Grains, Seeds, Vegoils, Meals, Softs, Agri News

Jul 05 - Fismeal and Fishoil Comments and Prices: Péruvian “INDICATION” Price. 

- Fishing in the North/Central region is still low and there was no new season fishing in the South. The total catch is now up to 2.25 million m/t which leaves about 750,000 m/t on the North/Central quota. Estimated fishmeal production is now at 506,300 m/t for the season and 59,500 m/t of fish oil.

- One reason that the fishing was low this week was because all fishmen had holidays on Saturday through Monday --- for Fisherman’s Day. So, the landed numbers are lower and not comparative with a seven day week.

- Trade reports this week have been saying that the final catch for this season “might” go up to 2.5 million m/t --- fingers crossed.

- Prices are unchanged for fishmeal this week --- both in Peru for export and in China. However, trade reports suggest that prices will begin to move higher as it does not look like there will be much fishmeal available for sale.

- The latest published Peruvian export numbers for January/May 2025 show a total of 580,000 m/t of fishmeal exported with 89%, 457,000 m/t, going to China.

Jul 04 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· rape NE-GMO ISCC CPT Odessa, Ukraine, lip-serp
· corn FCA Chop, Ukraine, Nov-Sich

- Ukraine
· In Ukraine as of 03.07 collected: wheat - 277.8 thousand tons, barley - 501.2 thousand tons, peas - 83.8 thousand tons, rape - 71.6 thousand tons.
· Results of Ukrainian exports for 2024/25 MY (Jul. 2024 - Jun. 2025):
- Wheat - 15.62 million tons (-15% y/y). The largest importers: Spain - 3.2 million tons, Egypt - 2.1 million tons, Algeria - 1.9 million tons.
- Barley - 2.26 million tons (-9% y/y). The largest importers: China - 0.7 million tons, Libya - 0.32 million tons, Spain - 0.25 million tons.
- Rape - 3.14 million tons (-15% y-o-y). The largest importers: Germany - 1 million tons, Belgium - 0.9 million tons, Great Britain - 0.33 million tons.

- CORN
Liquidity in the corn market is low due to uncertainty in exchange rates and sales markets. Negotiations on European quotas and the military situation significantly complicate procurement activity. In ports, the price of corn of the new crop ranges from 198-200 $/t DAP. At the same time, on the western border, European buyers are actively signing contracts for a new crop, trying to hedge their risks against the background of the expected decrease in the potential of the crop.

- WHEAT
The wheat market is in a tense state. Demand from buyers is growing, but supply is limited - farmers are in no hurry with sales, there are practically no physical volumes on the market. Due to the lack of coverage, buyers show increased activity. The harvesting campaign is just gaining momentum. Prices in wheat ports of 11.5% were at $210-212/t DAP, forage - $202-204/t DAP.

- BARLEY
Barley continues to grow in price. Demand from exporters and processors is strong, while farmers are holding back sales in anticipation of higher prices.

- SUNFLOWER
The sunflower market is currently experiencing a period of low liquidity, which leads to a decrease in trade activity. Prices remain stable, but most processing enterprises are on technical prevention, preparing for the processing of rapeseed. The demand for processing products is still insignificant, but there is an increased interest in forward contracts.

- RAPESEED
European rapeseed prices continue to decline amid weak demand for rapeseed oil and meal. Over the last period, they fell by more than 30 €/t. The main reason is the fall in world oil prices, which weakened the biodiesel market, closely related to the rapeseed segment. Reduced processing profitability limits the sales of oil and meal, reducing the demand for raw materials. The premium to the stock exchange for the Ukrainian rapeseed has deepened from -2 to -12-16 €/t.

- SOYA
The internal soybean market remains unchanged - trading activity at a low level, both among processors and among traders. The stability of prices is due to the lack of significant changes in demand, which does not stimulate active purchases or sales.

Jul 04 - REUTERS TECHNICAL ANALYSIS Q3 OUTLOOK 2025 - WANG TAO

In the third quarter,  Brent and U.S. crude may fall to $71.33 and $55.30 respectively. Palm oil, corn, soybeans, wheat and coffee are set to test key supports, while gold may revisit $3,120. Aluminium and cocoa may face resistance, with copper targeting $10,219. The dollar index could drop to 95. To read the full report, click here

Jul 04 - Argentina completes soybean harvest as cold spell boosts development of wheat
Argentina has completed its 2024/25 soybean harvest with a final output of 50.3 million metrics tons, up 100,000 tons from the previous season, the Buenos Aires Grains Exchange said in its weekly crop report on Thursday. The harvest concluded a season marked by drought and a heat wave during the Southern Hemisphere summer, followed by autumn rains that helped yields recover, the exchange said.

Jul 04 - Ukraine to start wheat export in mid-July, farm union says
Ukraine will start exporting wheat from the 2025 harvest in mid-July and its export prices could rise by $20 to $30 per metric ton later this year, reflecting a global shortage of supply, a producers' union UAC said on Thursday. The Ukrainian farm ministry said last week that farmers from southern regions had already started the 2025 harvest, threshing the first 22,400 metric tons.

Jul 03 - SovEkon: Starting grain yield is lower than last year's

Harvesting of early cereals has begun in southern Russia, SovEkon reported in its weekly report. The initial yield in the largest agrarian regions of the south is lower than last year's values against the background of a moisture deficit.

In the Rostov region, the key wheat region of the country, the yield of early cereals is 2.0 t/ha compared to 3.6 t/ha a year ago, in the Krasnodar region - 4.5 t/ha compared to 6.2 t/ha. In Stavropol Krai, the yield is 4.0 t/ha, which is higher than last year's indicator of 3.5 t/ha.

The initial yield in Krasnodar and Rostov is noticeably lower than last year due to a moisture shortage. In Stavropol, by contrast, the moisture reserves are above normal.

Against the background of dry weather in 19 of 43 districts of the Rostov region was declared emergency mode. Similar measures were taken in 8 of the 34 districts of the Krasnodar Territory, mainly in the north of the region. The emergency regime is being introduced so that farmers can make insurance payments and compensate for losses.

Going forward, we expect some increase in yields as we shift to harvesting weaker fields.

SovEkon estimated the yield of wheat in the South at 31.5m tons, compared to 32.6m tons a year earlier. The decline in crop production in the southern regions due to adverse weather is already taken into account in the forecast.

SovEkon estimates Russia's wheat production in 2025 at 83.0 million tons, compared to 82.4 million tons a year earlier. This week, the Ministry of Agriculture confirmed its forecast of 135 million tons of cereals and 90 million tons of wheat.

Overall, the results are in line with our expectations, although they may lead some market participants to reconsider their expectations of a "very good Russian wheat crop."

Jul 03 - Bunge completes long-delayed mega-merger with grain handler Viterra
Global agribusiness Bunge Global said it officially closed a long-delayed deal to merge with Glencore-backed Viterra on Wednesday, two years after announcing the $34 billion mega-deal. The merger creates a global crop trading and processing giant that is poised to rival agribusiness giants Archer-Daniels-Midland and Cargill, at a time when slumping grain prices, weak crop-processing margins and geopolitical tensions have eroded profitability in the sector. 

Jul 03 - Southern Ukraine winter grain yields hit by poor weather, scientists say
Dry weather in southern Ukraine during sowing and plant growth stages has significantly reduced winter wheat and barley yields, scientists at the Ukrainian National Academy of Agrarian Sciences said on Wednesday. Ukraine is a traditional grower of winter wheat and barley, but its harvest depends on favourable weather during sowing in autumn, a mild winter and sufficient moisture in spring. 

Jul 03 - Tunisia tenders to buy about 25,000 T of feed corn, traders say
Tunisian state agency ONF has issued an international tender to purchase around 25,000 metric tons of animal feed corn, European traders said on Wednesday. The corn can be sourced from optional origins. The deadline for submission of price offers is Thursday, July 3, they said.

Jul 02 - Argentina's agricultural exports break record ahead of tax hike
Argentina's agricultural exports broke fresh records in June, data showed on Tuesday, as farmers in the key grains supplying nation ramped up shipments ahead of a tax hike that took effect on July 1. Argentina exported a record 64.5 million metric tons of grains and their derivatives in the first six months of this year, according to data from the Rosario grains exchange.

Jul 02 - StoneX raises forecasts for Brazil 2024/25 corn, soybean crops
Brazil's total corn output in the 2024-2025 season is expected to hit 136.1 million metric tons, consultancy StoneX said on Tuesday, raising its outlook from a previous forecast of 134 million tons. Within that estimate, StoneX also hiked its forecast for the second corn crop to 108.2 million metric tons, from 106.1 million tons in the last published forecast. 

Jul 02 - Ukraine's farm exports fall 23.8% to 3.4 million metric tons in June, lobby says
Ukraine's agricultural exports fell by 23.8% to 3.4 million metric tons in June, mostly due to smaller shipments of grains and vegetable oils, farm lobby UCAB said on Tuesday. UCAB said in a statement that grain exports fell by 26% in June versus May to 2.2 million tons, while shipments of vegetable oils dropped by 32% to 356,500 tons.

Jul 01 - US corn conditions rated highest since 2018, USDA reports
The U.S. Department of Agriculture rated 73% of the nation's corn crop in good-to-excellent condition, up from 70% a week ago and above the average estimate from a Reuters poll of 11 analysts. The rating is the best since 2018 at this point in the growing season, according to USDA data.expectations.

Jul 01 - Japan says it won't sacrifice farm sector for tariff deal after Trump rice complaints
Japan will not sacrifice the agricultural sector as part of its tariff talks with the United States, its top negotiator said on Tuesday, after President Donald Trump complained that the key Asian ally was not buying American rice. Trump's comment, made in a social media post on Monday, comes as Tokyo scrambles to convince the U.S. to scrap a 25% tariff on Japanese cars and a 24% reciprocal tariff on other Japanese imports.

Jun 30 - Immigration raids leave crops unharvested, California farms at risk

Lisa Tate is a sixth-generation farmer in Ventura County, California, an area that produces billions of dollars worth of fruit and vegetables each year, much of it hand-picked by immigrants in the U.S. illegally. Tate knows the farms around her well. And she says she can see with her own eyes how raids carried out by agents from U.S. Immigration and Customs Enforcement in the area’s fields earlier this month, part of President Donald Trump’s migration crackdown, have frightened off workers.
“In the fields, I would say 70% of the workers are gone,” she said in an interview. “If 70% of your workforce doesn’t show up, 70% of your crop doesn’t get picked and can go bad in one day. Most Americans don’t want to do this work. Most farmers here are barely breaking even. I fear this has created a tipping point where many will go bust.”

In the vast agricultural lands north of Los Angeles, stretching from Ventura County into the state’s central valley, two farmers, two field supervisors and four immigrant farmworkers told Reuters this month that the ICE raids have led a majority of workers to stop showing up.
That means crops are not being picked and fruit and vegetables are rotting at peak harvest time, they said.
One Mexican farm supervisor, who asked not to be named, was overseeing a field being prepared for planting strawberries last week. Usually he would have 300 workers, he said. On this day he had just 80. Another supervisor at a different farm said he usually has 80 workers in a field, but today just 17.

