World: Arable grain market report on 01 July 2024

Published Jul 1, 2024

Tridge summary

The article provides an overview of the current state of global agricultural markets, with a focus on key crops such as maize, wheat, barley, and rapeseed, as well as soybeans in Argentina and China. It highlights expectations of smaller crops in key exporting countries, influence of demand, and crop conditions in the US maize belt and the Black Sea. The article also discusses the impact of various reports and data releases on market trends and prices, including a decrease in global wheat stocks, an increase in US wheat stocks, and changes in planting areas and sales in Argentina. Additionally, it notes differences in production forecasts between the USDA and Statistics Canada and revisions in the EU's 2024 rapeseed harvest estimate, attributing the variation to less favorable growing conditions in certain European countries.

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

Original content

Northern Hemisphere crops remain in focus as harvest progresses. Global demand is also a driver to watch out for, as expectations of smaller crops year-on-year in key exporting countries remain. Crop conditions in the US maize belt and the Black Sea are a key factor at the moment. A greater-than-expected US acreage contributes to the longer-term expectation of plentiful global supplies. An expected yearly climb in global barley supplies persists. Barley prices will likely continue to follow movement in the wider grains complex, though harvest results could also influence. Global wheat markets were overall pressured slightly last week (Friday to Friday). The Dec-24 Chicago wheat and Paris milling wheat contracts were down 0.5% and 0.9% respectively. Chicago maize was weighed on more by the USDA’s latest acreage report, with the Dec-24 contract down 7.2% on the week. Grain markets moved relatively sideways for most of the week, as traders awaited data releases at the end of the ...

Source: Ahdb