Tridge summary
The article provides an overview of the current state of the global grain and oilseed markets, focusing on the European Union (EU) and South America. It starts by noting the support global grain markets have received due to downward revisions in EU wheat crop estimates, which have led to an increase in global grain prices. The article also mentions the impact of highly competitive Black Sea exports and the importance of the pace of exports and global maize supplies for the longer-term outlook.
The article then discusses the production prospects for various crops in the EU and the US, including wheat, maize, barley, and rapeseed. It highlights concerns about lower protein contents and disease levels in wheat, as well as wetter weather affecting harvest progress in the UK. It also mentions the potential impact of pest and disease pressures on Argentina's maize area for the 2024/25 season.
Further topics covered include the strengthening of the vegetable oils complex, support from lower European rapeseed production, and concerns about dryness in key soyabean-growing regions in the US and Brazil. The article concludes by providing updates on futures prices and production estimates for soyabeans, rapeseed, and wheat in various countries, including the US, Brazil, Argentina, and the EU.
The article then discusses the production prospects for various crops in the EU and the US, including wheat, maize, barley, and rapeseed. It highlights concerns about lower protein contents and disease levels in wheat, as well as wetter weather affecting harvest progress in the UK. It also mentions the potential impact of pest and disease pressures on Argentina's maize area for the 2024/25 season.
Further topics covered include the strengthening of the vegetable oils complex, support from lower European rapeseed production, and concerns about dryness in key soyabean-growing regions in the US and Brazil. The article concludes by providing updates on futures prices and production estimates for soyabeans, rapeseed, and wheat in various countries, including the US, Brazil, Argentina, and the EU.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Downward revisions to the EU wheat crop are helping to offset pressure from highly competitive Black Sea exports. The pace of exports and global maize supplies are important for the longer-term outlook. Uncertainty over US and EU maize production is offering some support to markets, although large global crops are still expected in 2024/25. South American areas will be important to monitor going forward. While the EU barley crop this year is expected to be much larger than last year’s poor harvest, it is still smaller than initially expected. This could offer some relative support compared to other crops. Downward revisions to EU yield and crop estimates helped global grain prices to rise last week, despite Black Sea wheat remaining highly competitive into key markets. Stronger than expected US export sales, buying by speculative traders, plus a weaker US dollar also added support. US markets are closed today (2 September) for the Labor Day federal holiday. Earlier in the week, ...
Source: Ahdb
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