BAD FOR BUSINESS
Most economists and politicians acknowledge that many of America’s agricultural workers are in the country illegally, but say a sharp reduction in their numbers could have devastating impacts on the food supply chain and farm-belt economies.
Douglas Holtz-Eakin, a Republican and former director of the Congressional Budget Office, said an estimated 80% of farmworkers in the U.S. were foreign-born, with nearly half of them in the country illegally. Losing them will cause price hikes for consumers, he said.
“This is bad for supply chains, bad for the agricultural industry,” Holtz-Eakin said.
Over a third of U.S. vegetables and over three-quarters of the country’s fruits and nuts are grown in California, according to the California Department of Food and Agriculture. The state’s farms and ranches generated nearly $60 billion in agricultural sales in 2023.

If they show up to work, they don’t know if they will ever see their family again. (Migrant worker)
Of the four immigrant farmworkers Reuters spoke to, two are in the country illegally. These two spoke on the condition of anonymity, out of fear of being arrested by ICE.
One, aged 54, has worked in U.S. agricultural fields for 30 years and has a wife and children in the country. He said most of his colleagues have stopped showing up for work.
“If they show up to work, they don’t know if they will ever see their family again,” he said.
The other worker in the country illegally told Reuters, “Basically, we wake up in the morning scared. We worry about the sun, the heat, and now a much bigger problem – many not returning home. I try not to get into trouble on the street. Now, whoever gets arrested for any reason gets deported.”
To be sure, some farmworker community groups said many workers were still returning to the fields, despite the raids, out of economic necessity.
The days following a raid may see decreased attendance in the field, but the workers soon return because they have no other sources of income, five groups told Reuters.
Workers are also taking other steps to reduce their exposure to immigration agents, like carpooling with people with legal status to work or sending U.S. citizen children to the grocery store, the groups said.

ICE CHILL
Trump conceded in a post on his Truth Social account this month that ICE raids on farmworkers – and also hotel workers – were “taking very good, long-time workers away” from those sectors, “with those jobs being almost impossible to replace.”
Trump later told reporters, “Our farmers are being hurt badly. They have very good workers.” He added, “They’re not citizens, but they’ve turned out to be great.”
He pledged to issue an order to address the impact, but no policy change has yet been enacted.
Trump has always stood up for farmers, said White House spokeswoman Anna Kelly in response to a request for comment on the impact of the ICE raids to farms. “He will continue to strengthen our agricultural industry and boost exports while keeping his promise to enforce our immigration laws,” she said.
Bernard Yaros, Lead U.S. Economist at Oxford Economics, a nonpartisan global economics advisory firm, said in a report published on June 26 that native-born workers tend not to fill the void left by immigrant workers who have left.
“Unauthorized immigrants tend to work in different occupations than those who are native-born,” he said.
ICE operations in California’s farmland were scaring even those who are authorized, said Greg Tesch, who runs a farm in central California.
“Nobody feels safe when they hear the word ICE, even the documented people. We know that the neighborhood is full of a combination of those with and without documents,” Tesch said.
“If things are ripe, such as our neighbors have bell peppers here, (if) they don’t harvest within two or three days, the crop is sunburned or over mature,” said Tesch. “We need the labor.”

Jun 30 - Agriculture a 'red line' in trade talks with US, Indian finance minister tells Financial Express
India's agriculture and dairy are "big red lines" in its ongoing trade negotiations with the United States, Indian Finance Minister Nirmala Sitharaman told the Financial Express newspaper in an interview published on Monday. India and the U.S. are negotiating a trade deal ahead of President Donald Trump's July 9 deadline to impose reciprocal tariffs.

Jun 30 - India's monsoon covers country nine days early, accelerating planting
India's annual monsoon rains covered the entire country on Sunday, nine days earlier than is typical, the weather department said, bringing forward planting of summer-sown crops. The monsoon is the lifeblood of India's nearly $4 trillion economy, delivering almost 70% of the rainfall needed to water farms and replenishing aquifers and reservoirs.

Jun 28 - Weekly Fismeal and Fishoil Comments : Peruvian “INDICATION” Prices

Fishing remains low in the North/Central region with the total to date now up to 2.2 million m/t, which leaves just about 800,000 m/t on the quota. The new quota for the Southern region was announced at 251,000 m/t from July 01 to December 31, 2025. The closing South quota looks to be at 196,000 m/t out of the old quota of 251,000 m/t --- 46,600 m/t of fishmeal estimated to have been produced.

North/Central fishmeal production to date is estimated to be at 495,000 m/t with existing sales at a forecasted 520,000 m/t.

Fishmeal prices in both China and Europe have moved higher as prices from Preu and Chile have firmed in the past couple of weeks.

Trade reports still feel that the North/Central catch will reach only about 2.8 mm/t but there have been a few worries expressed that the total could be lower or that the fishing could be stopped if spawning starts early.

Also, this Sunday is Fishermen’s Day in Peru as informed by MSI Ceres who added that they are grateful to all the fishermen in Peru and their efforts. Being a fisherman is not an easy job --- tough difficult and dangerous.

Jun 27 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· sunflower oil CPT Odessa, Ukraine Jul @1'102$
Crop 2025
· corn DAP Odessa, Ukraine, letter @203$

- Ukraine
· Soybean-rapeseed changes are returned to the Parliament - they are planning to submit to the draft law №13157 to introduce 10% import duties on soybean and rapeseed exports.
· In Ukraine, as of 26.06, it collected: wheat - 22.4 thousand tons, barley - 151.6 thousand tons, peas - 14.2 thousand tons, rape - 4.6 thousand tons.
- World
· For the first time in 6 years, Chinese feed manufacturers purchased 30 thousand tons of Argentine soybean meal with delivery in September. If the cargo passes Chinese control, it can open the way to new supplies and reduce dependence on American meal.

- CORN
The corn market is in off-season condition - liquidity is low, and demand is limited only to single buyers. Given the production cuts and high export rates, transitional residues at the start of the new season are expected to be minimal or zero.
Corn of the new crop was traded in the range of 200-203 $/t DAP with delivery in October-November. Trading remains restrained as market participants are in no hurry with sales, waiting for higher prices.

- WHEAT
The wheat market remains in anticipation of the start of mass harvesting. The demand for a new crop is growing, but buyers refrain from sharply raising prices, hoping to increase supply with the arrival of the shaft. Farmers remain restrained in sales, which maintains the price level.

- BARLEY
In the ports there is an increased demand for barley, which supports price growth. The prize for China is 2-3 $/t.

- SUNFLOWER
In the new season, an increase in sunflower production is expected on average by 1.5-2 million tons, primarily due to the expansion of sowing areas. Against this background, refiners restrain the purchasing activity, waiting for more favorable conditions at the start of the season. Such a cautious position is due to the desire to avoid price risks and to form the best conditions for procurement after a weak margin in the current season.

- RAPESEED
Despite the fall of rapeseed futures on the MATIF exchange by more than € 25/t, the Ukrainian market does not demonstrate a response - the domestic market remains on the rise in prices. Demand from traders and processors remains high. The expected decline in rapeseed production in Ukraine only increases this trend, creating favorable conditions for domestic producers. The new season is expected to reduce rapeseed production by 800 thousand tons and reduce exports by 500 thousand tons.

- SOYA
The domestic soybean market remains sluggish - trading activity is low both from processors and exporters. The plants are discreetly suited to procurement, due to the weak demand in Europe for Ukrainian meal, which is inferior to cheap products from Latin America. This reduces the feasibility of processing and limits the demand for raw materials. The demand for soybean oil in Europe persists, but it is not enough to compensate for the weakness of the meal direction.

Jun 27 - Ukraine may revisit imposing oilseed export duties, farm lobby says
Ukraine's parliament is likely to resume a debate over imposing a 10% export duty on rapeseed and soybeans, a proposal it rejected earlier this month, the country's farm lobby UCAB said on Thursday, citing information from lawmakers. The duty had been proposed this month by pro-government lawmakers, who said exports of processed oilseeds could bring in more revenue than sales of raw seeds.

Jun 27 - China pens Argentine soymeal test deal with eye on US trade war disruption
Chinese firms have booked the first soymeal cargo from Argentina since Beijing approved Argentine imports in 2019, as China's animal feed industry looks to broaden its supply options to mitigate potential disruptions from the U.S.-China trade war. "This is just a test case," said one Singapore-based trader at an international trading company, which sells soybeans to China. 

Jun 27 - Argentina soy sales spike ahead of tax deadline; could stall in July
Argentina's soybean sales doubled in the first 18 days of June versus a year earlier to 4.71 million tons as farmers raced to close deals before a planned hike in export taxes on July 1, official data analyzed by Reuters and industry sources showed. The government of libertarian Javier Milei temporarily lowered taxes on soy at the start of the year, a cut which expires in July. That will see the tax on soybeans rise to 33% from 26%, with soy oil and soymeal both going to 31% from 24.5%.

Jun 26 - Australia cashes in on record sheep prices as meat exports surge
Australian sheep farmers are cashing in on record-high sheep prices, as rising global demand for lamb and mutton fuels a boom in exports from the world's top sheep meat supplier. Prices are likely to rise further in the coming years as production in New Zealand, Australia's biggest sheep meat export rival, stagnates, analysts said. "We've seen waves of higher and higher pricing as export demand and our market share has grown," said Matt Dalgleish, a livestock and meat analyst at consultants Episode 3.  

Jun 26 - Will analysts break their 10-year streak on US soybean acres? - Braun
The U.S. Department of Agriculture next Monday will publish one of its most important surveys of the year, which also happens to be among the more difficult to forecast. But amid all the noise the June acreage report can create, there has been one constant for ten years running: the trade overestimating soybean acres. New-crop Chicago soybean futures last Friday were less than 2 cents per bushel away from inking new yearly highs, though they have since tumbled 5%. 

Jun 25 - Crop prices tied to oil knocked by fragile truce in Middle East
A shaky ceasefire between Iran and Israel on Tuesday knocked down crop prices around the world, particularly crops that can be used for biofuels whose prices shift with the price of crude oil. Futures contracts for vegetable oils and vegoil stocks like Malaysian palm oil, European rapeseed, Canadian canola and Chicago soyoil fell sharply, hit as crude oil prices slumped due to the ceasefire announced by U.S. President Donald Trump. 

Jun 25 - Brazil farmers to reap record second corn crop
Brazilian farmers will produce a record 123.3 million metric tons of second corn, agribusiness consultancy Agroconsult said on Tuesday after surveying fields in key producing regions nationwide. Second corn, which Brazilian farmers are harvesting now, will account for about 80% of national output this year. It is mainly exported in the second half, competing with U.S. corn suppliers on global markets.

Jun 24 - Egypt's wheat imports down 30% since beginning of 2025
Egypt has imported 4.9 million metric tons of wheat, 4.2 million tons of corn and 2.2 million tons of soybeans so far this year, the agriculture ministry said on Monday. Last year, Egypt imported over 7.1 million tons of wheat, 4 million tons of corn, and 1.8 million tons of soybeans from the beginning of January through the end of June. That marks a 30% drop in wheat imports, a 4% decrease in corn imports, and a 22% rise in soybeans imports, according to trading data seen by Reuters.

Jun 24 - Exporters set prices for new harvest of Russian wheat (SovEkon)

In June, exporters set prices for a new wheat crop. The prices of demand for wheat of the new harvest are 14 500 rubles per ton ($184/t).

A year earlier, Russian wheat prices were 15,250 rubles per ton ($173/t). In 2024, prices for new crops fell from early to mid-July, dropping to 14,750 rubles per ton ($167/t). After that, prices rose until the end of the year, peaking in October at 17,900 rubles per ton ($186/t).

Export quotations for Russian wheat last week amounted to $226-230/t, analysts of SovEkon calculated. A year earlier, prices were at $234-236/t.

