The global arable market report on September 23, 2024

Published 2024년 9월 23일

Tridge summary

Recent articles discuss the state of global grain and oilseed markets, highlighting changes in production, prices, and trade. European wheat and maize production faces cuts, but high production estimates from Australia help mitigate price drops. Tensions in the Black Sea region have eased, allowing competitive exports to continue, despite concerns over grain exports from Ukraine. In the US, plentiful rainfall alleviates drought concerns, and soybean harvest is progressing well. China's anti-dumping investigation on Canadian rapeseed and strong demand from Brazil help support prices. However, the Economic intelligence unit lowers its global rapeseed harvest forecast for 2024/25, especially in the EU and Canada, due to high carryover stocks and disappointing canola yields in Canada. Overall, these factors contribute to the dynamic market trends observed in various grains and oilseeds.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Recent further cuts to the European wheat crop could lead to some support for prices both short and longer-term. However, the continuation of competitive supplies from the Black Sea limits any gains. With much of the US crop now maturing and harvest underway, adverse weather will have little impact and we could see some harvest pressure. Though poor conditions and cuts to European maize crop production will limit price losses. Cuts to European production continue to be counterbalanced by higher production estimates in Australia. Barley will continue to follow price movement in the wider grains complex also. Global grain markets were overall pressured last week. Dec-24 Chicago wheat futures were down 4.4% Friday-Friday, while Paris milling wheat futures (Nov-24) fell 4.0% over the same period. Pressure last week came largely from easing tensions in the Black Sea following a missile strike the week prior, with competitive exports continuing to flow from the region. Improved weather ...

Source: Ahdb