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Traders were primarily focused on the global corn balance data for the 2023/24 MY, where significant reductions in the corn crop forecast for Brazil and Argentina were expected. Such changes would also affect the balance for the new season. However, USDA experts remain optimistic about the harvest in South America.   In the global corn balance for the 2023/24 MY, the USDA did not change the global corn production forecast, keeping it at 1228.1 million tons. The forecasts for Brazil...

Wheat prices continued to decline following the release of the June USDA report, which presented more optimistic data than traders expected, despite a forecasted drop in global production for the 2024/25 MY by 7.44 million tons.   In the global wheat balance for the 2023/24 MY, based on data up to the end of the season, initial stocks were sharply revised upward (+0.6 million tons to 271.04 million tons), export estimates were increased by 3.3 million tons to 218.95 million tons, and...

The weighted average purchase price of grains and oilseeds in Ukraine on CPT terminals, EXW elevators, CPT processors, FCA, CPT dollar, FOB, DAF, CIF Purchase prices in Ukraine  CPT terminal, UAH EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ DAF, $ CIF, $ Wheat mill offals 3850 Peas 12250 Rye grade IV 5500 Sugar beet pulp gran 155 Corn 7969 7065 7500 6284 174 164 212 ↑ 3 Flax ...

The Egyptian General Authority for Supply Commodities (GASC) held its second tender in June for wheat procurement on June 11. This tender saw a sharp increase in wheat offerings and a decrease in offer prices due to the change in payment terms from 270 days in the previous tender to immediate payment upon delivery.   Notably, there was a sharp increase in the number of offers for Romanian, French, and Ukrainian wheat, as well as a decrease in the average offer price to $263.16/t FOB,...

According to the updated assessment by IA "APK-Inform," in May 2023/24 MY, Ukraine exported 714 thousand tons of sunflower oil (+14% compared to April), which became the highest monthly volume since January 2021. Overall, in the history of exporting this product from the country, this is the third-largest monthly shipment volume.   In total, from September to May 2023/24 MY, Ukraine exported a record 5.14 million tons of oil for this period, with a USDA forecast of 5.8...

According to monitoring by IA "APK-Inform," at the beginning of June, soybean oil offer prices in the Ukrainian market reached the highest level since late March 2023, and as of June 11, ranged between 35,100-37,800 UAH/t, excluding delivery costs.   Export offer prices for Ukrainian soybean oil reach 750-780 €/t compared to demand prices around 730-750 €/t on an ex-works basis.   The key factor driving the increase in wholesale prices for this...

The weighted average purchase price of grains and oilseeds in Ukraine on CPT terminals, EXW elevators, CPT processors, FCA, CPT dollar, FOB, DAF, CIF Purchase prices in Ukraine  CPT terminal, UAH EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ FOB, $ DAF, $ CIF, $ Wheat mill offals 3850 Peas 12250 Rye grade IV 5500 Sugar beet pulp gran 155 Corn 7969 7065 7500 6284 175 190 ...

Over the past week, palm and soybean oil prices have shown a slight decline due to data on increased production in Malaysia and the completion of soybean harvesting in Brazil and Argentina, which increased the supply of soybean oil.   According to estimates by The Farm Trade, a consulting and trading firm based in Kuala Lumpur, palm oil production in Malaysia in May sharply increased by 13.48%, leading to a rise in palm oil stocks in Malaysia to a three-month high despite relatively...