On the one hand, prices could come under pressure soon as new harvests arrive and FOB levels drop. A dire financial situation could lead to more sales from farmers, who need to replenish their working capital.

On the other hand, market support could come from mediocre crop prospects in the South, coupled with low stocks and potential tariff cuts. Moreover, current CPT prices already look underpriced relative to current FOB quotes.

Jun 24 - Southern Europe lifts EU wheat yield outlook, EU crop monitor says
Crop monitoring service MARS on Monday raised its outlook for this year's soft wheat yield in the European Union, citing high expectations in southern Europe, while noting that dry weather continued to threaten yields in the northern part of the bloc. The service projected the EU's soft wheat yield at 6.05 metric tons per hectare, against from 6.04 t/ha forecast last month. That was 9% above the yield in last year's rain-hit harvest and also 5% above the five-year average. 

Jun 24 - Brazil faces fertilizer cost spike as Middle East conflict escalates, experts say
Brazilian soybean and corn farmers will pay more to nourish their crops in the 2025/2026 season as the Iran-Israel conflict disrupts global suppliers and logistics, experts said. According to a StoneX report on Monday, urea production in big suppliers Iran and Egypt has come to a halt. The interruption in Egypt is linked to a reduction in gas supplies from Israel. In Iran, urea and ammonia plants are paralyzed due to the risks associated with the war.

Jun 23 - Egypt's state grain buyer expects French wheat loadings from Saturday
Egypt expects wheat shipments from France and other European countries in the coming days and weeks, the state grain buyer said, as it pushes ahead with efforts to bolster the country's strategic reserves and diversify supply sources. Among the world's largest wheat importers, Egypt is adapting to mounting geopolitical risks and volatility in Black Sea supplies, particularly from Ukraine and Russia.

Jun 23 - USDA develops potential plan to vaccinate poultry for bird flu
The U.S. Department of Agriculture is considering a potential plan to vaccinate poultry against bird flu for the first time that includes evaluating how it would affect exports, the agency told Reuters this week. The actions advance the government's assessment of a vaccine after the USDA received proposals on usage from associations representing egg and turkey producers whose farms have been devastated by the virus. Nearly 175 million chickens, turkeys and other birds have been culled in attempts to contain outbreaks since 2022 in the nation's worst animal-health emergency.

Jun 23 - Brazil's soy farmers raze Amazon despite deforestation pact with global traders
Brazilian soy farmers are pushing further into the Amazon rainforest to plant more of their crops, putting pressure on a landmark deal signed two decades ago aimed at slowing deforestation. Many are taking advantage of a loophole in the Amazon Soy Moratorium, a voluntary agreement signed by the world's top grain traders in 2006 that they would not buy soy grown on land deforested after 2008.

Jun 21 - Fishmeal and Fishoil Comments : Peruvian “indication” Prices (Hammersmith Blog)

Total catch in the North/Central region of Peru is now at 2.1 million m/t which leaves about 900,000 m/t to go to full quota. The trade seems to feel that the maximum catch will be at about 2.8 million m/t which would yield about 625,000 m/t of fishmeal. With 515,000 m/t or more of fishmeal sold there will not be a huge amount left for sale until the next season.

One trade report said that producers feel the catch will not exceed 2.5 mm/t due to the low catch --- this could make supply even tighter.

The drop in weekly fishing is pushing prices higher as both buyers and sellers have a better idea of how much will be available for sale. Prime and Super Prime prices didn’t move too much because there is nothing to sell but the lower quality grades have all moved quite a bit higher.

The trade reports say that we are now in a “bull” market for fishmeal which should push prices even higher.

Peru fishmeal exports to the end of May are at 541,000 m/t with 79.8% - 432,000 m/t – going to China.

Jun 20 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

- Europe
· The recent rains that took place during the critical period of crop development have improved the prospects of wheat in Germany. The 2025 harvest is expected at 21.5 million tons, which is 16.3% more than last year.
· Imports of soft wheat to the EU from 01.07 to 15.06 amounted to 7.2 million tons, which is 20% less than last year. Ukraine's import time decreased to 61.5% (71.4% a year ago). However, the share of Canada and the United States rose to 15% and 5.8% (9.1% and 1.8% a year ago).
· Imports of corn for the corresponding period is 19 million tons, which is 7% more than last year. Ukraine and Brazil declined to 56.6% and 8.5% (70.3% and 15.7% a year ago). In turn, the US share increased to 19.3% (0.7% a year ago).

- CORN
The situation in the corn market of the old crop remains sluggish - only individual players who select volumes for export contracts remained from buyers.
The demand for a new crop continues to grow, but farmers are refraining from forward sales. Current price levels do not meet their expectations, so there is almost no trading activity. The spread between the old and new crops remains significant - about $ 29/t, which only increases the reluctance of farmers to fix prices for a new crop.

- WHEAT
The growth of wheat futures on the Chicago Exchange was mainly technical in nature and was due to active coverage of short positions on the eve of the holidays in the United States. Some weather risks in the USA, China and Russia formed a speculative background, but the fundamental factors remained stable.
The demand for wheat for new crops in the domestic market is increasing, but supply remains limited due to the low-key position of farmers. This is gradually shifting price expectations towards growth. Wheat of 11.5% was traded at 207-209 $/t under DAP ports with delivery in July-August, feed wheat - 200-202 $/t DAP.

- SUNFLOWER
Despite the clear price momentum from foreign markets, where the quotes of vegetable oils have rapidly increased against the background of geopolitical instability, the Ukrainian sunflower market retains its price balance. The demand for sunflower of the old crop remains weak - some processors stopped for re-equipment and seasonal preventive work, others have already formed the necessary stocks.
As for the new crop, plants behave discreetly against the background of the expected increase in gross harvest, which may lead to lower prices at the start of the season.

- RAPESEED
In the European rapeseed market recorded price growth against the background of high demand from processors and continuing uncertainty about the crop. Concerns about the production increase price support.
In Ukraine, the price increase is recorded under the influence of active demand and limited supply before the harvest.

- SOYA
Low activity continues to be observed in the domestic market. Soybeans GMO old crop traded within 385-388 $/t on DAP ports. New crop - 365-370 $/t.

Jun 20 - Argentine corn yields exceed forecasts as harvest chugs along
Corn yields in some parts of Argentina are surpassing initial expectations for the 2024/25 crop, the Buenos Aires Grains Exchange said on Thursday, though it maintained its overall harvest forecast at 49 million metric tons as excessive moisture slowed fieldwork. Many agricultural regions in Argentina, the world's third-largest corn exporter, are still dealing with overly wet fields following heavy storms that caused flooding in May, delaying harvesting.

Jun 20 - 'Amber waves of grain' recede in America's heartland as wheat farmers struggle
Farmers cut their losses early this year across the U.S. wheat belt, stretching from Texas to Montana. They were choosing to bale the wheat into hay, plow their fields under or turn them over to animals to graze. In Nebraska, wheat acreage is less than half of what it was in 2005.

Jun 20 - China's May soybean imports from Brazil jump 37.5% y/y
China's soybean imports from Brazil surged 37.5% in May from a year earlier, data showed on Friday, as buyers scooped up South America's bumper crop, while supplies from the United States also rose 28.3%. The world's biggest soybean buyer imported 12.11 million metric tons of the oilseed from Brazil last month, compared with 8.81 million tons in the same month a year earlier, data from the General Administration of Customs showed.

Jun 20 - Indian rapeseed meal exports soar as China replaces Canadian supply
China is set to make record purchases of rapeseed meal from India following Beijing's move to impose a 100% retaliatory tariff on Canadian imports, senior industry officials said. India's rapeseed meal exports will help China, the world's top consumer, replace imports from Canada while easing pressure on local rapeseed prices in India where there are large stockpiles of the widely used animal feed.

Jun 19 - Indian refiners cancel palm oil orders for July-Sept as prices surge
Indian refiners cancelled orders for 65,000 metric tons of crude palm oil scheduled for delivery from July to September following a sudden surge in benchmark Malaysian prices, four trade sources told Reuters. Refiners in the world's largest palm oil importer cancelled the orders in the past three days after Malaysian palm oil futures rose more than 6%, hedging their risk against the prospect of falling prices by locking in a profit.

Jun 19 - Geography helps shield Brazil from US-style bird flu epidemic, for now
Brazil's vast and diverse geography, with the Amazon to the north, mountain ranges along the Atlantic coast and the Andes to its west, may have helped it avoid the U.S. fate of widespread bird flu among commercial poultry flocks by keeping migratory birds away from farms in the country's interior. Wednesday marks more than a month without a new bird flu case on a commercial poultry farm in Brazil, ending an observation period after its first such outbreak.

Jun 19 - Franceagrimer raises wheat export outlook amid robust demand
Farm office FranceAgriMer raised its forecast for 2024/25 French soft wheat exports on Wednesday, citing brisk late-season demand, but the EU's biggest grain producer still faces its worst wheat export campaign this century after a rain-hit crop. In supply and demand data, FranceAgriMer projected French soft wheat exports outside the EU this season at 3.25 million metric tons, up from 3.20 million tons projected last month. The latest estimate is 68% below last season's level.

Jun 18 - EU 2024/25 soft wheat exports down 34% by June 15
European Union soft wheat exports since the start of the 2024/25 season in July had reached 19.76 million metric tons by June 15, compared to 19.49 million the previous week, and down 34% on a year earlier, European Commission data showed. A breakdown of this season's volumes showed Romania was still the largest EU soft wheat exporter with 5.38 million tons exported so far, followed by Germany with 2.60 million tons, Lithuania with 2.58 million tons, Latvia with 2.20 million tons and Bulgaria with 2.16 million tons. 

Jun 18 - China's big feed shift to curb soybean imports, strain small farmers
China's move to curb the use of soymeal in animal feed to reduce its dependence on imports is feasible but will be costly and technically challenging for the smaller farmers who account for one-third of Chinese pork production, industry experts say. In April, China announced a plan to lower the soymeal content in animal rations to 10% by 2030, down from 13% in 2023, as the ongoing trade war with the U.S. adds to Beijing's urgency to bolster food security. 

Jun 17 - NOPA May US soy crush at 192.829 million bushels, below most trade estimates
The U.S. soybean crush in May was lighter than most trade estimates but still reached the highest-ever total for the fifth month of the year, according to National Oilseed Processors Association (NOPA) data released on Monday. NOPA members, which account for at least 95% of soybeans crushed in the United States, processed 192.829 million bushels of the oilseed last month, up 1.4% from the April crush of 190.226 million bushels and up 5.0% from the May 2024 crush of 183.625 million bushels.

Jun 17 - Russia's May seaborne grain exports fell 62.9% y/y to 2.1 million tons
Russia's seaborne grain exports fell to 2.1 million metric tons in May, a fall of 62.9% compared to the same month of 2024, according to shipping data from industry sources released on Monday. Russia, the world's leading wheat exporter, shipped grain to global markets at a record pace during the first part of the 2024/25 marketing season, which began on July 1 last year. However, the introduction of export quotas in February resulted in a sharp decline in exports.

Jun 16 -Russian seaborne grain exports plunge in May (Reuters)
Russia's seaborne grain exports fell to 2.1 million tonnes in May, a fall of 62.9 per cent compared to the same month of 2024, according to shipping data from industry sources released on Monday.

Russia, the world's leading wheat exporter, shipped grain to global markets at a record pace during the first part of the 2024/25 marketing season, which began on July 1 last year. However, the introduction of export quotas in February resulted in a sharp decline in exports.

