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The 2024/25 corn sowing has started early in Argentina amid concerns over a lack of rain and the impact of leafhoppers on new crop planted area reduction. The old crop harvest has come to an end, reaching 46.5 million tonnes, reflecting a 25.6% increase from a year earlier, according to the weekly report published by the Buenos Aires Grains Exchange (BAGE) on Thursday September 5.
Brazilian soybean, corn and products exports fell in August, compared to the same month a year earlier, according to customs data released on Thursday September 5.
Heavy rainfall in China and Australia during the week beginning Thursday September 5 is expected to improve soil moisture levels and benefit crops such as wheat and barley. In contrast, drought conditions are forecast to continue in several agricultural areas in the US, affecting corn and soybean.
US corn futures trended lower on Thursday September 5 due to profit-taking, with loses limited by the spread of drought in the Midwest, increasing crop stress during a key developmental stage in a critical corn production area.
The Ukrainian corn crop harvest advanced to 2% complete in the week ended Thursday September 5, 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.
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US weekly ethanol production decreased by 10,000 barrels per day to 1.061 million bpd in the week to Friday August 30, according to data published by the US Energy Information Administration (EIA) on Thursday September 5.
Corn exports from Ukraine have reached their highest level since Russia's attempt at a full-scale invasion began in February 2022, mainly due to improving conditions at the Black Sea ports, with Spain overtaking China as the leading export destination, Ukrainian customs data shows.
US corn futures remained supported on Wednesday September 4 on steady weekly crop conditions and increased total consumption reported by the USDA.
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.
Brazilian soybean exports are expected to reach 5.6 million tonnes in September, up 1.4% versus the 5.5 million tonnes exported in the same period a year earlier, while corn shipments continue to lag in comparison to the previous year's figures, according to the weekly report published by Brazilian grain exporters association Anec on Tuesday September 3.
Sales of Argentine soybeans and corn rose for 2024/25 marketing year but fell for 2023/24 in the week to August 28, while wheat sales rose on both, according to data released by Argentina’s agriculture secretariat on Wednesday September 4.
US corn and soybean crop ratings were reported at 65% in good-to-excellent condition in the week to Sunday September 1, while winter wheat planting has started, the USDA’s weekly crop progress report showed on Tuesday September 3.
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.
Corn consumed for alcohol and other uses in the US totaled 527 million bushels (13.39 million tonnes) in July 2024, up by 6% from the previous month and by 4% year on year, according to the USDA’s monthly Grain Crushings and Co-Products Production report released on Tuesday September 3.
US corn futures remained supported on Tuesday September 3 following the long Labor Day holiday weekend due to spilled-over, double-digit strength in the wheat and soybean markets, and expectations that lower weekly corn crop conditions will be reported for last week.
Sentiment among US agricultural producers plunged in August, with longer-term and short-term projections sharply lower, the Purdue University/CME Group Ag Economy Barometer survey showed on Tuesday September 3.
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 publication of reports that the Chinese government has asked state-owned importing companies to restrict purchases of barley and sorghum in 2024 could be an attempt to keep import volumes below the levels seen in 2023, and this could also be the case for wheat and corn imports, trade sources told Fastmarkets in the week started Monday September 2.
Export inspections of US corn were up by 5% to 965,292 tonnes during the week to Thursday August 29, within market estimates, according to USDA data released on Tuesday September 3.