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Soybean futures on the Chicago Mercantile Exchange edged upward for the second consecutive session on Tuesday July 23, with persistent underlying support from weather-related concerns in the US.
Fastmarkets has corrected its crush margins US soy, $c/bu, which was published incorrectly on July 19.
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 grain exporters association Anec reduced its July soybean export estimates to 10.4 million tonnes from last week´s 10.7 million tonnes forecast, its latest weekly report showed on Tuesday July 23.
Weekly soybean imports into the EU totaled 200,646 tonnes in the week ended Sunday July 21, according to initial data from the European Commission released on Tuesday July 23.
Chinese authorities will offer around 1.02 million tonnes of imported soybeans for auction on July 24, according to a notice issued by the country’s National Grain Trade Center (NGTC) on Monday July 22.
Argentina crushed 3.96 million tonnes of soybeans in June, up by 31.3% from the 3 million tonnes from a year earlier, data from Argentina’s Secretariat of Agriculture Livestock and Fisheries (SAGyP) released late on Friday July 19.
US corn crop conditions declined by 1 percentage point in the week to Sunday July 21, while soybeans, spring wheat and barley remained steady, the USDA’s weekly crop progress report showed on Monday July 22.
Brazilian soybean exports remain strong in July, while corn, soymeal and soyoil exports continue at a slower pace in a year-over-year comparison, customs data showed late on Monday July 22.
Soybean futures on the Chicago Mercantile Exchange started the week of Monday July 22 with double-digit gains, with the market examining US president Joe Biden’s decision to pull out of the election race, along with forecasts of warm weather and limited rain for US producing areas.
China’s soybean imports from Brazil in the first half of 2024 totaled 34.4 million tonnes, 16.1% higher than a year ago and a record high for the corresponding period, according to data from the country’s General Administration of Customs (GACC) released over the weekend.
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 soybeans were up 87% to 327,061 tonnes in the week ended Thursday July 18, from the 175,327 tonnes recorded a week earlier, data from the USDA showed on Monday July 22.
The soybean CFR China (USG) basis assessment for September loading was assessed 1...
Data released by EU vegetable oils and protein flour association Fediol on Monday July 22 showed oilseed processing volumes in the EU increased by just over 1% month on month in June.
The Brazilian government has suspended the country’s exports of poultry meat to China — its main importer — on Friday July 19, as well as restricted shipments for another 43 countries after the confirmation of a case of Newcastle disease in a commercial poultry production unit in the state of Rio Grande do Sul.
Investors in the US soybean and wheat markets accumulated short positions in the week to Tuesday July 16, sending the soybean net short position to a record high, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday July 19.
Soybean futures ended the week lower after starting the day with gains on the back of the uptrend in wheat, with a positive weather forecast for the US keeping ample supply of American beans on the radar.
Fastmarkets’ weekly recap of the main movements in global cash markets.