Total seaborne exports have reached 44.6 million tons so far this season, down 27.7 per cent year-on-year, according to the data.

Exports via Black Sea terminals decreased by 63 per cent year-on-year to 1.9 million tons in May. Exports through the Caspian Sea, a route primarily serving Iran, were completely stopped in April and did not resume in May.

Grain exports from Baltic Sea terminals, which supply Russian grain to new markets including in Africa and Latin America, decreased by 43.7 per cent in May to 0.09 million tonnes, according to the data.

Seaborne exports accounted for about 90 per cent of Russia's total grain exports last season. Last year, Russia exported about 62 million tons of grain through its sea terminals, according to analysts' estimates.

Jun 16 - China allows import of eligible pork, poultry products from 106 US plants
China has approved 106 new U.S. pork and poultry plants to export eligible products produced on or after June 12, Chinese Customs said in a notice on its website. The approval was issued on Thursday, the notice showed. It comes after China and U.S. agreed on a framework to get their trade truce reached in Geneva talks last month back on track.

Jun 14 - Weekly USA Grain and Protein Report ( Hammersmith Blog )
- At the end of the week corn futures prices in the USA were down by just over USD 2 m/t while US soybeans were up by USD 6 m/t and soymeal was lower by USD 5 m/t. US winter wheat increased by USD 4 m/t while US spring wheat was unchanged for the week.
- Soybeans price strength this week seemed to be mainly due to US government changes to the biofuel blend mandate which should certainly see an increase domestic demand for soybeans and soyoil. Along with that there is a change in possible imports of tallow and used cooking oil which should also push up domestic US demand.
- While corn stocks were lower in the WASDE report and corn prices started to slip lower , expected higher ethanol production and strong exports both helped to strengthen the corn market so that the end of week drop was minimal. Corn weather is still very good and USA corn production is going to be big. Longer term we could see corn prices sliding lower. 
- Between the changes in the biofuel blend and the Israel/Iran situation there was no reason to stop the rally in soybeans/soyoil. Soymeal is lower as the increased demand for soyoil will push the crush numbers higher and create quite a pile of soymeal that will have to be sold….probably at lower price.
- The WASDE report was bearish for wheat but lower prices attracted lots of buying interest and Friday was a strong day for all wheat….. perhaps not enough for a full week higher but certainly it looks like the bulls may be getting back into to US wheat market.

Jun 14 - Fishmeal and Fishoil Comments : PERUVIAN “INDICATION” PRICES ( Hammersmith Blog )

- Total catch in the North/Central region of Peru is now up to 2.05 million m/t leaving about 950,000 m/t on the quota. Estimated fishmeal production is at 464,000 m/t and fishoil at 54,300 m/t. Juvenile levels are still just above 31% for the overall average and there are still 300+ vessels fishing.
- Overall fishing has slacked off somewhat which has caused buyers to raise their bids a little but producers are said to be holding back on much new business until there is a better feel for how fishing will continue.  
- Fishmeal sales are reported to have just passed 510,000 m/t or perhaps a little higher --- therefore, sales are still in excess of production. Sales to date represent about 70% of the estimated production if the full quota is landed ….. perhaps it is time to be a bit conservative on selling.
- Prices for the best grades of fishmeal from Peru continue to move higher due to very limited supply while lower grades are mostly steady in price. It is reported in the trade that prices in China are also moving higher.

Jun 13 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· sunflower oil DAP Odessa, Ukraine, Jul @1'085$

- Ukraine
· COCERAL updated its expectations for the harvest in Ukraine in 2025: wheat - 22.7 million tons (22 million tons in 2024), corn - 29.3 million tons (25.9 million tons), barley - 4.8 million tons (5.4 million tons), soybeans - 5.5 million tons (5.75 million tons), sunflower - 14.8 million tons (12.5 million tons), rape - 3.3 million tons (3.7 million tons).
· As of 12.06 in Ukraine were sown: spring wheat - 221.2 thousand hectares, spring barley - 753.2 thousand hectares, corn - 4030.5 thousand hectares, sunflower - 5016.9 thousand hectares, soybeans - 2387.3 thousand hectares.
- USA
· Heavy rains in the United States delay winter wheat harvesting and may adversely affect grain quality. As of June 8, only 4% of the crop has been threshed (11% in the last year, 7% in the average for 5 years).
- Europe
· COCERAL updated its forecasts for the EU-27 harvest in 2025: soft wheat - 129.5 million tons (in 2024 - 114.2 million tons), maize - 60.5 million tons (59.7 million tons), barley - 52.4 million tons (50 million tons), soybeans - 3 million tons (3.2 million tons), sunflower - 10.1 million tons (8.5 million tons), rape - 19.2 million tons (17 million tons).

- CORN
The liquidity in the corn market remains low - the bulk of the buyers completed the purchase of grain this season and refocused on the early crops of the new crop. Despite active offers from farmers, demand is limited, and prices in ports have fallen to $ 223-225/t DAP.
New crop corn is traded at 196-198 $/t DAP with delivery in October-November. Farmers are in no hurry to contract, as the current price levels do not meet their expectations.

- WHEAT
Despite the improvement of crop forecasts in the EU and Russia, the wheat market is consolidated at minimum levels, while delays in collection in the US due to excessive precipitation create a certain tension.
In Ukraine, the old crop wheat has almost lost its relevance, and the residual demand is limited mainly by processors. Trading in the new crop remains restrained: although interest from buyers is present, manufacturers are not in a hurry to conclude contracts, waiting for the start of harvest and a clearer market situation.

- SUNFLOWER
The price pressure is maintained on the sunflower market. The proposal is growing due to active sales by farmers and sufficient balances, while the purchasing activity of processors remains low - most of the needs are already covered, with some operators focusing on preparing for the rape season. Sunflower oil was traded in ports at 1085-1095 $/t CPT Southern on June and 1080-1085 $/t on July.

- RAPESEED
The situation in the world market of rapeseed is tense. Spring drought and moisture shortages in major EU countries, particularly France, Germany and Poland, have already led to a decline in the expected harvest. In Canada, the canola is also affected by heat and dry conditions, which only increases the risks to global balance.

- SOYA
Prices for soybeans of the old GMO crop remain stable. For the new yield of non-GMO soy there is a slight decrease. Demand from buyers is limited, which causes weak activity in the market.

Jun 13 - Argentina exchange raises 2024/25 soy forecast by 300,000 tons
Argentina's 2024/25 soybean harvest is expected to reach 50.3 million tons, 300,000 tons more than previously forecast, thanks to higher-than-expected yields, the Buenos Aires Grain Exchange said on Thursday. Argentina is the world's largest exporter of soybean oil and meal. 

Jun 13 - ADM sets off 'frenzy' in US soybean market ahead of new biofuel blend rule
Archer-Daniels-Midland, a major U.S. soybean crusher and biofuel producer, slashed its bids to buy the oilseed this week ahead of an expected Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil. Processors such as Chicago-based ADM have been waiting for the U.S. Environmental Protection Agency's decision on blending requirements for months as they grapple with slumping crush margins and abundant soybean stocks

Jun 13 - USDA projects tighter US corn inventories as exports rise
The U.S. Department of Agriculture on Thursday cut its forecast for how much corn will be left in storage bins before this year's harvest as it raised its estimate for exports. U.S. exports have been strong this year because prices were competitive on the world market. Corn futures this week fell to a 2025 low as weather looks favorable for the recently planted U.S. crop, fueling expectations for a large harvest.

Jun 13 - Brazil crop agency ups 2024/25 soy supply, export forecast
Brazil's soybean production forecast for the 2024/25 season, which is almost over nationwide, has been raised to 169.60 million metric tons from 168.34 million tons, national crop agency Conab said in a report on Thursday. The country's soybean production is expected to rise some 15% from the previous season, reflecting good weather and excellent yields in key producing regions like Mato Grosso state, where supplies will hit a record of 50.58 million tons this season.

Jun 12 - French cognac makers offer China minimum import prices to fend off tariffs

    China has imposed provisional tariffs of up to 39% on cognac imports
    Duties applied amid wider trade dispute with the EU
    China's anti-dumping probe deadline is set for July 5

- Negotiators representing French cognac producers suggested minimum prices for exports to China of between $20 and around $300 per litre as an opening bid in talks aimed at ending a tariff stand-off with China, a document seen by Reuters shows.
The minimum prices are part of efforts to avoid permanent tariffs of up to 39% amid tense negotiations with China's commerce ministry, which has opened an anti-dumping investigation focused on the sector. They were sent to producers several weeks ago for their approval by a Paris-based law firm negotiating on the spirit makers' behalf, a source familiar with the matter said. A spokesperson for the law firm, GIDE, declined to comment.

- The industry, grappling with falling sales and simultaneous tariff threats from the United States, its other key market, has been fighting to secure a deal with China since Beijing first threatened to levy the duties in January 2024. The move came amid a wider trade dispute with the European Union after it imposed tariffs on imports of Chinese electric vehicles.
A flurry of political meetings in Paris and technical discussions in Beijing last week raised hopes that a settlement of the trade spat was imminent. But the talks ended with no deal, leaving just weeks to go before a July 5 deadline for Beijing to wrap up its anti-dumping probe.

- Chinese authorities subsequently announced that the industry had made a voluntary "price pledge" and it was reviewing its terms.
Separately, the head of France's wine and spirit exports lobby group FEVS told newspaper Le Figaro an agreement "in principle" to lift the trade restrictions in return for minimum prices has been reached with Chinese authorities. He gave no further details.
"The recent phone calls between President Macron and (Chinese President) Xi Jingping have helped here," FEVS President Gabriel Picard was quoted as saying in an article published on Thursday.
- The price list seen by Reuters included a "minimum import price" for different bands of cognac defined by how long the spirit has been aged, ranging from two years for the cheapest "Very Special" (VS) cognacs to the most expensive "Extra Extra Old" (XXO), aged 14 years or more. Under the offer, VS cognac would have a minimum import price of 144.70 yuan ($20.16) per litre, while "Very Superior Old Pale" (VSOP), aged for at least four years, would be priced at 177.92 yuan. High-end "Extra Old" (XO) would cost 526.52 yuan to import, with the XXO category, where prices reach thousands of dollars per bottle and more, costing at least 2,126.07 yuan ($296.16) per litre.

- France's BNIC industry body declined to comment on the prices, citing confidential negotiations. "We keep waiting and hoping for a good outcome," a BNIC spokesperson said.
The prices in the document refer to the price paid for cognac by importers in China, with distributors, wholesalers, retailers and consumers paying more to buy it.

Jun 12 - India's granaries overflow as rice stocks hit record, wheat surges
India's rice stocks in government warehouses rose 18% from a year ago to a record high for the start of June, while wheat stocks have hit their highest level in four years on higher procurement from farmers, official data showed on Wednesday. Record rice stocks will help the world's biggest exporter increase shipments, while an improvement in wheat inventories will help the federal government tame any price spikes later this year by increasing open market sales.

Jun 12 - Ukraine southern regions barley harvest shows low yield, analyst says
Farmers in the southern Ukrainian Mykolaiv region have started harvesting barley and yields are at a very low level, analyst ASAP Agri said on Wednesday. "As part of our ongoing wheat crop tour this week, ASAP Agri has recorded the first barley harvests beginning in the Mykolaiv region, notably in areas most affected by spring frost and drought," the consultancy said on the Telegram messenger app.

