Market Commentary: Wheat Falls Amid Weak Russian Prices; Soyoil Rises on Exports; Macro Markets Boost Cattle
Markets and traders were broadly enthusiastic following the U.S. Federal Reserve’s 50-bps cut to its target interest rate on Wednesday, but you wouldn’t know that from looking at the grain or oilseed markets. Wheat futures were sharply lower on Thursday amid pressure from French whe...
Black Sea Regional Analysis
Russian Grain Markets: 9–13 September 2024 Russian grain markets remained stable with only corn slightly bullish, possibly showing the first real signs of a lower crop this season. Farmers are playing a waiting game switching to sunflower seed trade which is showing bullish sentiments and...
Market Commentary: Grains Drift Sideways as Harvest Looms; Livestock Rally on Strong Cash Trade
The CBOT was mostly sideways on Tuesday with funds still paring back a few shorts in the corn and soy complex while resuming some light selling in wheat futures. There was little fresh news for the day, which contributed significantly to the lack of price action. Russian FOB offers continue to...
WASDE Wheat
WASDE WHEAT: USDA increased their estimate for 2024/25 global wheat supplies by 1.5 million tons to 1,062.1 million as higher beginning stocks were more than offset by lower production. World wheat trade is raised 1.7 million tons to 216.5 million as higher exports for Australia, Canada,...
Black Sea Regional Analysis
Russian Grain Markets: 2–6 September 2024 The Russian grain market is finally showing bullish sentiments. Adverse weather in Russia this season concerns many analysts, and they are one after another decreasing their forecasts for overall grain production. Exact numbers are hard to figure...
Black Sea Regional Analysis
Russian Grain Markets: 26–30 August 2024 Russian grain markets remained relatively stable; however, they are under pressure of a large crop and growing stocks. Even though the 2024 grain crop may be slightly lower than earlier estimates, Russia will have a solid export surplus. Dome...
Black Sea Regional Analysis
Russian Grain Markets: 19–23 August 2024 Kazakhstan announced they will close the borders with Russia for wheat from now until 31 December. This will put even more pressure on the Russian wheat market and may push them to offer softer offers for GASC tenders where they are the key players...
Black Sea Regional Analysis
Russian Grain Markets: 12–16 August 2024 Crop Outlook As of 13 August, Russian farmers produced 69 MMT of grains from 20.6 Mha versus 73.5 MMT from 19.5 Mha last year. The average yield showed 3.36 MT/ha versus 3.76 a year ago. Wheat production reached 56.3 MMT from 15.8 Mha versus 57.4 M...
Black Sea Regional Analysis
Russian Grain Markets: 5–9 August 2024 Crop Outlook Russian analysts woke up to the fact that grain production reported from farms is higher than originally predicted. The reaction was quick and most of the main analytical agencies in Russia reforecast their numbers upwards. Particularly,...
Black Sea Regional Analysis
Russian Grain Markets: 29 July–2 August 2024 Russian Vice Premier Patroushev announced that Russia is 40 percent done with harvesting small grains. The harvesting pace is ahead of last year’s pace; however, production is only 64 MMT which is lower than last year’s crop. The gr...
Black Sea Regional Analysis
Russian Grain Markets: 22–26 July 2024 This season Russia will fail to produce a record crop despite an earlier harvesting campaign. The Ministry of Agriculture believes in their previous forecast of 132 MMT of which wheat is 86 MMT. Interestingly, the Ministry of Agriculture is the most...
Market Commentary: Bears Concentrate on Soybeans, Wheat Scores Reversal
The CBOT started the week with a collapse in soybeans and the broader soy complex in early trade that pulled corn and wheat lower as well. Soybeans, soyoil, and wheat all scored new contract lows in the early selloff with funds eagerly extending their short positions. By the day’s end, ho...
Market Commentary: Wheat Falls Amid Weak Russian Prices; Soyoil Rises on Exports; Macro Markets Boost Cattle
Markets and traders were broadly enthusiastic following the U.S. Federal Reserve’s 50-bps cut to its target interest rate on Wednesday, but you wouldn’t know that from looking at the grain or oilseed markets. Wheat futures were sharply lower on Thursday amid pressure from French whe...
Black Sea Regional Analysis
Russian Grain Markets: 9–13 September 2024 Russian grain markets remained stable with only corn slightly bullish, possibly showing the first real signs of a lower crop this season. Farmers are playing a waiting game switching to sunflower seed trade which is showing bullish sentiments and...
Market Commentary: Grains Drift Sideways as Harvest Looms; Livestock Rally on Strong Cash Trade
The CBOT was mostly sideways on Tuesday with funds still paring back a few shorts in the corn and soy complex while resuming some light selling in wheat futures. There was little fresh news for the day, which contributed significantly to the lack of price action. Russian FOB offers continue to...
WASDE Wheat
WASDE WHEAT: USDA increased their estimate for 2024/25 global wheat supplies by 1.5 million tons to 1,062.1 million as higher beginning stocks were more than offset by lower production. World wheat trade is raised 1.7 million tons to 216.5 million as higher exports for Australia, Canada,...
Black Sea Regional Analysis
Russian Grain Markets: 2–6 September 2024 The Russian grain market is finally showing bullish sentiments. Adverse weather in Russia this season concerns many analysts, and they are one after another decreasing their forecasts for overall grain production. Exact numbers are hard to figure...
Black Sea Regional Analysis
Russian Grain Markets: 26–30 August 2024 Russian grain markets remained relatively stable; however, they are under pressure of a large crop and growing stocks. Even though the 2024 grain crop may be slightly lower than earlier estimates, Russia will have a solid export surplus. Dome...
Black Sea Regional Analysis
Russian Grain Markets: 19–23 August 2024 Kazakhstan announced they will close the borders with Russia for wheat from now until 31 December. This will put even more pressure on the Russian wheat market and may push them to offer softer offers for GASC tenders where they are the key players...
Black Sea Regional Analysis
Russian Grain Markets: 12–16 August 2024 Crop Outlook As of 13 August, Russian farmers produced 69 MMT of grains from 20.6 Mha versus 73.5 MMT from 19.5 Mha last year. The average yield showed 3.36 MT/ha versus 3.76 a year ago. Wheat production reached 56.3 MMT from 15.8 Mha versus 57.4 M...
Black Sea Regional Analysis
Russian Grain Markets: 5–9 August 2024 Crop Outlook Russian analysts woke up to the fact that grain production reported from farms is higher than originally predicted. The reaction was quick and most of the main analytical agencies in Russia reforecast their numbers upwards. Particularly,...
Black Sea Regional Analysis
Russian Grain Markets: 29 July–2 August 2024 Russian Vice Premier Patroushev announced that Russia is 40 percent done with harvesting small grains. The harvesting pace is ahead of last year’s pace; however, production is only 64 MMT which is lower than last year’s crop. The gr...
Black Sea Regional Analysis
Russian Grain Markets: 22–26 July 2024 This season Russia will fail to produce a record crop despite an earlier harvesting campaign. The Ministry of Agriculture believes in their previous forecast of 132 MMT of which wheat is 86 MMT. Interestingly, the Ministry of Agriculture is the most...
Market Commentary: Bears Concentrate on Soybeans, Wheat Scores Reversal
The CBOT started the week with a collapse in soybeans and the broader soy complex in early trade that pulled corn and wheat lower as well. Soybeans, soyoil, and wheat all scored new contract lows in the early selloff with funds eagerly extending their short positions. By the day’s end, ho...