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US and European wheat futures rose on Monday September 30 on concerns about global output and on higher export prices from Russia, the world’s biggest producer and exporter of the grain.
The USDA’s September quarterly stocks outlook update delivered tighter-than-expected corn and soybean reserves, while wheat stocks were slightly higher than projected by market participants.
US wheat production totaled 1.97 billion bushels (53.62 million tonnes) in 2024, up by 9% from 1.81 billion bu in 2023, data from the US Department of Agriculture showed on Monday September 30.
Weather extremes have hit winter, barley and corn yields, and thus cut production in Russia, according to the latest EU Monitoring Agricultural Resources (MARS) report.
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 German 12.5% FOB wheat APM for November loading was assessed at a €8 per tonne premium over the December Euronext contract...
The US Department of Agriculture’s (USDA) local attaché in Morocco projects that the country’s wheat production will drop in the 2024/25 marketing year after the Moroccan government released its final estimates for the 2024 crop.
Turkey's wheat production is projected to remain above the five-year average, despite the challenges arising from extreme summer heat across the country, according to the latest EU Monitoring Agricultural Resources (MARS) report.
Export inspections of US wheat slipped by 25.7% to 536,929 tonnes during the week to Thursday September 26, from 722,608 tonnes the previous week, according to USDA data released on Monday September 30.
Ukraine's winter sowing campaign is under way and had advanced on 946,600 hectares in all regions of the country as of Monday, September 30, according to data from the agriculture ministry.
The Russian wheat harvest progressed another 7 percentage points to the 88% complete through the week ended Friday September 27, exceeding 80.9 million tonnes, according to data seen by Fastmarkets on Monday September 30.
The Vancouver port strike — which began at 7am US Pacific time on Tuesday September 24, shutting down key grain terminals and threatening Canada’s agricultural exports during a crucial harvest period — came to an end on Friday September 27.
Western Australia has been reinstated at the main wheat exporting state in Australia after almost a year of losing out to competition from New South Wales (NSW), Victoria and South Australia, sources told Fastmarkets on Monday September 30.
Investors in the United States soybean and corn markets slashed short positions in the week to Tuesday September 24, helping trim net short positions, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday September 27.
US wheat futures declined on Friday September 27, with additional downward pressure derived from the remaining US hard red spring (HRS) and northern durum wheat harvests having less than 5% progress remaining.
The German 12.5% FOB wheat APM for November loading was assessed at an €8 per tonne premium over the December Euronext contract...
Fastmarkets’ weekly recap of the main movements in global cash markets.
The US hard red spring (HRS) and northern durum wheat harvests are nearly complete, with less than 5% remaining, according to the last harvest report of the year from the US Wheat Associates (USWA), released on Friday September 27.
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 pace of Ukraine’s weekly grain exports was up by 12% week on week and amounted to 769,125 tonnes declared, according to data released by the country’s State Customs Service on Friday September 27.