Jun 12 - South Korea’s MFG buys up to 65,000 metric tons feed wheat, traders say
South Korea's Major Feedmill Group (MFG) purchased around 55,000 to 65,000 metric tons of animal feed wheat to be sourced from optional origins in a private deal on Wednesday without issuing an international tender, European traders said. One consignment was purchased at an estimated $254.99 a ton cost and freight including a surcharge for additional port unloading. 

Jun 11 - Ukraine targets Middle East for grains exports as EU quotas set in
Ukrainian traders are looking to increase grains exports to the Middle East as their tariff-free access to the European Union's market has expired, according to the chief executive of a business that supplies grains to Jordan. The EU waived duties and quotas on Ukrainian agricultural goods following Russia's invasion of Ukraine three years ago, but restored a pre-war regime of trade quotas last Friday, pending the conclusion of a new trade deal with Kyiv. 

Jun 11 - Russia's 2025 grain harvest seen exceeding last year's, Deputy PM says
Russia's grain harvest is seen at 135 million metric tons in 2025, above the last year's level of 130 million tons, Interfax news agency quoted Deputy Prime Minister Dmitry Patrushev as saying on Tuesday. Russia, the world's largest wheat exporter, saw the grain harvest fall last year due to bad weather ranging from spring frosts to drought.

Jun 10 - US wheat gets a glow-up: Multiyear highs for crop health, export sales: Braun
Second-worst ever. That’s how health conditions for the 2025 U.S. winter wheat crop were described last autumn. But winter wheat ratings now sit at a six-year high for early June, just as the harvest is kicking off. This is exactly what U.S. exporters need to continue – and potentially expand – their impressive sales into next year. As of Sunday, the U.S. Department of Agriculture rated 54% of the U.S. winter wheat crop in good or excellent condition, above trade expectations and up from 50% two weeks earlier.
 
Jun 10 - Tariffs on canola seen supercharging Canadian farmers' shift to spring wheat
In the U.S. Great Plains, where spring wheat once dominated fields, farmers are turning away from the crop. But across the border in Canada, the pinch and prospect of Chinese and U.S. tariffs on canola have prompted farmers to pick up the slack on wheat. Farmers are still putting their crops in the ground, so it is not yet possible to know the extent of the acreage shift into wheat. 

Jun 10 - Russian new crop wheat exports still unchanged, June export estimates fall
Prices for new crop Russian wheat were unchanged last week, with analysts lowering their estimates for June exports amid low market activity. The price for new crop Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in the second half of July was $225 per metric ton, same as a week ago, said Dmitry Rylko, head of the IKAR consultancy. 
 
Jun 10 - South Korea’s NOFI tenders to buy up to 138,000 metric tons of corn
Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 138,000 metric tons of animal feed corn, European traders said. The deadline for submission of price offers in the tender is also Tuesday, June 10. Arrival of the corn in South Korea is sought in two consignments of 45,000 to 69,000 tons.

Jun 09 - China May soybean imports hit record high of 13.92 million metric tons
China soybean imports hit a record high of 13.92 million metric tons in May, customs data showed, more than double the volume imported in April, as customs clearance speeds returned to normal and the operating rate of crushing plants recovered. Imports had plunged to a 10-year low of 6.08 million metric tons in April, as prolonged customs delays and late shipments from Brazil - caused by harvest slowdowns and logistical issues - disrupted the usual cargo flow.

Jun 09 - China wants slimmer pigs
Chinese farmers and small firms have increasingly bought market-ready pigs from larger breeders and fattened them in a bet on higher prices, but the government is cracking down on the speculative practice to slim down hogs and stabilise the market. For small breeders, "refattening" or buying adult hogs from big producers and feeding them for an extra few months until they put on an extra 40-50kg is a way to gamble on pork prices rising.

Jun 09 - Grains powerhouse Argentina could lose market share due to Vietnam-US trade deal, Rosario exchange warns
Progressing trade negotiations between the U.S. and Vietnam could significantly diminish Argentina's substantial share of Vietnam's corn and soymeal import market, the Rosario grains exchange said in a report on Friday. Argentina is currently Vietnam's leading grains supplier, accounting for more than 50% of its corn and 65% of its soymeal imports by value over the past five years, the exchange said.

Jun 07 - Fishmeal & Fishoil Comments and Prices : PERUVIAN “INDICATION” ( Hammersmith Blog )

- North/Central fishing in Peru reached a total of 1.93 million m/t leaving 1.07 mm/t on the quota.

- Some trade reports are speculating that the full quota will not be reached as landings are now down to about 40,000 m/t per week due to fishing bans and bad weather. However, trade reports also say that fishing is expected to improve for the next few weeks with a possible catch at 2,8 mm/t at the end of June.

- Super Prime fishmeal is said to be impossible to buy in Peru with Prime almost as difficult to find ---- lower grades of fishmeal are all that are available for now. One trade report said that it is the high level of juvenile anchovies that is keeping the protein levels lower. Juveniles are still about 31 to 33% of the catch.
 
- Demand is steady for export fishmeal with the sales seeming to be keeping ahead of production. Fishmeal production in the North/Central region is at about 436,000 m/t but sales are said to be just over 500,000 m/t. As usual, it looks like every ton of fishmeal produced will be a ton of fishmeal sold. It has been a long time since there has been any surplus of fishmeal in Peru.

- I had a call this week from a company that is building a facility to produce high protein meal from methane gas but, like all protein alternatives, this will be very high priced, low volume production that will have to find a niche in the protein market. The planned production is only 50,000 m/t per year, which certainly won’t scare the fishmeal industry. 

- There seems to be new attempts to find a fishmeal alternative every year and every year the fishmeal industry just keeps happily chugging along --- selling every ton and wishing that there were more.

Jun 07 - Weekly USA Grain and Protein Report ( Hammersmith Blog )

- Another busy week in the grain/oilseed/protein business with not quite as much tariff related market excitement. USA corn prices were up by about USD 5 m/t for the week with soybeans also up by USD 4 or 5 m/t. Soymeal was almost unchanged for the week. USA winter wheat prices were higher by USD 6 or 7 m/t with spring wheat only up by about USD 4 m/t.

- Corn prices moved higher on 2025 crop quality concerns as the planting was delayed in some parts of the US due to heavy rainfall. Some are saying that corn plantings may not reach the USDA forecast as a result of the delays. Of course, reports also add that 93% of the corn has been planted but this is still below the five-year average planting level.

- Soybeans were said to be higher based on the planned USA/China tariff talks next week. The market seems to be expecting an agreement that will see US soybeans back into the market in China. The soybean crop is 84% planted, which is 4% above the five year average.

- Wheat prices were higher mainly due to the increased attacks on the Ukraine and the threats of more to come from Russia with possible increased attacks on Ukraine grain export facilities. Also, heavy rainfall in parts of the wheat belt look to possible delays of winter wheat harvesting. Winter wheat condition is at 52% good to excellent, which sounds low, but is actually higher than average --- the average is at about 49%. The drought in parts of the wheat belt seems to be over.

Jun 06 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· sunflower oil DAP Odessa, Ukraine, Jun @1'100$
Crop 2025
· rape NE-GMO ISCC DAP Germany, serp @....

- Ukraine
· In 2025, grain harvests in Ukraine may fall by 10% - up to 51 million tons against 56.7 million tons last year due to unfavorable weather and military risks.
· Exports from Ukraine of cereals, oilseeds and their products in May amounted to: corn - 2 021 thousand tons, wheat - 959.7 thousand tons, barley - 37.6 thousand tons, soybeans 253.2 - thousand tons, rape - 33.8 thousand tons, sunflower - 0.36 thousand tons, sunflower oil - 466.5 thousand tons, soybean oil - 45 thousand tons, cake (soybean and sunflower) - 45 thousand tons.
· As of 05.06 in Ukraine were sown: spring wheat - 219.4 thousand hectares, spring barley - 748.7 thousand hectares, corn - 3994.9 thousand hectares, sunflower - 4932.2 thousand hectares, soybeans - 2329.2 thousand hectares.
- USA
·Harvesting of winter wheat has started in the USA - 3% of the crop has been threshed as of June 1.

- CORN
European buyers are waiting for cheap Brazilian second harvest corn, the supply of which is expected closer to the end of June - beginning of July. Therefore, interest in the procurement of Ukrainian corn of the old harvest is limited, given its still relatively high price.
In the domestic market, corn is getting cheaper on both the old and the new harvest. Interest on the part of buyers fades, trading volumes are reduced.

- WHEAT
The new crop strengthens market dominance by ousting the old wheat from the trade focus. Interest in last year's grain is rapidly fading - the demand is minimal, and prices are noticeably subsiding. Buyers are increasingly targeting new wheat as the start of the harvesting campaign approaches. Against this background, the value of wheat of the new crop also decreases - the market feels the pressure of the expected offer.

- SUNFLOWER
Sunflower prices continue to decline, forming a weak market for sellers. Against the background of low activity and uncertainty with the future demand from processors, farmers, on the contrary, demonstrate high readiness for sales. This leads to an increase in supply, and under the conditions of limited procurement interest - only increases the pressure on the price.

- RAPESEED
The market remains volatile against the background of the expected supply, high demand and passivity of farmers. Rape of the new crop was traded at 505-515 $/t on the basis of DAP ports.

- SOYA
Demand in the domestic soybean market remains limited, which contributed to a moderate reduction in prices. In the ports of Odessa, the cost of soybeans with GMOs is 384-386 $/t DAP.

Jun 06 - Argentina soy yields above forecasts as wet soil slows harvest, exchange says
Argentina's soybean yields continue to track higher than expected this season, the Rosario grains exchange said on Thursday, signaling that the process of harvesting the key agricultural export is however progressing slower than usual. "Despite delays in the harvest, we continue to see higher yields than those initially expected, especially in the southern agricultural region and western Buenos Aires province," the Buenos Aires exchange said in a weekly report. 

Jun 05 - Drought bakes China's wheat belt, slashing harvests for some
About an hour by road northwest of the famed Terracotta Warriors, combine harvesters send out clouds of dust as they work their way through the parched wheat fields of Maqiao village in China's northwestern Shaanxi province. But local farmers like Zhou Yaping say there is little to celebrate. 

Jun 05 - Farmers in EU raise alarm over Mercosur, Ukraine trade deals
French and Spanish farmers warned on Wednesday that a flood of imports under planned European Union trade agreements with South American bloc Mercosur and Ukraine risked severely undermining European agriculture. The concerns come ahead of Brazilian President Luiz Inacio Lula da Silva's official visit to France and the expiry on Thursday of a free trade deal with Ukraine, which is expected to shift to import quotas this summer.

Jun 04 : Prices of Russian wheat have fallen to a multi-month low ( SovEkon )

Purchasing prices of Russian wheat with 12.5% protein in deep-sea ports fell to 16,500 - 16,800 rub/t ($209) from 16,800 - 17,000 rub/t ($210) a week earlier, analysts of SovEkon calculated. Ruble prices plunged to their lowest level since September 2024 under the pressure of weakening export quotations and the strengthening of the ruble.

The main factor in the price decline was the weakening of export quotations. Quotes on Russian wheat with 12.5% protein of the old harvest fell to $240-243/t from $248-250/t a week earlier.

The ruble’s appreciation also remains a drag on prices. On June 2, 78.61 rubles were offered for one dollar against 101.67 rubles at the beginning of the year.

Exports from Russia are sluggish. SovEkon estimates exports of wheat from Russia in May at 1.9 million tons compared to 4.5 million tons a year ago and an average of 2.2 million tons. According to the preliminary estimate of SovEkon, in June from the Russian Federation will also be shipped 1.9 million tons against 4.2 million tons a year earlier and 2.2 million tons on average.

