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Canada’s top crop-growing regions continued to endure crop damage due to insufficient moisture and increasing heat in the week to August 5-6, although recent thunderstorms have provided some relief, as reported in provincial reports collated by Fastmarkets.

Investors in US soybean, corn and wheat contracts slashed short positions in the week to Tuesday August 6, helping to reduce net short positions, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday August 9.

US wheat futures advanced on Friday August 9 as market participants took positions before the USDA’s influential World Agricultural Supply and Demand Estimates (WASDE) report on Monday August 12.

The German 12.5% FOB wheat APM basis assessment for September loading was assessed unchanged at a €2 per tonne premium to the December Euronext wheat contract...

The Russian Ministry of Agriculture has reduced the export duty on wheat and increased it on corn for the week of August 14-20, leaving the duty on barley unchanged, according to data from the official website published on Friday August 9.

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 US hard red winter (HRW) wheat harvest is 80% complete while the reaping of soft white (SW) wheat continues to advance under favorable weather, with reports of excellent yields and high quality, the latest harvest report from the US Wheat Associates (USWA) showed on Friday August 9.

Fastmarkets’ weekly recap of the main movements in global cash markets.

Russia’s wheat export volumes from Black Sea ports totaled 886,507 tonnes in the week ended Friday August 9, largely stable from the previous week, a Fastmarkets analysis of port lineup data showed.

A correction has been issued for this report.

Euronext Clearing informed clients on Friday August 9 that the SICA Nord Céréales approved silo located at Dunkirk in northern France was “unable to take delivery of wheat” as specified in the Milling Wheat No.2 contract expiring on September 10.

Ukraine’s grain exports doubled week on week to 1.2 million tonnes in the week to August 8, according to data from the country’s State Customs Service released on Friday August 9.

Total grains and oilseeds exports from Canada in the 2023/24 marketing year amounted to 43.2 million tonnes, a 2.9 million-tonne (6%) decrease from the previous year, with 761,700 tonnes shipped during the week ended July 31, according to data from the Canadian Grain Commission published on Friday August 9.

French soft wheat conditions fell by 2 percentage points week on week to August 5, according to a weekly report released by farm agency FranceAgriMer on Friday August 9.

The USDA's influential World Agricultural Supply and Demand Estimates (WASDE) report for August is projected to boost its domestic 2024/25 crop ending stocks and production forecasts while slightly trimming global stockpile estimates, according to analysts polled by Fastmarkets.

US wheat futures were little changed on Thursday August 8, with investors taking positions ahead of the release of a USDA report on August 12, while European contracts climbed because of the disappointing French crop.

Forecasts of rain will be a key factor to watch for market participants around the globe this week, as well as low temperatures and potential frosts in South America, Fastmarkets heard on Thursday August 8.

Sales of Argentine soybeans and corn rose for the 2024/25 marketing year but fell for 2023/24 in the week to July 31, while wheat sales increased week on week across both crop years, according to data released by Argentina’s agriculture secretariat on Wednesday August 7.

In Ukraine, the early grain crop harvest advanced by another 5 percentage points to 97% complete in the week to Thursday August 8, according to government data.

US weekly net sales of wheat for the 2024/25 crop year totalled 274,000 tonnes in the week to August 1, down by 4% from the previous week and lower by 23% from the prior four-week average, the US Department of Agriculture (USDA) said on Thursday August 1.