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As its harvest has come to an end, Argentina’s soybean crop totaled 50.5 million tonnes in the 2023/24 crop year, up by 119.5% year on year, while corn harvest advanced strongly in the week ended Wednesday July 3, the Buenos Aires Grains Exchange (BAGE) said in its weekly crop report update on Thursday July 4.
Brazilian soybean exports reached a record 13.9 million tonnes in June, with soyoil exports up by 4%, while corn and wheat shipments declined, customs data showed late on Wednesday July 4.
Germany’s vegetable oil trade group UFOP warned that current global rapeseed production forecasts suggest there will not be enough of the oilseed available to meet demand and pushed for more planting in 2025 in a press release published on Thursday July 4.
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...
The Rio Grande port authority in Brazil’s Rio Grande do Sul state has started the dredging process to clear the inner and outer channels in the entry point to the port, where silting was more severe, following floods in the state back in May.
Ukraine’s harvest accelerated in the week to Thursday July 4 and reached 6% completion, with all regions joining the campaign, according to government data released on Thursday.
The United Nations’ Agricultural Market Information Service (AMIS) increased both its global corn and wheat output forecasts and marginally reduced its soybean production outlook in its July update, released on Thursday July 4.
With the US on a national holiday on Thursday July 4, direction for the global corn market was restricted with only Europe and Asia to deliver perspectives.
The September Wheat Euronext contract rebounded on Thursday July 4, up by €2.75 per tonne from the previous day’s settlement to €226 ($242) per tonne as of 5:21pm Central European Time, while the December contract rose by €2.50 per tonne to €232.75 per tonne.
Crude palm oil (CPO) futures dipped slightly on Thursday July 4, tracking similar movements in some vegetable oil futures and lower crude oil prices.
The soybean market was mostly muted in the Americas on Thursday July 4 as trading of benchmark futures contracts on the Chicago Mercantile Exchange was halted amid the national holiday in the US, with trading to resume in the overnight session.
Drier weather in the upper Midwest in the US is expected to promote crop development and assist in shrinking pockets of excessive wetness.
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The Russian grain crop harvest progressed by 8 percentage points through the week ended Wednesday July 3, according to the data seen by Fastmarkets on Thursday.
Tunisia’s state grain importer has awarded a total of six cargoes in two separate international tenders, according to documents seen by Fastmarkets on Thursday July 4.
Australian barley exports in May exceeded the Australian Bureau of Agricultural and Resource Economics and Sciences’ (Abares) forecast, while rapeseed exports increased and wheat exports dropped on decreased volumes to China, according to monthly data from Abares.
Brazil’s federal government increased the amount of resources for Plano Safra — a subsidized agricultural credit program — for the 2024/25 marketing year by 10% to a record 400.6 billion Real ($72.1 billion), up from the previous year’s 364.2 billion Real.
Ukrainian exports of sunflower oil, sunflower meal and soybean meal increased in the week to July 3, official data from the Ministry of Agrarian Policy showed on Thursday July 4.
Rouen milling wheat exports were down by 54% on the week, falling to 56,281 tonnes from 110,343 tonnes in the week to Wednesday July 3, according to data released by port operator Haropa.
Brazil´s second corn crop is expected to reach 100.5 million tonnes, down by 9.9% from the 111.5 million tonnes in the 2022/23 crop year, due to losses caused by dry weather in Paraná and Mato Grosso do Sul, but partially offset by positive results in Mato Grosso and Goiás, local consultancy Agroconsult said.