Optimism about a new crop is also putting some pressure on wheat prices. The new wheat crop is expected to begin trading in July.

In the near future, the ruble wheat market is likely to remain under pressure. A possible reduction in export duties and low cereal stocks could help support prices. An additional factor could be the possible weakening of the ruble.

Jun 04 - Ukraine's 2025 grain harvest may fall 10%, minister says
Ukraine's 2025 grain harvest may decrease by 10% to around 51 million metric tons compared to 56.7 million tons in 2024, according to the most pessimistic estimates, Ukrainian agriculture minister Vitaliy Koval said on Tuesday.Ukraine is a global producer of grains and oilseeds, but the harvest is highly dependent on favourable weather conditions during both the autumn sowing and spring months. 

Jun 04 - India's May palm oil imports jump 87% to six-month high, dealers say
India's palm oil imports in May surged to a six-month high, as lower inventories and the tropical oil's discount to rival soyoil and sunflower oil prompted refiners to increase purchases, according to five dealers. Higher palm oil and soyoil imports by India, the world's biggest buyer of vegetable oils, could support Malaysian palm oil prices and U.S. soyoil futures.

Jun 03 - Egypt's new grains buyer struck rare deal for French wheat, sources say
Egypt's state grains buyer Mostakbal Misr agreed in April to buy around 180,000 metric tons of French wheat from two top European traders, trading sources said, in a sign of growing acceptance of the new entity by global suppliers. Mostakbal Misr bought two 60,000 metric ton cargoes from one firm and another similarly sized cargo from another, two trading sources with knowledge of the matter told Reuters, though they said delivery of the cargoes was facing delays. 

Jun 03 - Australia forecasts wheat output down 10% on dry conditions; barley, canola also hit
Australia's wheat production is projected to drop 10% this year to 30.6 million metric tons, with barley and canola output also expected to fall due to dry conditions across several cropping regions, the agriculture ministry said. Nevertheless, production is expected to remain well above the 10-year average, the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) said in a quarterly crop report.

Jun 02- FISHMEAL & OIL COMMENTS AND PRICES: PERUVIAN “INDICATION” ( Hammersmith blog )

Fishing in the south of Peru has dropped to almost nothing in the past week --- total landed is now at 194,800 with 56,200 remaining on the quota. Fishing in the North/Central region is also lower this week due to bad weather and fishing bans. The total North/Central catch is now at 1.69 million m/t which shows 1.31 mm/t on the quota.

The juvenile level in the North/Central catch is still quite high so more mini bans are to be expected.

The price spread between super prime/prime and other grades is widening as demand has covered almost all of the higher grade production. Total estimated sales are now at about 500,000 m/t which is almost 75% of total production if the full quota is landed.

Peru’s fishmeal exports in 2025, January to April, are at 513,000 m/t which is up by 83% from last year’s lower catch shipments. Shipments to Asia are at 88% with 9% going to Europe. China’s imports of fishmeal are up by 11.5% January to April 2025, to 624,500 m/t, with 50.2% (313,000 m/t) coming from Peru. All statistics are from the MSI Ceres weekly report.

The weather in North/Central Peru is getting worse for fishing and the mini bans make forecasting difficult. Everyone has their fingers crossed that June will be a decent fishing month and that we will reach full quota.

Jun 02 - India cuts import tax on crude edible oils to help reduce food prices
India halved the basic import tax on crude edible oils to 10% on Friday, the government said, as the world's biggest vegetable oil importer tries to bring down food prices and help the local refining industry. The customs duty applies to crude palm oil, crude soyoil and crude sunflower oil. 

Jun 02 - Thai poultry industry poised for growth on Brazil bird flu, lower feed costs
Thailand's poultry sector is poised to grow this year, as an avian flu outbreak in top exporter Brazil creates market opportunities, and lower feed costs improve margins for the world's third-largest shipper of chicken meat, industry leaders said. Prasit Boondoungprasert, CEO of Charoen Pokphand Foods, Thailand's largest agribusiness, said the current market situation is favourable for the Thai poultry industry.

May 31 - WEEKLY USA GRAIN AND PROTEIN REPORT ( Hammersmith blog )

It was a short work week in the USA following the Monday holiday but the market still tried to do exciting things --- probably due to the everchanging tariff situation and the possible reciprocal tariffs from major grain/oilseed importing regions. At this time what may happen with the EU and China and reciprocal tariffs are in question ---- the USA doubling of the import tariff on steel and aluminum will exacerbate the situation with both China and the EU.

USA new crop corn prices dropped by about USD 5 to 6 m/t this week while US soybeans were down by USD 9 m/t and soymeal was almost unchanged on the week. US winter wheat prices were lower by USD 3 or 4 m/t but US spring wheat prices increased by USD 6 m/t.

US spring wheat was higher this week due to quality concerns on the current crop. Trade reports feel that soymeal prices will be moving higher as a result of some harvest delays in South America. Corn was seen being push lower by the very large South American corn crops.

Weather in the US is seen delaying some winter wheat harvests and some corn and soybean planting but the delays should be limited and short.

On the export sales side of things --- corn exports last week were at a good level but soybean exports moved lower. USA corn is still the most competitive in many import markets. Wheat exports were higher than the trade expected.

Next week will once more be a tariff driven market unless every country is just sitting back planning what to do for July deadlines. Perhaps it will be a quiet week --- probably not as we haven’t had a quiet week since February..

May 30 - India wheat, rice production to rise to record high, government says
India is likely to produce a record 117.5 million metric tons of wheat in the year ending June 2025, the farm ministry said, above its March forecast of 115.4 million tons, as higher prices prompted farmers to expand the area planted with high-yielding seed varieties. India, the world's biggest wheat producer after China, produced 113.3 million tons of wheat in 2024, the farm ministry said in a statement issued late on Wednesday. 

May 30 - Argentina wheat planting begins at a good pace
Wheat planting for the 2025/26 season started at a good pace in Argentina, supported by dry weather in the west and north of the country, the Buenos Aires Grains Exchange (BdeC) said on Thursday. Argentina is a major world exporter of wheat and in recent weeks its farmers started sowing the cereal, with the BdeC projecting a planted area of 6.7 million hectares.

May 30 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· corn DAP Odessa, Ukraine, grasses-worm @231$

- World
· The U.S. court blocked most of Trump's tariffs, recognizing the excess of presidential powers in the field of international trade.
· Thanks to the strong harvest, India will do without wheat imports this year, which can increase the pressure on world prices.
- Europe
· In 2025, Germany expects an increase in wheat harvest of 13.6% and winter rape of 5.6%, while winter barley harvest will decrease by 3.9%, spring barley - by 14.4%, and corn - by 6.2%.

- CORN
Prices for corn in the domestic market remain stable both for the old and for the new crop. Agrarians are cautious about forward sales. At the same time, liquidity is gradually declining - buyers complete purchases of the old corn crop and are already actively switching to trading early crops of the new season.
The old corn crop was traded in the range of 228-230 $/t on DAP ports, while the new crop - about 198-200 $/t DAP (October-November).

- WHEAT
The wheat market remains low - prices are stable, and trading activity is low. Demand for an old crop is limited, as most players are already focused on the new wheat. Agrarians refrain from sales, expecting more favorable conditions closer to the start of harvesting. The price spread between the old and the new crop is about $ 16-18 / t.

- SUNFLOWER
The purchasing activity in the sunflower market is weakening - some processors reduce purchases due to the preparation for the rape season, while others have already covered the needs for the coming period. Prices for the old crop are reduced. Additional pressure reduces the cost of sunflower oil in the world market, which increases the restraint of players.

- RAPESEED
The demand for rape of the new crop increased, which supported the rise in prices. Despite this, farmers remain passive - prevents uncertainty about the volume and quality of the future crop.

- SOYA
Trading activity in the domestic soybean market remains low, so prices have not undergone drastic changes. For GMO soybeans prices in ports of Odessa were 386-388$ under DAP conditions, for non-GMO - 420-425$ DAP.

May 29 - Forecast of Russian Wheat Exports in 2025/26 Upgraded (SovEkon)

SovEkon raised its forecast for wheat exports in 2025/26 by 1.1 million tons to 40.8 million tons. The first forecast for grain exports in the new season is 49.4 million tons against 50.2 million tons in the 24/25 season. Wheat exports are expected to be close to average, and the start of the export campaign may be sluggish.

Forecast of wheat export in the new season has been raised on the background of revised harvest forecast. In May 2025, the estimate of wheat harvest was increased by 1.2 million tons to 81.0 million tons (82.6 million tons in 2024) amid favorable weather conditions.

The export of barley is estimated at 2.7 million tons against 3.6 million tons, maize - in 3.0 million tons against 2.8 million tons.

The start of a new export campaign may be sluggish against the background of relatively high ruble prices and, possibly, mediocre harvest in the South, primarily due to the Rostov region.

An additional factor could be the historically low stocks at the end of the 24/25 season. According to Rosstat's calculations, as of May 1, wheat reserves in agricultural organizations amounted to 7.8 million tons, which is 31% lower than last year's figure and 6% lower than the average.

The U.S. Department of Agriculture has published export forecasts for the 2025-26 season. Wheat exports are estimated at 45.0 million tons. A similar situation was observed last year: the initial forecast of the US Ministry of Agriculture was overly optimistic and was subsequently downgraded. In our view, the agency continues to seriously underestimate domestic consumption, which leads to a reassessment of export potential.

Despite the improved export forecast, the volume is significantly inferior to the 2022/23 and 2023/24 seasons, which, together with the active reduction in Russian reserves, will support global quotes

May 29 - US ruling that Trump tariffs are unlawful stirs relief and uncertainty

•     Trump administration has said it will appeal the court ruling
•     US dollar, banks, luxury, chipmakers lead gains
•     Analysts say even a pause provides valuable time

- A U.S. trade court ruling that blocked most of President Donald Trump's tariffs and found he had overstepped his authority triggered some relief on financial markets on Thursday, while adding to the uncertainties weighing on the global economy. Among the United States' big trading partners, in the throes of negotiation with the Trump administration, Germany said it could not comment, as did the European Commission.

The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news.
"We ask for your understanding that we cannot comment on the legal proceedings in the U.S., as they are still ongoing," a spokesperson for Germany's economy ministry said.
"We continue to hope that a mutually beneficial solution can be reached in the negotiations between the EU Commission and the U.S. government."
Winners on financial markets included chip makers, banks, luxury stocks and auto industry, all hit hard by tariff-led disruptions.
The U.S. dollar rallied 0.2% against the yen and 0.3% against the Swiss franc as currencies and assets that have benefited from the tariff-induced market turmoil fell.

- Wall Street stock index futures rose by more than 1.5%
The trade court ruling on Wednesday dealt a blow to Trump's central policy of using tariffs to wring concessions from trading partners.
His administration immediately said it will appeal and analysts said investors will remain cautious as the White House explores its legal avenues.
Following a market revolt after Trump's major tariff announcement on April 2, the U.S. president paused most import duties for 90 days and said he would hammer out bilateral deals with trade partners. But apart from a pact with Britain this month, agreements remain elusive and the court's stay on the tariffs may dissuade countries like Japan from rushing into deals, analysts said.

- Another pause in Trump's stop-start trade policy could be helpful to opponents of his tariffs and to traders who relish volatility.
"Assuming that an appeal does not succeed in the next few days, the main win is time to prepare, and also a cap on the breadth of tariffs – which can’t exceed 15% for the time being," George Lagarias, chief economist at Forvis Mazars international advisers, said.

