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US corn crop ratings were reported at 65% in good-to-excellent condition in the week to Sunday September 15, exceeding analysts' projections, the USDA’s weekly crop progress report showed on Monday September 16.
US corn futures fell on Monday September 16 on a good pace in the harvest, but the declines were limited by potentially poorer crop conditions, with mostly dry weather continuing in the country’s Midwest.
The EU’s latest Monitoring Agricultural Resources (MARS) report has forecast that most Ukrainian crop production would be reduced from the volumes seen in 2023 due to a dry summer and the military occupation of eastern parts of the country.
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 were down by 38% to 521,118 tonnes during the week to Thursday September 12, below market estimates, according to US Department of Agriculture data released on Monday September 16.
Torrential rains across central and eastern Europe over the weekend have caused flooding and damage in several countries, most notably Poland and the Czech Republic.
Canada’s Saskatchewan province led the way in harvest progress, with Manitoba and Alberta not far behind, as reported in provincial reports released September 9-10 and collated by Fastmarkets.
Investors in the US soybean, corn and wheat contracts slashed short positions in the week to Tuesday September 10, helping reduce net short positions, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday September 13.
Fastmarkets’ weekly recap of the main movements in global cash markets.
US corn futures rose on Friday September 13 following increased drought conditions in main growing areas and double-digit strength in the wheat market.
Russian wheat exports decreased on a weekly basis, unable to catch up with last year's pace so far, a Fastmarkets analysis showed on Friday September 13.
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 soybean sowed area in Argentina is expected to reach 17.7 million hectares in 2024/25, up by 7.5% from the previous crop year, leading to an expected output of 52 million-53 million tonnes, while the forecast for new crop corn production was increased to 51 million-52 million tonnes, the Rosario Grain Exchange (BCR) said in its monthly report late on Thursday September 12.
Russia has raised its wheat export duty for September 18-24, after cutting it last week, and reduced its corn export duty, the country's agriculture ministry said in an official update on Friday September 13.
Ukraine’s grain export volumes rose to 847,000 tonnes in the week to September 12, up by 315,000 tonnes (59%) from 532,000 tonnes in the preceding seven days, according to data released by the country’s State Customs Service on Friday September 13.
French soft wheat conditions were stable in the week to Monday September 9, according to Friday's weekly report from farm agency FranceAgriMer.
Canada's grain and oilseeds exports rose by 13%, or 76,500 tonnes, week on week in the week ended Sunday September 8, totaling 677,400 tonnes, with gains in corn, soybeans, barley and pea exports outweighed declines in wheat and canola flows, data from the Canadian Grain Commission released on Friday September 13 shows.
US corn overall trended lower on Thursday September 12 following the release of the USDA's September supply and demand monthly report update, which revealed an increase in US production and a projected yield of 183.6 bushels per acre.
Weather conditions in Brazil and Argentina are expected to bring favorable rain in the week beginning Thursday September 12.
The Ukrainian corn crop harvest advanced by 4 percentage points to 6% complete in the week ended Thursday September 12, out of the 4 million hectares planned for the 2024/25 campaign, according to data from the country’s Ministry of Agrarian Policy and Food, released on Thursday.