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South Korean feed importers Nonghyup Feed Inc (NOFI) and Korean Feed Association (KFA) have followed purchases by another importer, Major Feedmill Group (MFG), for corn cargoes, picking up around 130,000 tonnes of corn via private deals for arrival in December and January, sources told Fastmarkets on Wednesday October 16.
South Korean feed importer Major Feedmill Group (MFG) concluded its buy tender for January-arrival corn on Wednesday October 16, picking up two cargoes totaling around 131,000 tonnes of the grain, sources have told Fastmarkets.
US corn crop and soybean harvest progress remained above the five-year averages in the week to Sunday October 13, the USDA’s weekly crop progress report showed on Tuesday October 15.
US corn futures moved lower on Tuesday October 15 on projected improvements in crop conditions and harvest that were above the five-year average.
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.
Export inspections of US corn decreased by 55% to 430,323 tonnes during the week to October 10, from 947,963 tonnes during the previous week, according to USDA data released on Tuesday October 15.
Brazilian grain exporters association Anec raised its estimates for corn and soybean exports in October to 6.2 million tonnes and 4.3 million tonnes, respectively, the association said in its weekly report on Tuesday October 15.
European Union weekly wheat exports totaled 242,801 tonnes in the seven days to Sunday October 13, according to initial data from the European Commission on Tuesday October 15.
Brazilian food agency Conab has slightly reduced its estimate for the country's soybean crop in 2024/25 to 166.05 million tonnes from the 166.3 million tonnes projected in September, and corn output was adjusted to 119.7 million tonnes from the previous 119.8 million tonnes forecast, according to a report on Tuesday October 15.
South Korean feed importer Major Feedmills Group (MFG) is seeking up to 140,000 tonnes of animal feed corn for January-arrival, sources told Fastmarkets on Tuesday October 15.
Brazilian corn exports reached 2.5 million tonnes in the first two weeks of October, while soybean shipments amounted to 1.8 million tonnes, according to customs data released on Monday October 14.
US corn futures started the week lower on Monday October 14, on advancing harvest progress and increased domestic production projections.
Fastmarkets sat down with Esteban Jaramillo Reyes, managing director of Mexico's National Chamber of Industrialized Corn (CANAMI), at the Export Exchange conference in Fort Worth, Texas, last week to discuss current challenges facing corn producers and the new administration's plans regarding genetically modified corn restrictions and imports.
The Russian wheat harvest progressed by another 4 percentage points to 97% complete in the week ended Monday October 14, exceeding 85.8 million tonnes including the harvest from occupied territories, according to data seen by Fastmarkets on Monday.
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.
Canada’s top growing regions are wrapping up harvest work, with Saskatchewan leading the way and expecting to conclude work within the next week, according to provincial reports released on October 7-8 and collated by Fastmarkets.
India’s corn consumption could spike in 2025 amid expectations that the government may hike its ethanol mandate and force increased use of the grain, trade sources told Fastmarkets in the week to Friday October 11.
Investors in the US corn and soybean markets, as well as in two of three wheat contracts, reduced net short positions in the week to Tuesday October 8, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday October 11.
Russia’s Ministry of Agriculture held a meeting with Russian grain exporters on Friday October 11 and supported a push for direct export sales, “bypassing traders and intermediaries from other countries,” the Russian Union of Grain Exporters (Rusgrain Union) said on its official channel on Telegram Messenger on the same day.
Fastmarkets’ weekly recap of the main movements in global cash markets.