May 29 - Cold, dry weather to boost delayed soybean harvest in ArgentinaDry and cold weather conditions expected in the coming days will help dry out Argentina's agricultural fields, allowing producers to intensify their delayed soybean harvest following repeated rains, the Buenos Aires and Rosario stock exchanges said on Wednesday. Argentina is the world's largest exporter of soybean oil and meal, but heavy rainfall in key farming regions has stalled the oilseed harvest, raising concerns about potential yield losses. The government estimates the 2024/25 soybean crop at 49 million metric tons. 

May 28 - India's soybean acreage to shrink as farmers favour corn, sugar cane
Soybean acreage in India is likely to fall this year as corn and sugar cane could replace it in some areas after these crops gave higher returns to farmers than the oilseed, farmers and industry officials told Reuters. Soybean is India's main summer-sown oilseed crop and lower output will force the world's biggest importer of edible oils to increase overseas buying of palm oil, soyoil and sunflower oil. 

May 28 - USDA's US corn, spring wheat ratings fall below expectations
The U.S. Department of Agriculture on Tuesday rated 68% of the U.S. corn crop as good to excellent in its first condition ratings for the 2025 crop, below the average estimate of 73% in a Reuters analyst poll. Pre-report trade estimates from 14 analysts surveyed by Reuters had ranged from 64% to 78% good to excellent. The United States is the world's largest exporter of corn, used primarily for animal feed and ethanol fuel.

May 27 - Weak Chinese demand leaves Australia with too much wheat
Australian wheat inventories will likely be much higher than last year at the end of the season, pressuring prices, because of a drop in Chinese imports and competition from ample supplies out of rival exporter Russia, analysts and traders said. A fire sale of stored grain may be necessary to clear space before the new wheat harvest in the last quarter of the year, which would weigh on benchmark Chicago futures already trading near their lowest since 2020 because of abundant global supply.  

May 27 - Adequate moisture offsets rainfall deficit for Ivory Coast's cocoa crop, farmers say
Sufficient moisture levels in most of Ivory Coast's cocoa growing regions boosted the development of the April-to-September mid-crop, despite below-average rainfall last week, farmers said on Monday. Ivory Coast, the world's top cocoa producer, is in its rainy season which runs officially from April to mid-November, when rains are abundant and often heavy.

May 26 - Argentina wheat harvest could tick up on favorable weather, soil conditions
The 2025/26 wheat harvest could be the second-best on record, the Rosario grains exchange said in a report on Friday, given favorable weather forecasts and excellent soil conditions for planting. That will allow farmers to widen their planting area to 7.2 million hectares (17.8 million acres), the exchange said, which could yield a larger harvest of 21.2 million metric tons. The exchange currently forecasts a harvest of 21 million tons. 

May 26 - Brazil state says it rules out bird flu in commercial flock
Brazil's Santa Catarina state said it has ruled out an outbreak of bird flu in a commercial chicken farm while the federal government was keeping it on a list of suspected cases pending further tests. In a statement late on Thursday, the state cited laboratory test results for its conclusion but noted additional tests are required.

May 26 - Taiwan's MFIG tenders to buy up to 65,000 tons of corn
Taiwan's MFIG purchasing group has issued an international tender to buy up to 65,000 metric tons of animal feed corn which can be sourced from the United States, Argentina, Brazil or South Africa, European traders said on Friday. The deadline for submission of price offers in the tender is Wednesday May 28, they said.

May 24 - FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES (Hammersmith Reports)

- Fishing in the North/Central region was not quite so good this week due to mini-bans caused by high juvenile levels ---- fishing was still at 148,000 m/t making the total landings now at 1.58 million m/t and leaving 1.42 mm/t on the quota. Mini-bans are expected to continue in the North/Central region. Landings in the South region were only at 4,300 m/t bringing the total to 195,000 m/t with 56,000 m/t left on the quota.

- The IFFO conference in Madrid was reported to have been very good and there seemed to have been quite a bit of new business done during the conference according to trade reports. As usual, China is the main buyer and still seem interested in buying more. Sales to date from Peru look to be about 470,000 m/t – which could be as much as 66% of total production at full quota.

- At this point everyone still seems to feel that the total quota will be landed which will make 2025 a very good year so far.

May 23 - Trump renews trade threats, taking aim at European Union, Apple

•     Trump threatens 25% tariff on non-US made iPhones
•     Markets react negatively, S&P 500 down 0.9% at open
•     Apple plans to shift manufacturing to India by 2026
•     Apple's planned US investments do not include iPhone production

- U.S. President Donald Trump threatened on Friday to ratchet up his trade war once again, pushing for a 50% tariff on European Union goods starting June 1 and warning Apple , opens new tab he may slap a 25% levy on all iPhones bought by U.S. consumers.
The twin threats, delivered via social media, roiled global markets after weeks of de-escalation had provided some reprieve. The S&P 500 fell 1% in early trading, the Nasdaq fell 1.2%, and European shares fell 1.5%.

- Trump's broadside against the EU was prompted by the White House's belief that negotiations with the bloc are not progressing fast enough. But his saber-rattling also marked a return to Washington's stop-and-start trade war that has shaken markets, businesses and consumers and raised fears of a global economic downturn.

- The president's attack on Apple, meanwhile, is his latest attempt to pressure a specific company to move production to the United States, following automakers, pharmaceutical companies and chipmakers. However, the United States does not produce any smartphones - even as U.S. consumers buy more than 60 million phones annually - and moving production would likely increase the cost of iPhones by hundreds of dollars."All the optimism over trade deals wiped out in minutes – seconds, even," said Fawad Razaqzada, market analyst at City Index and FOREX.com, in a note.U.S. Treasury Secretary Scott Bessent told Fox News on Friday that the 50% EU threat will hopefully "light a fire under the EU," adding that other countries have been negotiating with Washington in good faith.

"The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with," Trump wrote on his Truth Social site.

"Our discussions with them are going nowhere!"- The European Commission on Friday declined to comment on the new threat, saying it would wait for a phone call between EU trade chief Maros Sefcovic and his U.S. counterpart Jamieson Greer scheduled for Friday. Envoys from the 27 EU countries are also due to meet on trade in Brussels later in the day.Speaking to reporters in The Hague, Dutch Prime Minister Dick Schoof said he agreed with the EU's strategy in trade talks with the United States, and said the EU would likely to see this latest announcement as part of the negotiations."We have seen before that tariffs can go up and down in talks with the US," he said.The White House paused most of the punishing tariffs Trump announced in early April against nearly every country in the world after investors furiously sold off U.S. assets including government bonds and the U.S. dollar. He left in place a 10% baseline tax on most imports, and later reduced his massive 145% tax on Chinese goods to 30%."My base case is that they are able to reach an agreement, but I am most nervous about negotiations with European Union," said Nathan Sheets, global chief economist at Citigroup in New York.

- A 50% levy on EU imports could raise consumer prices on everything from German cars to Italian olive oil.EU's total exports to the United States last year totaled about 500 billion euros ($566 billion), led by Germany (161 billion euros), Ireland (72 billion euros) and Italy (65 billion euros). Pharmaceuticals, cars and auto parts, chemicals and aircraft were among the largest exports, according to EU data.The White House has been in trade negotiations with numerous countries, but progress has been unsteady. Finance leaders from the Group of Seven industrialized democracies tried to downplay disputes over the tariffs earlier in the week at a forum in the Canadian Rocky Mountains."The EU is one of Trump's least favorite regions, and he does not seem to have good relations with its leaders, which increases the chance of a prolonged trade war between the two," said Kathleen Brooks, research director at XTB.Shares in Germany carmakers and luxury companies, some of the most exposed to tariffs, fell on the threats.Volvo Cars CEO Hakan Samuelsson told Reuters on Friday that customers would have to pay a large part of tariff-related cost increases, and that it could become impossible to import the company's smallest cars to the United States.- But he remained hopeful that Europe and the United States will soon come to an agreement."It could not be in the interest of Europe or the U.S. to shut down trade between them," Samuelsson said.Apple declined to comment on

- Trump's threat, which would reverse exclusions he granted on smartphones and other electronics imported largely from China, in a break for Big Tech firms that sell consumer goods. Shares fell 2.5% in Friday trading."I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else," Trump said in a post on Truth Social on Friday, referring to the Apple CEO, without additional details.

- Any effort to impose a tariff on Apple alone would likely face legal hurdles, according to experts."There's no clear legal authority that permits company specific tariffs, but the Trump administration may try to shoehorn it under its emergency power authorities," said Sally Stewart Liang, a partner at Akin Gump in Washington. Company-specific tariffs would require long investigations, such as those on anti-dumping, Liang said.Apple is speeding up plans to make most iPhones sold in the United States at factories in India by the end of 2026 to navigate potentially higher tariffs in China.But the odds on moving production to the U.S. are slimmer. In February, Apple said it will spend $500 billion over four years in nine American states, but that investment was not intended to bring iPhone manufacturing to the U.S."It is hard to imagine that Apple can be fully compliant with this request from the president in the next 3-5 years," D.A. Davidson & Co analyst Gil Luria said.

May 23 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· DAP corn Odessa, Ukraine, grasses-worm @.
· sunflower oil DAP Odessa, Ukraine Jun @1'107$

- Ukraine
· As of 22.05, Ukraine had sown wheat - 215.3 thousand hectares, barley - 743.6 thousand hectares, corn - 3758.2 thousand hectares, sunflower - 4350.5 thousand hectares, soybeans - 2025.0 thousand hectares.
· The European Commission recognized Ukraine as a country with a low risk of deforestation and human rights violations in the production of raw materials.

- Europe
· Import to the EU from 01.07 to 18.05:
- Corn - 17.7 million tons (+8% y/y). Ukraine's share - 56.9%, Brazil's share - 9% (was 69% and 17%). The U.S. rose to 20% (from 0.7%).
- Wheat - 7 million tons (-16%). Ukraine - 62.5% (4.4 million tons), Canada - 14% (1 million tons).
- Soya - 12.5 million tons (+7%). TOP-3: USA - 46% (5.7 million tons), Brazil - 37% (4.6 million tons), Ukraine - 11% (1.4 million tons).
- Rape - 6.3 million tons (+24%). Ukraine lost leadership. TOP-3: Australia - 45% (2.8 million tons), Ukraine - 38% (2.4 million tons), Canada - 11% (0.7 million tons).

- CORN
Prices for corn of the old crop remain stable in all directions. Stock quotes have increased due to active exports from the United States. The devaluation of the dollar also supports prices. The rapid completion of sowing in the USA and Ukraine creates an optimistic start to the season. Europe is actively trading crops for the period January-May, demonstrating confidence in liquidity. The Ukrainian manufacturer is still restrained in sales of the new crop.

- WHEAT
In the wheat market, no significant changes: prices fluctuate within a narrow range, and the spread between the old and the new crop is reduced due to lower prices for the old crop. The growth of exchange quotations is perceived as a technical correction, not related to the physical market. Global demand is weak. Manufacturers are restrained in sales - waiting for the harvest of a new crop.

- SUNFLOWER
The activity in the sunflower market is low - part of the processors are preparing for the rape season, reconfiguring and cleaning the warehouses.

- RAPESEED
Prices for a new crop of rapeseed start at a good level, but do not stimulate active sales - some areas had to be replanted due to spring frosts.

- SOYA
Prices for soybeans are stable, with a slight strengthening in July-August. The spread between the old and new crops is $10-20 in favor of the old harvest.

