World markets for grains and oilseeds

Published Dec 11, 2024

Tridge summary

Soybean and wheat futures on the Chicago Mercantile Exchange rose following the U.S. Department of Agriculture's report, which showed stable to slightly higher ending stocks and increased export forecasts. The report also indicated a slight increase in global soybean carryovers and a decrease in EU wheat production, leading to a rise in wheat futures. Additionally, Thailand is launching an international tender for about 120,000 tonnes of feed wheat, and Japan is planning to purchase milling wheat from the United States, Canada, and Australia. The stable or mixed U.S. corn benchmark rates came after the USDA's report, which cut the domestic corn supply forecast more significantly than expected, leading to a increase in corn futures.

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

Original content

Soybean futures on the Chicago Mercantile Exchange rose Tuesday after a U.S. Department of Agriculture report showed ending stocks of soybeans were in line with trade expectations. The USDA put U.S. ending stocks for 2024-25 at 470 million bushels, unchanged from November and in line with trade expectations. The agency raised its forecast for U.S. soybean oil exports to 1.1 billion pounds from 600 million pounds after strong sales. January soybeans on the CBOT rose 4 3/4 cents to $9.94 3/4 a bushel. January soybean meal futures on the CBOT settled up $2.40 at $292.00 a short ton. January soybean oil futures on the CBOT fell 0.08 cent to settle at 42.72 cents a pound. U.S. soybean benchmark rates were stable to mixed on Tuesday following the release of the USDA’s monthly supply and demand report. The USDA opted to take its bets on this month’s U.S. soybean balance report unchanged across the board except for average cash prices, which fell 60 cents to $10.20. On the global front, ...

Source: Oilworld