The global arable market report on December 2, 2024

Published 2024년 12월 2일

Tridge summary

The article provides an overview of the global agricultural market, focusing on the impact of Black Sea competition on the market, improved planting conditions in Europe, and the potential effects of Trump's proposed tariffs on Mexican imports on the maize market. It also discusses the competitive pricing of Russian wheat and the expected increase in EU soybean imports, alongside concerns about palm oil production and the US soybean export net sales for 2024/25. Additionally, it highlights the forecast of soybean production in Brazil, the rise in rapeseed futures despite volatility, and the concerns over potential tariffs from the new US presidential administration on Canadian goods, including canola oil and meal.

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

Original content

Continued competition from Black Sea origins could weigh on the market in the short-term. Longer-term, favourable conditions in most of Europe aids winter wheat establishment but the Russian export quota lends support. Forecast rains in southern Brazil could improve planting conditions for areas which are reporting insufficient moisture. Russia’s wheat export quota could offer longer-term support to the wider cereals complex. Weakness in the wheat market is likely to spill pressure over to the barley market for short-term but follow the more neutral outlook longer-term. Global grain markets were pressured last week (Friday-Friday). The announcement of the Russian wheat export cap did lend some support to the market, however Russian wheat continues to price competitively. Planting conditions improved across most of Europe in November and while Trump’s proposed 25% tariff on imports from Mexico stirred maize markets, conditions regarding the maize crop in Brazil remain generally ...

Source: Ahdb