Agriculture, Energy and Metal Information
As winter concludes with remarkably mild and dry conditions, drought intensifies across the Midwestern United States, setting the stage for potential challenges ahead of the spring crop planting season. This pattern of heightened dryness marks the fourth consecutive year in the U.S. Corn Belt during this period, impacting planting dynamics and crop outcomes. The prevalence […]
Chinese wheat importers have canceled or postponed around one million metric tons of Australian wheat cargoes, reflecting the impact of a global surplus on prices. This decision follows a similar trend in the U.S., where over 500,000 metric tons of wheat exports to China were recently canceled. The market is experiencing downward pressure, with international […]
Chicago wheat futures remained relatively stable on Friday, poised for a third consecutive weekly decline due to pressure from Chinese buyers canceling shipments amidst ample global supplies. In contrast, corn prices saw a slight increase, while soybeans experienced a decline in trading. The prevailing market conditions, characterized by abundant supplies, have exerted downward pressure on […]
According to Russia’s IKAR agricultural consultancy, the projected grain crop for the 2024/25 season is anticipated to reach 147 million metric tons, with wheat production estimated at 93 million tons. This forecast represents an increase from the previous season, where the grain harvest was expected to be 144 million metric tons, including 91.6 million tons […]
Malaysian palm oil futures extended their upward trend for the fourth consecutive session on Thursday, marking their highest close in over a year. The rally was supported by the strength of rival edible oils and robust demand from key buyers, driving the benchmark palm oil contract to its highest closing level since March 3, 2023. […]
Rabobank has recommended that Australian farmers focus on wheat cultivation over canola in the upcoming 2024/25 season, anticipating significantly improved crop profitability compared to the previous year. The drop in fertiliser and chemical prices is expected to boost farmers’ earnings, with the cost savings outweighing a projected decline in average grain prices. Australia, a key […]
Major cocoa plants in Ivory Coast and Ghana, key cocoa-producing countries, have either halted or reduced processing operations due to financial constraints preventing them from purchasing cocoa beans. This development is poised to lead to a surge in chocolate prices worldwide, as chocolate-makers grapple with escalating costs amid a prolonged period of poor cocoa harvests […]
Chinese wheat importers have reportedly cancelled or delayed approximately one million metric tons of Australian wheat shipments, reflecting a broader trend of adjustments in response to a surplus in global wheat supplies. This development follows the recent cancellation of over 500,000 metric tons of U.S. wheat exports to China, amidst international wheat prices hovering near […]
The Ukrainian grain traders union UGA has projected a decline in Ukraine’s combined grain and oilseed harvest for 2024, estimating it to decrease to 76.1 million metric tons from 82.6 million tons in the previous year and significantly lower than the 107 million tons recorded before the Russian invasion. The anticipated harvest is expected to […]
Archer-Daniels-Midland (ADM), a global grains merchant, revealed a comprehensive plan to rectify accounting discrepancies that necessitated corrections in its financial results spanning six years. The company acknowledged the receipt of grand jury subpoenas from the Department of Justice regarding an ongoing investigation into its accounting practices, signaling a heightened scrutiny of the matter. ADM’s internal […]