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The soybean market has experienced an unusual situation this season when, amid a poor harvest in Argentina and increased demand in the United States, prices for U.S. soybeans exceeded prices for the normally premium Brazilian soybeans, allowing China to step up imports of cheap soybeans from Brazil.   A reduction in exports of old-crop soybeans from the U.S. is holding down new-crop prices, even though new-crop conditions in the U.S. aren't too favorable.   According...

August in India will be the driest in the last 100 years, and the amount of precipitation in the country will be very small, partly also due to the influence of the El Nino phenomenon, - reports Reuters with reference to sources in the country's weather department.   The amount of precipitation in August will be the lowest in the entire history of observations (since 1901), which will reduce the yield of rice, soybeans and other summer crops, and will lead to a rise in prices at...

In the August report, IGC experts increased the forecast of world wheat exports in 2023/24 MR from 196.9 to 197.2 million tons (206.6 million tons in 2022/23 MR), in particular for the EU - from 35, 7 to 36.2 (34.7) million tons, China - from 1.1 to 1.2 (1.1) million tons, the Russian Federation - from 45.2 to 46.6 (46.7) million tons.   At the same time, the forecast for the export of flour wheat was reduced due to the deterioration of quality in some countries - exporters of the...

On Friday morning, a fire broke out in one of the warehouses of the port of Novorossiysk, where fuel pellets were stored. There was no indication that the Ukrainian drone attack was the cause, but wheat prices reacted to the news with a speculative rise, especially amid forecasts of heatwaves in the US next week.   Over the past week, wheat prices fell, losing 3.5-6%, but on Friday, traders began to take profits, due to which quotes rose by 1.8-4%.   In the Midwest and the...

The decline in the main indicators of China's economy, export and import of goods, and demand for oil indicate that the world's second largest economy is approaching another crisis, which may trigger a global crisis and a drop in grain demand.   One of China's largest trust funds, Zhongrong International Trust, which is partly owned by a Beijing-based asset management conglomerate with stakes in many financial sector companies, has missed the payment schedule for almost...

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 3200 ↑ 175 Peas 8500 10000 7000 100 196 Buckwheat 14000 Corn 5500 5500 4873 ↑ 6 170 224 ↑ 4 rapeseed cake 800 ...

Blocking the export of agricultural products from Ukrainian Black Sea ports increases the pressure on purchase prices, and low demand and prices in the EU almost paralyze trade in Ukraine.   In the EU, the increase in the rape harvest against the background of last year's significant stocks is putting pressure on domestic prices. According to the European Commission, the import of rapeseed to the EU in the new season has slowed down significantly, and for the period from July 1...

This week's weather in major grain exporters has helped with crop development and harvest, but forecasts of hot and dry weather next week could lead to speculative gains in soybean and corn prices.   In the main soybean and corn growing regions of the Midwest and the Central and Southern Plains of the United States this week, the front brought showers that replenished moisture reserves. Already from the weekend, the heat will prevail there at 32-34 o C without precipitation,...