Articles By Leticia Pakulski

India’s government issued a flurry of changes to import duties, export prices, and stock levels in a late-night session that saw a raft of trade updates targeting vegetable oil imports, wheat stocks and both peas and rice, trade sources told Fastmarkets on Friday September 13.

Soyoil and soymeal futures on the Chicago Mercantile Exchange trended higher after the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) report on Thursday September 12 with a lower forecast for upstream soybean ending stocks, despite broadly unchanged balance sheets for the soy products.

US net sales of soybeans for the 2024/25 crop year totaled 1.5 million tonnes in the week ended September 5, within market estimates, data released by the US Department of Agriculture showed on Thursday September 12.

The Brazilian Senate approved on Wednesday September 4 the “Fuels of the Future” bill that increases the mandatory blending of biodiesel in diesel and of ethanol in gasoline and creates national programs for green diesel, sustainable aviation fuel (SAF) and biomethane.

Brazil’s second corn crop (safrinha) harvest reached 99.1% complete out of the 16.3 million hectare projected area in the week to Sunday September 1, a 1.2 percentage point advance and ahead of the 89.2% completion rate in the same period of 2023, national food agency Conab announced on Monday September 2.

US soybean oil exports and sales for the 2023/24 marketing year decreased in the week ended August 22, figures from the USDA showed on Thursday August 29.

The Brazilian grain exporters association, Anec, has reduced its corn, soybean and soymeal export estimates for August, according to its latest weekly report published on Tuesday August 27.

Brazil’s second corn crop (safrinha) harvest reached 97.9% complete out of the 16.3-million-hectare projected area in the week to Sunday August 25, a 1.5 percentage point advance and ahead of the 84% completion rate in the same period of 2023, national food agency Conab announced on Monday August 26.

Brazil is likely to import Argentine soyoil this year amid a tight domestic supply and demand balance for soybeans and downstream products, sources told Fastmarkets.

Argentina crushed 4.38 million tonnes of soybeans in July, up by 71.7% from 2.55 million tonnes a year earlier, according to data from the country’s Secretariat of Agriculture, Livestock and Fisheries (SAGyP) released late on Tuesday August 20.

Brazil’s second corn crop (safrinha) harvest reached 94.7% complete out of the 16.3 million hectare projected area in the week to Sunday August 11, a 3.4 percentage point advance and ahead of the 72.4% completion rate in the same period of 2023, national food agency Conab announced late on Monday August 12.

Argentina’s soybean complex exports have started the crop year at a strong pace despite low farmer sales, relying on a larger crop and imported soybeans.

Brazil’s Paraná state raised its 2023/24 second corn crop production forecast to 12.96 million tonnes, up from the 12.95 million tonnes in the June, after increasing both its planted area and yield estimates, the state's agricultural agency Deral, said in its monthly report on Thursday July 25.

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.

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.

Brazil’s second corn crop (safrinha) harvest advanced by 13.1 percentage points in the week to Sunday July 14, reaching 74.2% of the 16.2 million hectare projected area, national food agency CONAB said late on Monday July 15.

Brazil’s second corn crop (safrinha) harvest advanced by 13.2 percentage points in the week to Sunday July 7, reaching 61.1% of the 16.2 million-hectare projected area, national food agency Conab said late on Monday July 8.

US soyoil exports hit a marketing-year high at 29,200 tonnes in the week to June 27, versus 5,100 tonnes shipped in the previous week, reflecting recent strong new commitments for the 2023/24 crop year, the USDA reported on Friday June 5.

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.

Argentina crushed 3.97 million tonnes of soybeans in May, up by 13.6% from a year earlier, but the share of imported soybeans remained high even at the peak of the harvest, reflecting higher availability from Paraguay and lower-than-expected domestic farmer sales.