, down by 19% from the previous week and by 10% from the prior four-week average, according to data from the US Department of Agriculture released on Thursday July 18.
Tunisia's state grain importer has issued an international tender to buy 100,000 tonnes of feed barley for shipment in early August to mid-September, according to a document seen by Agricensus on Thursday July 18.