Independent Agri Commodity Insights
USDA Grains and oilseeds were mixed globally ahead of the April USDA Wasde report. We will provide full analysis of the report in tomorrow’s highlights and further insight in our Global Grain Outlook released next week. Trade expectations were for declines in corn production for Brazil and Argentina following the USDA…
USDA Wasde Overview There will be more grains around in the US at the close of 2023/24 than the market had expected, despite the drought-hit start to the Midwest spring crop growing season, the USDA said in July’s Wasde report. The USDA was less generous on the global picture, particularly…
US weather has remained the overarching influence on grain markets this week, but this time providing pressure rather than support as rains erode concerns of drought damage to crops. Not that the threat of drought has gone away. Official weekly data on Thursday showed Midwest drought at its 12th most…
March has proven the bears right, although recent news and market moves have highlighted how fragile grains and oilseeds remain to the global economic outlook, weather and trade out of the Black Sea. In the case of wheat, while prices are lower for the sixth consecutive month, markets have reminded us…
Wheat has hit the lowest since 2021, also pressured by big Russian and Australian harvests. The market is likely “taking a policy of no news is good news,” said James Bolesworth, managing director at CRM AgriCommodities. “But that tees us up for some surprises potentially. I think it’s going to…