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US wheat futures edged lower on Wednesday March 12 when market participants attempted to weigh the effects of a raft of retaliatory actions taken after US President Donald Trump levied import tariffs on goods from the EU, China and Canada.
Algeria’s state grain importer OAIC purchased at least 450,000 tonnes of milling wheat in an international tender on Wednesday March 12 for shipment from May 1-31 to Algerian ports.
Euronext's commitment of traders report in the week to Friday March 7 showed short sellers gaining momentum, with the wheat net-short position driven wider on the week.
Canadian farmers are expected to plant more wheat, corn for grain and oats in 2025 while reducing the acreage planted with canola, soybeans and barley, Statistics Canada (Stat Can) said in a report on Wednesday March 12.
The European Commission has announced countermeasures affecting a broad range of agricultural and industrial goods following the reintroduction and expansion of US tariffs on steel and aluminium from the European Union that came into force on Wednesday March 12.
Iranian state-owned animal feed importer SLAL has issued international tenders to purchase as much as 120,000 tonnes of animal-feed corn, 120,000 tons of feed barley and 120,000 tons of soybean meal, market participants told Fastmarkets.
A correction has been issued for this report.
A berth and vessel loading at the “Brooklyn-Kyiv” grain terminal at Odesa port in southern Ukraine was damaged in a Russian missile attack late on Tuesday March 11, Louis Dreyfus Co (LDC) told Fastmarkets on Wednesday March 12.
A decision on whether to approve imports of wheat into India will not be made before June at the earliest, and the green light will only be given if there is strong evidence of a need to import, trade sources told Fastmarkets on Tuesday March 11.
US and European wheat futures declined on Tuesday March 11 after the USDA boosted its estimates for global wheat ending stocks and production for the 2024/25 marketing year in the March edition of the World Agricultural Supply and Demand Estimates report.
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 USDA boosted its estimates of US and global wheat ending stocks for the 2024/25 marketing year while leaving domestic production unchanged, according to the monthly update to its World Agricultural Supply and Demand Estimates report published on Tuesday March 11.
European cereals and oilseeds association Coceral has forecast 2025 wheat production (excluding durum) to rise to 137.2 million tonnes in the EU27 — the European Union’s 27 members — and the UK, up from the 2024 harvest of 125.1 million tonnes, the association announced on Tuesday March 11.
The Russian government has allocated an additional amount to its wheat export quota for the period from February 15 to June 30, an official document dated Friday March 7 showed on Tuesday March 11.
Ukraine exported 964,000 tonnes of grains in the week to Sunday March 9, down by 2% or 15,000 tonnes from the previous week, according to data from the country’s State Customs Service.
Brazilian soybean exports amounted to 3 million tonnes in the first week of March, while corn shipments reached 446,940 tonnes in the same period, surpassing the volume sent abroad in the whole month a year prior, customs weekly data showed on Monday March 10.
US and European futures climbed on Monday March 10 as market participants positioned ahead of the release of the USDA’s influential World Agricultural Supply and Demand Estimates report on Tuesday March 11 and on concerns about crop health amid dry conditions in some North American growing regions.
Algeria’s state-backed grain importing agency, OAIC, issued a tender for a nominal 50,000 tonnes of milling wheat on Monday March 10, according to a document seen by Fastmarkets.
Export inspections of US wheat decreased by 45% to 216,173 tonnes during the week to Thursday March 6 from 390,591 tonnes the previous week, according to data from the US Department of Agriculture (USDA) released on Monday March 10.
The USDA’s influential World Agricultural Supply and Demand Estimates report for March is projected to marginally reduce estimates for both US and global 2024/25 wheat crop ending stocks, according to analysts polled by Fastmarkets.