World markets for grains and oilseeds

Published 2024년 12월 10일

Tridge summary

Soybean futures on the Chicago Mercantile Exchange fell due to expectations of large South American stockpiles and favorable Brazilian weather for soybean growth, as reported by the U.S. Department of Agriculture and agribusiness consultancy AgRural. Additionally, corn futures received support due to expectations of reduced U.S. ending-season stocks, and wheat futures rose due to a technical rebound and debates about the size of the Russian wheat crop. The U.S. Department of Agriculture also reported that U.S. soybean and wheat export inspections were lower than expected. European wheat prices closed slightly lower due to weak import demand, strong competition from Russia, and a tough euro.

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

Original content

Soybean futures on the Chicago Mercantile Exchange fell Monday as analysts expected the U.S. Department of Agriculture to show large stockpiles in South America in its upcoming global supply and demand report and weather in Brazil was forecast to be favorable in the coming week. As of Thursday, Brazil’s 2024/25 soybean plantings had reached 95% of the expected total area, up 4 percentage points from the previous week and above the 91% recorded a year earlier, according to agribusiness consultancy AgRural. “The weather out there looks really good,” said Jim McCormick, founding partner of AgMarket. Heavy rains in Brazil are expected to continue to improve moisture levels for soybean growth next week, with southwest Mato Grosso do Sul, eastern Sao Paulo, Minas Gerais, and southeast and northwest Mato Grosso benefiting the most, according to Maxar. Analysts expect the U.S. Department of Agriculture’s monthly supply and demand report, due out Tuesday, to boost Brazil’s soybean crop ...

Source: Oilworld