Agriculture

According to the Malaysian Palm Oil Board (MPOB), Malaysia’s palm oil stocks rose 0.5% from the previous month to 1.75 million metric tons in May, the highest level since February. The increase in end-May palm oil stocks, the world’s second-largest producer after Indonesia, could potentially weigh on benchmark palm oil futures, which were down about […]

According to agribusiness consultancy AgRural, Brazil’s second-corn harvest for the 2024 cycle had reached 10.4% of the planted area in the key center-south region as of last Thursday. This is the fastest pace of progress in more than a decade. The “safrinha” second-corn crop represents about 75% of Brazil’s national corn production each year. It […]

Russian wheat export prices ended a six-week consecutive rise last week, dropping along with global markets following Turkey’s decision to refuse wheat imports until mid-October. The price of 12.5% protein Russian wheat scheduled for free-on-board (FOB) delivery in late June was $242 per metric ton, down $6 from the previous week, according to the IKAR […]

According to analyst firm APK-Inform, Ukraine’s grain harvest in 2024 is forecast to decrease by 12% year-on-year to 52.76 million metric tons. This projection is in line with the Ukrainian agriculture ministry’s estimate of 52.4 million tons. The consultancy’s breakdown of the 2024 harvest includes: Wheat: 19.99 million tonsCorn: 26.77 million tonsBarley: 4.51 million tonsAPK-Inform […]

Turkey has announced that it will halt wheat imports from June 21 until at least October 15 in order to protect domestic farmers from price fluctuations, ensure the domestic procurement of raw materials, and create a favorable market for producers. The decision by the Turkish Ministry of Agriculture was made in accordance with foreign trade […]

China’s soybean imports in May fell 15% from the record levels seen a year ago, reaching 10.22 million metric tons, according to customs data. This was below the expected arrivals of 11-12 million tons. The decline in May imports can be attributed to disruptions to Brazil’s soybean harvest due to floods, which have impacted the […]

Chicago wheat futures fell for an eighth consecutive day on Friday, closing at their lowest level in a month. The most-active wheat contract on the Chicago Board of Trade (CBOT) settled at $6.27-1/2 per bushel, down 12 cents. The decline marks a 7.5% drop for the week, the biggest weekly loss since July 2023. The […]

Russia has declared a federal emergency in 10 regions due to damage to crops from May frosts, a measure that will provide extra funds to help farmers. However, officials have stated that this should not derail the country’s export obligations. The move comes as no surprise, as the Agriculture Minister had earlier indicated that she […]

Malaysian palm oil futures closed more than 1% higher on Thursday, tracking gains in the crude oil market, as traders await key export and production data from the world’s second-largest producer. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange closed 55 ringgit, or 1.4%, higher at 3,961 ringgit ($844.20) […]

Parts of the Rhine River in southern Germany have remained closed to cargo shipping on Thursday, following heavy rain in the region over the weekend that raised water levels. However, the river is currently falling, and authorities expect it to reopen to shipping on Friday. The German inland waterways navigation agency has reported that the […]