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The US hard red winter (HRW) harvest is 34% complete while the soft red winter (SRW) harvest is winding down, the latest harvest report from the US Wheat Associates (USWA) showed on Friday July 12.
Global wheat prices dropped sharply on Friday July 12 after the USDA increased its US and global production and ending stocks projections for 2024/25 in the influential World Agricultural Supply and Demand Estimates (WASDE) report.
The USDA boosted its estimates of US wheat stocks, production, exports and consumption for the 2024/25 marketing year, while also increasing its global ending stocks and output projections, Fastmarkets has learned.
US corn futures were mixed but overall had support on Friday July 12, with market participants weighing lower-than-expected domestic new crop ending stocks, against overall-higher global production and ending stocks.
The USDA cut its forecast for US ending stocks for 2024/25 below expectations, while reducing US soybean crop output in line with the average market projections, its World Agricultural Supply and Demand Estimates (WASDE) report showed on Friday July 12.
Soyoil future prices spiked after the USDA reported its monthly World Agricultural Supply and Demand Estimates (WASDE) report on Friday July 12 with a cut to US ending soybean stocks for both crops.
The USDA expects larger supplies, higher consumption, more exports and lower ending stocks for the US 2024/25 new corn crop compared with June’s projections, according to the agency’s monthly update to its influential World Agricultural Supply and Demand Estimates (WASDE) report on Friday July 12.
Fastmarkets’ weekly recap of the main movements in global cash markets.
The soybean CFR China (Brazil) basis assessment for August loading was assessed 12 c/bu higher...
The German 12.5% FOB wheat APM basis assessment for August loading was assessed unchanged at a €6 per tonne discount to the December Euronext wheat contract...
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The Russian government has marginally increased the wheat export tax for the week of July 17-23, but left corn and barley taxes at zero, an official update from the agriculture ministry showed on Friday July 12.
Chinese authorities will offer around 547,000 tonnes of imported soybeans for auction on Wednesday July 17, according to a notice issued by the country’s National Grain Trade Center (NGTC) on Friday.
The new-crop corn buying prices have gone up during the week ending Friday July 12 in Romania, with concerns arising for the upcoming corn output because of the hot and dry weather, trade sources have told Fastmarkets.
China’s agriculture outlook committee (CAOC) has maintained its estimates and forecasts for production, consumption and imports for soybean, corn and vegoil for both 2023/24 and 2024/25 marketing years, according to its latest monthly Chinese Agricultural Supply and Demand Estimates (CASDE) released on Friday July 12.
Ukraine's grain exports rose by 8% to 774,000 tonnes in the week to Thursday July 11, with an increase in the flow of barley compensating for a fall in corn exports, according to data from the country’s State Customs Service released on Friday July 12.
South Korean feed importer Major Feedmill Group (MFG) concluded its buy tender for December-arrival corn without making any purchases, sources told Fastmarkets on Friday July 12.
China’s soybean imports rose to 11.11 million tonnes in June, up from May’s 10.22 million tonnes and 10.7% more than the level imported a year ago, figures released by the country’s General Administration of Customs (GACC) on Friday July 12 show.
French soft wheat conditions continued to deteriorate and were estimated at 57% good to very good in the week to July 8, down by 1 percentage point from the previous week, and compares with 80% at the same time last year, according to a weekly report released by farm agency FranceAgriMer on Friday July 12.
Western Australian wheat output is expected to increase by 20% year on year in the 2024/25 marketing year, according to the latest monthly report from the Grain Industry of Western Australia (GIWA), released on Friday July 12.