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Russian exporters have started the new marketing year at a relatively sluggish pace after a record-breaking previous season, with 618,246 tonnes of wheat shown as exported from the country’s Black Sea ports in the July 1-12 period, a Fastmarkets analysis of port line-up data showed on Friday July 12.
Fastmarkets’ weekly recap of the main movements in global cash markets.
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.
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.
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.
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.
Canada's grain and oilseed exports fell by 23% to 704,100 tonnes in the week to Sunday July 7, with a decrease in the flow of all major crops, according to data from the Canadian Grain Commission published late on Thursday July 11.
The weather system known as Hurricane Beryl arrived over the US state of Texas early on Monday July 8, causing flooding and tornadoes, before turning into a tropical cyclone and generating rains that were, overall, benefiting crops such as corn and soybeans in the US Midwest.
Ukraine’s harvest is proceeding at an active pace in the week to Thursday July 11 and reached 15% completion, according to government data released on Thursday.
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.
The Russian grain crop harvest progressed by another 7.5 percentage points through the week ended Wednesday July 10, including a wheat harvest that is 21.5% completed, and yields again declined, according to data seen by Fastmarkets on Thursday July 11.
France’s state-backed farm agency FranceAgriMer has left its forecast unchanged for 2023/24 soft wheat exports outside the EU in its monthly outlook published on Thursday July 11.
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.
Spanish warehouses are full of imported grain due to continuing sluggish demand, with buyers holding back in anticipation of being able to purchase better local crops, sources told Fastmarkets on Wednesday July 10.
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.
Weekly wheat exports out of the EU amounted to 480,130 tonnes in the week ended July 7, according to initial data from the European Commission released on Tuesday July 9.
US growing crop conditions improved for major crops in the week to Sunday July 7, with ratings ahead of last week and last year, the USDA’s latest weekly crop progress report showed on Monday July 8.
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.
Yields and production of Kazakh wheat and barley are expected to come in for a strong year, according to the latest EU Monitoring Agricultural Resources (MARS) report published Monday July 8.