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China’s total soybean imports reached a record 105 million tonnes in 2024, 6.5%, or 6.42 million tonnes higher than the 98.6 million tonnes reached in 2023, according to data released by the country’s General Administration of Customs (GACC) on Monday January 13.
Soybean futures rose sharply on the Chicago Mercantile Exchange on Friday January 10, after the US Department of Agriculture cut its estimates for soybean production, yield and ending stocks in the US, also reducing its global ending stocks — all more aggressive reductions than market participants expected.
Fastmarkets’ weekly recap of the main movements in global cash markets.
Soyoil futures jumped in the Commodities Mercantile Exchange on Friday January 10, reaching their highest level since November last year, while the price of crude palm oil (CPO) broke a two-day losing streak and clawed back some earlier losses.
Corn futures rallied across the US and Asia on Friday January 10, supported by tightening global supplies and active cash trade in South Korea and Ukraine.
US wheat futures were mixed on Friday January 10, with market participants digesting several government reports that pointed to higher domestic 2024/25 ending stocks and increasing winter crop acreage.
An EU effort to impose new rules on deforestation may be forcing a change in the way palm oil and palm products trade in Rotterdam, Europe’s primary production and logistic hubs, trade sources told Fastmarkets on Friday January 10.
The USDA’s December quarterly stocks outlook update, released on Friday January 10, delivered tighter-than-expected corn and soybean reserves in the US, while wheat stocks were slightly higher than projected by market participants.
US corn yields were at a record high in 2024 despite a decline in production, while soybean output increased on expanded acreage, according to the USDA’s annual crop production summary report released on Friday January 10.
The annual Winter Wheat and Canola Seedings report released on Friday January 10, along with a big batch of other USDA reports, put planted area for the 2025 US winter wheat crop at 34.1 million acres, up by 2% from 2024 and exceeding projections.
Soybean and soymeal futures rallied, while soyoil prices rose only marginally, after the USDA published the January edition of its World Agricultural Supply and Demand Estimates (WASDE) report on Friday January 10 showing lower-than-expected figures for soybean output and ending stocks in 2024/25.
The US Department of Agriculture has cut its forecast for US ending stocks, production and yield in 2024/25 below market estimates while keeping the forecast for Brazilian soybean output unchanged in its World Agricultural Supply and Demand Estimates (WASDE) report released on Friday January 10.
The US Department of Agriculture’s World Agricultural Supply and Demand Estimates (WASDE) report update for January projects lower corn production, usage and ending stocks.
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The US Department of Agriculture increased its estimates for US and global wheat ending stocks for the 2024/25 marketing year, while leaving domestic production and export projections unchanged, according to the monthly update to its World Agricultural Supply and Demand Estimates (WASDE) report published on Friday January 10.
US net soybean sales fell to 288,700 tonnes during the week to January 2, a marketing-year low and a drop of 40% from 484,700 tonnes the previous week and 72% lower than the previous four-week average, US Department of Agriculture (USDA) data showed on Friday January 10.
South Korean feed-making association Major Feedmills Group (MFG) has bought two cargoes of corn after closing out an international buy tender, trade sources told Fastmarkets on Friday January 10.
The German 12.5% FOB wheat APM for February loading was assessed at an €10 per tonne premium over the March Euronext contract...
The pace of Ukrainian grain exports was slowed by the Christmas holiday period and amounted to 881,365 tonnes declared during the first 10 days of January, according to data released by the country’s State Customs Service on Friday January 10.
The Russian government has lowered export taxes for wheat, but rose export taxes for corn and barley for the short period of January 15-21, the country’s agriculture ministry said on Friday January 10.