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In Argentina, recent rainfall during the week to December 11 improved soil moisture, creating better conditions for crop sowing, according to a Buenos Aires Grains Exchange (BAGE) report released on Thursday December 12, 2024.
Weather conditions are forecast to remain mostly beneficial for crops in Brazil and Argentina during the week beginning Thursday December 12, underpinning expectations of good soybean and first corn crop yields.
Global corn futures softened on Thursday December 12; Ukraine FOB levels firmed amid strong domestic demand, while across the Americans prices fell.
Fastmarkets commits to publishing daily the bids, offers, indicative levels, or other cash trading indications on any basis and geography related to any vital markets with strong ties with Ukraine.
Brazilian food agency Conab has trimmed its estimate for the country's total corn crop in 2024/25 to 119.63 million tonnes while marginally increasing its projection for soybean output to 166.2 million tonnes, its monthly report showed on Thursday December 12.
US weekly corn net sales for the 2024/25 crop year totaled 946,900 tonnes in the week to December 5, a 45% drop from the previous week and 32% below the prior four-week average, according to the USDA’s latest report released on Thursday December 12.
US corn futures on the Chicago Mercantile Exchange and Dalian prices remained supported on Wednesday December 11 amid good global demand. In the US, Gulf FOB prices eased despite rising ethanol production and lower stocks. In South America, Argentina's offers softened slightly and Brazilian crop progress continues to advance.
Fastmarkets commits to publishing daily the bids, offers, indicative levels, or other cash trading indications on any basis and geography related to any vital markets with strong ties with Ukraine.
US weekly ethanol production increased by 5,000 barrels per day to 1.078 million bpd in the week to December 6, according to data published by the US Energy Information Administration (EIA) on Wednesday December 11.
Farmers in Brazil’s largest agricultural-producing state of Mato Grosso sped up the pace of forward sales of soybeans and corn in November, backed by higher prices, good soybean crop conditions and the need to raise funding to lock in input costs for the second corn crop, Mato Grosso’s agriculture state agency IMEA said late on Monday December 9.
Brazilian soybean sowing reached 94.1% of the projected area of 47.3 million hectares in the week ended Sunday December 8, a weekly advance of 4.1 percentage points. This surpassed the 89.9% completion rate from a year earlier, national food agency Conab said in its weekly crop progress report published late on Monday December 9.
Corn markets saw broad gains, with Chicago Mercantile Exchange futures climbing alongside rising Dalian Commodity Exchange (DCE) prices due to a lowered Chinese production forecast, while firmer Ukrainian prices and increased US export demand highlighted robust global activity.
The USDA's World Agricultural Supply and Demand Estimates (WASDE) report update released on Tuesday December 10 highlights key changes to the US corn outlook, including increased usage (ethanol production as well as food, seed and industrial use), higher exports and reduced ending stocks.
Fastmarkets commits to publishing daily the bids, offers, indicative levels, or other cash trading indications on any basis and geography related to any vital markets with strong ties with Ukraine.
The European Union's weekly wheat exports amounted to 207,333 tonnes in the week to Sunday December 8, according to initial data from the European Commission.
Brazilian grain exporters association Anec increased its estimates for soybean, corn, soymeal and wheat in its weekly report on Tuesday December 10.
China’s Agriculture Outlook Committee (CAOC) has lowered its 2024/25 estimates for the country’s edible vegetable oil imports by 700,000 tonnes to 7.73 million tonnes from the previous month’s 8.43 million tonnes in its December update of the Chinese Agricultural Supply and Demand Estimates (CASDE) released on Tuesday December 10.
Brazilian corn exports totaled 1.17 million tonnes in the first week of December, while soybean exports totaled 665,672 tonnes, customs weekly data showed on Monday December 9.
US corn futures edged higher while Dalian prices softened on Monday December 9. Ukrainian prices were steady amid firmer buying interest, and US exports gained momentum, contrasting with reduced Brazilian shipments due to strong domestic demand.
Fastmarkets commits to publishing daily the bids, offers, indicative levels, or other cash trading indications on any basis and geography related to any vital markets with strong ties with Ukraine.