Global arable market report on September 16, 2024

Published Sep 16, 2024

Tridge summary

The article provides an overview of the global grain and oilseed market, highlighting factors that have impacted prices and production levels. It discusses concerns over EU production and cuts in Russia, which have supported short-term prices but may be balanced by higher production in Australia and Ukraine, as well as robust production in the US and sluggish global demand. The article also mentions the impact of geopolitical tensions in the Black Sea region and various crop estimates and reductions in Europe and Russia. Additionally, it touches on the effect of adverse weather conditions on crop yields and exports in key areas, including Ukraine, Russia, and Brazil. Furthermore, it discusses the influence of China's anti-dumping investigation on Canadian rapeseed and the effect of dryness in key soybean-growing areas on global supply and demand.

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

Original content

Concerns over production in the EU, coupled with production cuts in Russia and escalating tensions in the Black Sea region, could support prices in the short term. However, higher stock levels and improved production in Australia and Ukraine could help steady prices long term. Cuts to global maize production and stock levels could keep the market supported in the short term. Robust production in the US and sluggish global demand will also balance the market longer term. Reduced crop estimates in the EU and Canada are being counterbalanced by higher production estimates in Australia. Although barley will continue to follow trends of the broader cereals market. Global grain prices were generally up last week (Friday to Friday). Both Dec-24 Chicago wheat and Paris milling wheat futures increased by 4.89% and 2.86% to close at $218.51/t and €225/t respectively. While Chicago maize futures (Dec-24) rose by $2.76/t to settle at $162.7/t. Support for prices came mainly from adjustments ...

Source: Ahdb