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The Rosario Grains Exchange (BCR) has cut its estimates for Argentina’s wheat crop area, leading to a reduction in the country’s output to 20.5 million tonnes from last month’s forecast of 21 million tonnes, the exchange said in its monthly report on Friday July 12.
Russian exporters have started the new marketing year at a relatively sluggish pace after a record-breaking previous season, with 618,246 tonnes of wheat shown as exported from the country’s Black Sea ports in the July 1-12 period, a Fastmarkets analysis of port line-up data showed on Friday July 12.
The US hard red winter (HRW) harvest is 34% complete while the soft red winter (SRW) harvest is winding down, the latest harvest report from the US Wheat Associates (USWA) showed on Friday July 12.
Global wheat prices dropped sharply on Friday July 12 after the USDA increased its US and global production and ending stocks projections for 2024/25 in the influential World Agricultural Supply and Demand Estimates (WASDE) report.
The USDA boosted its estimates of US wheat stocks, production, exports and consumption for the 2024/25 marketing year, while also increasing its global ending stocks and output projections, Fastmarkets has learned.
Fastmarkets’ weekly recap of the main movements in global cash markets.
The German 12.5% FOB wheat APM basis assessment for August loading was assessed unchanged at a €6 per tonne discount to the December Euronext wheat contract...
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 Russian government has marginally increased the wheat export tax for the week of July 17-23, but left corn and barley taxes at zero, an official update from the agriculture ministry showed on Friday July 12.
Ukraine's grain exports rose by 8% to 774,000 tonnes in the week to Thursday July 11, with an increase in the flow of barley compensating for a fall in corn exports, according to data from the country’s State Customs Service released on Friday July 12.
French soft wheat conditions continued to deteriorate and were estimated at 57% good to very good in the week to July 8, down by 1 percentage point from the previous week, and compares with 80% at the same time last year, according to a weekly report released by farm agency FranceAgriMer on Friday July 12.
Western Australian wheat output is expected to increase by 20% year on year in the 2024/25 marketing year, according to the latest monthly report from the Grain Industry of Western Australia (GIWA), released on Friday July 12.
South Korean feed importer Feed Leaders Committee (FLC) has picked up one cargo of feed wheat for October arrival via a private deal on Friday July 12, sources told Fastmarkets.
Canada's grain and oilseed exports fell by 23% to 704,100 tonnes in the week to Sunday July 7, with a decrease in the flow of all major crops, according to data from the Canadian Grain Commission published late on Thursday July 11.
Brazil's Rio Grande do Sul wheat sowing reached 82% of the total 1.31 million hectares expected, the state agency Emater/RS said in its report, released on Thursday July 11.
Wheat planting for the 2024/25 crop year advanced by 7.6 percentage points during the week to Wednesday July 10 in Argentina to 92.9% of the projected area of 6.3 million hectares, as crops start to show damages caused by severe winter, the Buenos Aires Grains Exchange (BAGE) said in its weekly crop report update on Thursday July 11.
The weather system known as Hurricane Beryl arrived over the US state of Texas early on Monday July 8, causing flooding and tornadoes, before turning into a tropical cyclone and generating rains that were, overall, benefiting crops such as corn and soybeans in the US Midwest.
Ukraine’s harvest is proceeding at an active pace in the week to Thursday July 11 and reached 15% completion, according to government data released on Thursday.
US and European wheat prices climbed on Thursday July 11 as traders covered short positions ahead of the release of the USDA’s influential World Agricultural Supply and Demand Estimates (WASDE) report on Friday July 12.
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.