Soybean
Market News
Speculators in the US corn market continued to reduce short positions while adding longs in the week to Tuesday February 4, sending the net long to the highest level since May 2022, while open interest in corn surged to its highest since March 2021, data from the Commodity Futures Trading Commission (CFTC) released late on Friday February 7 shows.
Rains in Argentina during the week to Friday February 7 brought relief to soybean crops suffering from dry and hot weather. Meanwhile, in Brazil’s Rio Grande do Sul state, which has been facing the same weather conditions and where rains were not as intense, part of the crop already shows a “large reduction” of yield potential, according to local reports.
Fastmarkets’ weekly recap of the main movements in global cash markets.
The UN Food and Agriculture Organization (FAO) lowered its wheat and corn production estimates for the 2024/25 marketing year in its February agricultural market information system (AMIS) report.
US and global soybean ending stocks are expected to fall in the USDA World Agricultural Supply and Demand Estimates (WASDE) report due to be published on Tuesday February 11, a Fastmarkets poll with seven traders and analysts showed.
Canada’s weekly grain exports edged lower in the week to February 2, but increases in wheat and corn shipments almost offset the decline in canola, according to the latest data published by the Canadian Grain Commission on Friday February 7.
Brazilian soybean, corn and soymeal exports are expected to increase year on year in February, while wheat shipments are forecast to fall, the country’s grain exporters association Anec said in its monthly report on Wednesday February 5.
Recent widespread rainfall across Argentina’s core agricultural regions has improved soil moisture conditions for summer crops in the week ending Wednesday February 5, according to the latest update from the Buenos Aires Grains Exchange (BAGE) released on Thursday February 6.
Soybean
Corporate News
Agricultural commodities giant Bunge Ltd reported its third-quarter financial results on Wednesday October 30, reflecting lower earnings year over year in the context of a tight global margin environment.
Singapore-based Wilmar International posted its financial results for the first quarter on Monday April 29, with net profit at $302.9 million...
Wilmar International has confirmed one of its terminals was damaged in an "incident" and estimated that it will take up to six months to repair the facilities destroyed after a missile attack on the Ukrainian port of Pivdenny...
The Louis Dreyfus Company (LDC) reported a $60 million loss for 2023 amid the deconsolidation of its Russian business...
Singapore-based Asian agribusiness giant Wilmar International (Wilmar) saw an increase in its palm fresh fruit bunch (FFB) production in the second half of its 2023 financial year...
The agricultural giant Archer Daniels Midland (ADM) has seen its share prices tumble after it said it had placed its Chief Financial...
Brazil's grain and oilseeds producer SLC Agricola, one of the country´s largest agricultural companies, has cut its soybean...
China's average hog price dropped by 1.4% and 36.6% on the week and year last week, respectively...
Soybean
Policy News
The Ukrainian government has released the minimum export prices for a list of agricultural goods in an official document from the country’s Ministry of Agrarian Policy and Food seen by Fastmarkets on Monday November 11.
India is targeting to boost its domestic edible oil production to 25.45 million tonnes by 2030/31, following the approval of the National Mission on Edible Oils and Oilseeds (NMEO-Oilseeds), the government said in a statement issued in the late evening on Thursday October 3.
India’s government issued a flurry of changes to import duties, export prices, and stock levels in a late-night session that saw a raft of trade updates targeting vegetable oil imports, wheat stocks and both peas and rice, trade sources told Fastmarkets on Friday September 13.
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 Ukrainian government has adopted a minimum export price policy resolution, but the policy may only come into force a few months later, Taras Vysotsky, Ukraine’s acting agrarian policy and food minister said during a weekly Trend and Hedge club meeting late on Wednesday August 21.
With the war in Ukraine ongoing, the government has started to implement measures to bring more people into the army, with a new law implemented from May 18 that all enlisted men are obligated to renew their data in the defense ministry system...
Tang Renjian, the minister of China’s Ministry of Agriculture and Rural Affairs, has been put under investigation by the country’s anti-corruption watchdog...