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Fastmarkets’ weekly recap of the main movements in global cash markets.
Wheat output in the southern Brazilian state of Rio Grande do Sul increased to 4.12 million tonnes in the 2024 crop year, according to state agency Emater/RS, 1.2% above the previous estimate of 4.06 million tonnes and up by 57.2% from the 2.6 million tonnes harvested in 2023.
Soymeal futures spiked along with soybeans after the USDA released the November edition of its World Agricultural Supply and Demand Estimates (WASDE) report on Friday November 8, cutting back US soybean production figures.
Chinese state agencies held an auction for imported soybeans on Friday November 8, where 89,895 tonnes of soybeans were offered though no sales were made, sources told Fastmarkets.
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.
Analysts at the Chinese agriculture outlook committee (CAOC) have kept their estimates for corn, soybeans and vegoils supply and demand in the 2024/2025 crop year unchanged from their October report in the latest China Agricultural Supply and Demand Estimates (CASDE) released on Friday November 8.
Brazilian soybean export estimates in 2024 were cut to 98 million tonnes, from the previous forecast of 99 million tonnes, due to smaller-than-anticipated shipments in October, while corn exports were reduced to 39.5 million tonnes, Brazilian grain exporters’ association Anec said in its weekly report on Thursday November 7.
Canada’s grain and oilseed exports totaled 1.27 million tonnes during the week to Sunday November 3, a decrease of 258,300 tonnes, or 17%, from 1.52 million tonnes the previous week, according to data from the Canadian Grain Commission published on Friday November 8.
Ukrainian farmers have threshed 20.24 million tonnes of corn, gathered from 3.34 million hectares in the week to Thursday, November 7, according to data from the country’s Ministry of Agrarian Policy and Food seen by Fastmarkets.
The soybean CFR China (Brazil) basis assessment for December shipment was assessed...
Indian imports of edible oil are expected to fall despite higher consumption of the product due to higher domestic production, the president of the Solvent Extractors Association of India (SEA) said at
the annual Indonesia Palm Oil conference on Friday November 6.
In Argentina, recent rainfall boosted soil moisture in the week to Wednesday November 6, enhancing conditions for crop sowing, according to a Buenos Aires Grains Exchange (BAGE) report released on Thursday November 7.
Soybean futures rose double digits on the Chicago Mercantile Exchange on Thursday November 7, supported by expectations of a production cut from the USDA in its World Agricultural Supply and Demand Estimates (WASDE) report to be released on November 8 and by the uptrend in soyoil, with market participants expecting potential new trade barriers with China after Donald Trump won the US presidential election.
Dry and unseasonably warm weather in the Black Sea region during the week beginning Thursday November 7 is likely to challenge winter wheat establishment.
Sales of both old and new Argentine soybean crop decreased during the week to October 30, while corn and wheat diverged among different market years, according to data released by Argentina’s agriculture secretariat on Wednesday November 6.
President-elect Donald Trump’s victory in the US could bring different outcomes across the soybean complex. A potential trade war with China could have several impacts on global commodity markets, especially beans, with Chinese demand potentially shifting to other origins such as South America, sources have told Fastmarkets.
US soybean meal sales for the 2024/25 marketing year continued to climb sharply during the week to October 31, data from the US Department of Agriculture (USDA) showed on Thursday November 7.
US weekly soybean net sales for the 2024/25 crop year totaled 2 million tonnes in the week to October 31, down by 10% from 2.27 million tonnes the previous week and landing within market estimates, the USDA reported on Thursday November 7.
Ukrainian exports of soybeans and processed sunflower products decreased during the week to November 6, while rapeseed exports increased, data from the Ministry of Agrarian Policy showed on Thursday November 7.
The soybean CFR China (Brazil) basis assessment for December shipment was assessed...