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South Korean feed making association Major Feedmills Group (MFG) has secured 67,000 tonnes of US corn and 67,000 tonnes of South American corn after settling its latest buy tender, trade sources told Fastmarkets on Friday November 15.
Canada’s grain and oilseed exports totaled 1.54 million tonnes during the week to Sunday November 10, an increase of 271,900 tonnes (21%) from 1.27 million tonnes the previous week, according to data from the Canadian Grain Commission published on Friday November 15.
The French corn harvest advanced by 13 percentage points in the week to November 11, with 71% of the total planted area now harvested, according to the latest weekly report from the country’s farm office, FranceAgriMer, released on Friday November 15.
The Black Sea region is expected to experience unseasonably warm temperatures during the week beginning Thursday November 14, with highs reaching 25°C. This atypical warmth during late autumn could influence the development of winter wheat and barley crops, potentially affecting their dormancy and growth cycles.
US corn futures trended lower on Thursday November 14 amid a rising US dollar and improved drought conditions in main growing areas.
The Ukrainian corn harvest progressed by 7 percentage points to 88.5% of the total planned area in the week ended November 14, with 22.3 million tonnes brought in from the fields as of the latest data, according to the Ministry of Agrarian Policy and Food.
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.
Algerian state feed importer ONAB has issued a new tender for 240,000 tonnes of corn, sources told Fastmarkets on Thursday, November 14.
US weekly ethanol production increased by 8,000 barrels per day to 1.113 million bpd in the week to Friday November 8, according to data published by the US Energy Information Administration (EIA) on Thursday November 14.
Brazilian food agency Conab has increased its estimate for the country's soybean crop in 2024/25 to 166.14 million tonnes and corn output was raised to 119.8 million tonnes, following favorable weather for crop sowing and development, while increasing soybean 2024 export estimates to 98 million tonnes, its monthly report showed on Thursday November 14.
Concerns have been mounting over a potentially significant reduction in Russia’s grain export quota for the second half of the 2024/25 marketing year, as Russian grain exports continue at an almost record pace while production has dropped, sources told Fastmarkets.
US corn futures moved lower on Wednesday November 13, on nearly complete harvest reported by the USDA on Tuesday November 12 afternoon.
South Korean buyers remained active in the market, recently buying 65,000 tonnes of wheat and up to 133,000 tonnes of corn privately and via tenders, sources told Fastmarkets on Wednesday November 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.
Euronext's commitment of traders report for the week to Friday November 8 shows bearish momentum continued in wheat futures as the net-short position widened.
France's state-backed farm agency FranceAgriMer has further reduced its forecast for total wheat exports from France to 9.89 million tonnes from the previous forecast of 10.03 million tonnes, down by 40.5% from the 16.6 million tonnes exported in the 2023-2024 marketing year.
US corn and soybean harvest progress has less than 10% to go for completion as of the week to November 10, and winter wheat conditions improved week on week, the USDA’s weekly crop progress report showed on Tuesday November 12.
The French Ministry of Agriculture has raised its forecast for 2024 corn production to 14.62 million tonnes, slightly up from last month’s estimate of 14.47 million tonnes, as reported on Tuesday November 12.
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.
US corn futures trended lower on Tuesday November 12, due to lower weekly inspections and nearly complete harvest work projected, with losses capped by global demand.