May 23 - Where's the beef? Argentine steak exports slide as strong peso inflates costs
In the Villarroel meat plant outside Buenos Aires, workers skillfully butcher cuts of Argentine beef, popular with restaurants from Shanghai to New York. But the country's steak exports are now sliding as costs rise on a stronger local peso. In the first four months of the year, beef exports fell nearly 20% year-on-year to around 255,000 tons, according to government agency Senasa. Shipments to price-sensitive top buyer China plunged to 137,000 tons from 203,000 tons a year earlier.

May 23 - Pigs can't fly: US high-end livestock breeders lose millions in China tariff fallout
Dr. Mike Lemmon's pigs, each valued between $2,500 and $5,000, were supposed to be on a plane bound for Hangzhou, China, from St. Louis in April, where’d they spend the flight snoring, play fighting and snacking on oats and husked corn before taking up residence at Chinese hog farms. Instead, many went to a local Indiana slaughterhouse for less than $200 each after the Chinese buyer canceled the order within a week of China implementing retaliatory tariffs against the U.S. in April.

May 23 - Russia removes minimum wheat price recommendation for grain export traders, sources say
Russia, the world's biggest wheat exporter, has removed a minimum wheat price recommendation for its grain export traders until the end of the export season on July 1, four market sources told Reuters. The initial minimum price recommendation for May and June had been $250 dollars a metric ton, the sources said.

May 23 - Jordan tenders to buy up to 120,000 tons of feed barley, traders say
Jordan's state grains buyer has issued an international tender to purchase up to 120,000 metric tons of animal feed barley, European traders said on Thursday. The deadline for price offers is May 28. Shipment is sought in a series of possible combinations in consignments of 50,000 to 60,000 tons for September 1-15, September 16-30, October 1-15 and October 16-31.

May 22 - Dry weather to bring relief to Argentina's soggy farmlands
Dry weather conditions in the coming days will help air out Argentina's muddy fields, the Buenos Aires Grains Exchange said on Wednesday, after heavy storms flooded the already behind-schedule soybean crop. Fierce rains washed out the north of Buenos Aires province at the end of last week, with the exchange warning that it may need to cut its estimates for the soybean harvest. Argentina is the world's largest exporter of soybean oil and meal.

May 22 - In food inflation-hit Brazil, bird flu may offer some relief
Poultry trade bans triggered by a bird flu outbreak in Brazil may weigh on domestic chicken prices, offering some relief - if even short-lived - from the food inflation that has undermined the government's popularity, analysts said.  Brazil, the world's largest poultry exporter, ships about a third of its chicken meat abroad, industry group ABPA said. And Rio Grande do Sul, where the first outbreak was identified, accounted for about 12% of chickens slaughtered last year, according to government data.

May 22 - Algeria issues new tender to buy up to 80,000 metric tons of corn, traders say
Algerian state agency ONAB has issued a new international tender to purchase up to 80,000 metric tons of animal feed corn sourced from optional origins, European traders said on Wednesday. The deadline for submission of price offers in the tender is also Wednesday, May 21, they said.

May 22 - EU 2024/25 soybean imports up 7% by May 18, rapeseed up 24%
European Union soybean imports for the 2024/25 season that began in July reached 12.46 million metric tons by May 18, up 7% from the same period a year earlier, European Commission data showed on Tuesday. EU rapeseed imports in the same period were 6.28 million tons, up 24% year on year, while soymeal imports rose by 25% to 16.82 million tons.

May 21 - Argentina extends tax break to wheat exports, rules out soy and corn
Argentina will extend a tax break on exports of one staple crop, wheat, while ruling out additional relief for other key grains shipments, Economy Minister Luis Caputo said on Tuesday. Farmers and exporting firms had been calling for the measure, which was set to expire at the end of June, to be extended.  

May 21 - EU 2024/25 soft wheat exports at 18.45 million tons by May 18
European Union soft wheat exports since the start of the 2024/25 season in July had reached 18.45 million metric tons by May 18, up from 18.26 million a week earlier, and down 34% YEAR ON year, European Commission data showed on Tuesday. A breakdown of this season's volumes showed Romania was still the largest EU soft wheat exporter with 4.96 million tons exported so far, followed by Lithuania with 2.45 million tons, Germany with 2.36 million tons, Latvia with 2.09 million tons and France with 2.05 million tons.

May 21 - SovEkon published its first forecast of grain harvest in 2025

SovEkon published the first forecast of the Russian grain harvest in 2025, which analysts of the center estimated at 127.6 million tons compared to 125.9 million tons a year earlier. Harvest of cereals and pulses in general will increase against the expected increase in barley, maize and other crops, which will compensate for the expected decrease in wheat yield.

Estimates of wheat harvest in 2025 were increased by 1.2 million tons to 81.0 million tons (82.6 million tons in 2024). The main factor behind the improved wheat forecast is improved weather conditions in recent weeks. However, the current weather conditions are unlikely to fully compensate for the problems faced by winter wheat last year and in the first half of this spring.

Barley harvest in 2025 is estimated at 17.4 million tons against 16.7 million tons a year ago, maize - 14.6 million tons against 14.0 million tons. Harvest of cereals and pulses in general will increase against the expected growth of barley, maize and other crops, which compensates for the expected decrease in wheat harvest.

The total area under cereals will fall for the second year in a row, to 45.7m ha against 46.1m ha. Agricultural producers are shrinking their acreage amid export duties and falling profitability. An additional factor is the expected switch from cereals to oilseeds, the cultivation of which remains more profitable.

The U.S. Department of Agriculture published its first forecast of cereal production in 2025/26. Wheat production is estimated at 83.0 million tons (excluding Crimea), barley production - in 18.0 million tons, corn - in 15.0 million tons. In 2024, 0.9 million tons of wheat were harvested in the Crimea.

Weather permitting, wheat and cereal harvesting forecast could be raised. But growing optimism about a new crop seems premature.

May 21 - Weather set to hit harvest in Russia's largest grain region
High temperatures and a lack of rain over the coming months are expected to deplete the harvest in Russia's largest grain region Rostov, the head of the local grain lobby group said after a farming emergency was declared. Rostov Governor Yuri Slyusar issued a decree on May 19 introducing the state of emergency for farming after spring frosts and ordered local authorities to evaluate the damage.  

May 20 - Argentina's soy crop could face 'significant losses' after storms
Argentina's 2024/25 soybean crop could suffer "significant losses" in northwestern Buenos Aires province due to the impact of recent heavy storms, the Buenos Aires grains exchange said on Monday, indicating it may be forced to trim its outlook. The exchange currently estimates a soybean crop at a decent 50 million metric tons, but said in its report that the heavy rains could further delay the already slow harvest of the grain and cause damage to the plants.  

May 20 - USDA says corn crop 78% planted, soy 66%; wheat ratings dip
U.S. farmers had planted 78% of the nation's corn crop by Sunday, below an average of analysts' expectations but ahead of the five-year average for this time of year of 73%, the U.S. Department of Agriculture said in a weekly crop report on Monday. Soybean planting was 66% complete, ahead of the five-year average of 53% and slightly higher than most analysts' predictions.

May 19 - Brazil farmers, officials step up controls where bird flu was found on commercial farm
Officials and chicken farmers in Brazil have stepped up sanitary controls close to where the country's first case of avian influenza was found on a commercial farm, while racing to track the virus to stop its spread. Brazil is the world's largest chicken exporter. News on Friday of the first case of highly pathogenic avian influenza found on a commercial farm in Montenegro, in Rio Grande do Sul state, triggered trade bans for Brazilian chicken by China and the European Union, as well as fellow Latin American countries Mexico and Argentina, among others.  

May 19 - Russian harvester maker suspends production as demand from farmers collapses
Russia's largest maker of combine harvesters and tractors, Rostselmash, said on Friday the demand for its machines has collapsed, forcing it to suspend production from June and cut costs, since farmers have no money to buy new equipment. Rostselmash said it will send all its workers on mandatory leave starting in June, before the harvesting season begins, moving the leave forward from August and September as in previous years.

May 16 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· corn DAP Odessa, Ukraine, grasses-worm @232$
· Soybean non-GMO DAP Odessa, Ukraine May @...
· sunflower oil DAP Odessa, Ukraine May-Jun @1'120$

- Ukraine
· USDA published the forecast for the production of grain and oilseeds in Ukraine in 2025/26 MY: wheat - 23 million tons (season 24/25 - 23.4 million tons), corn - 30.5 million tons (26.8 million tons), barley - 5.7 million tons (5.8 million tons), soybeans - 6.6 million tons (7 million tons), sunflower - 14.4 million tons (13 million tons), rape - 3.7 million tons (3.8 million tons).
· As of 15.05 in Ukraine were sown: spring wheat - 215.2 thousand hectares, spring barley - 743.1 thousand hectares, corn - 3499.9 thousand hectares, sunflower - 3919.3 thousand hectares, soybeans - 1732.2 thousand hectares.
- World
· The United States and China have signed a 90-day trade truce, within which Washington will reduce tariffs from 145% to 30%, and Beijing - from 125% to 10%.

- CORN
The decline in the activity of Ukrainian traders, who previously formed sufficient stocks, as well as weak trading activity on the part of buyers on the foreign market, continue to put pressure on the domestic market. As a result, the price of corn continued to decline. The old harvest in the ports of Odessa fell to 228-232 $/t DAP.
The new crop was traded at 200-202 $/t DAP. The spread between them remains at a fairly high level - about $ 30/t.
However, a sharp drop in prices led to a reduction in supply - farmers began to restrain sales, which may limit further price decline.

- WHEAT
In the domestic market of Ukraine, the main driver of demand for wheat of the old crop are processors. They maintain stable purchasing activity and offer a premium for deliveries directly to factories compared to port prices.
At the same time, in the ports of Odessa, prices for the old harvest continue to decline against the background of limited demand from traders, who are increasingly reorienting themselves to the new harvest.

- SUNFLOWER
The market is in a state of uncertainty. Farmers refrain from concluding forward contracts for new crop sunflowers due to weather risks and lack of price incentives. Refiners, waiting for production growth in the new season, are not in a hurry to raise prices and refrain from active purchases. The new sunflower crop is traded in the range of 530-540 $/t with VAT, depending on the oil content and delivery region.
The premium on the high oleic segment is reduced - the spread has already decreased from 100$ a month ago to 50$.

- RAPESEED
Rape of the new crop was traded at 505-510 $/t on the basis of DAP ports. Farmers continue to refrain from actively concluding forward contracts due to weather risks and concerns about the condition of crops, despite the preservation of high demand.

- SOYA
American and Brazilian soybeans continue to enter the market, maintaining a high supply and pressure on prices. In such conditions, buyers see no reason to increase purchase prices, which limits the possibilities of Ukrainian exporters.

May 16 - Argentina's soy farmers race ahead with harvest to beat the rains
On Cristian Giacobone's farm in the heart of Argentina's Pampas plains, workers in the soy fields have been up since dawn, racing to harvest the rain-delayed crop before the arrival of new storms that will make threshing more difficult. The soy crop, the main export of the South American country's embattled economy, has been delayed by unusually strong rains, weighing on sales of the oilseed that are running at the slowest pace in some 11 years. 

May 16 - Some Brazil sugar mills weighing switch to ethanol
Some sugarcane processors in Brazil are closely following the price gap between sugar and ethanol and could start making more of the biofuel if sugar prices continue to fall and oil prices continue their recovery from recent lows. The possible switch in production strategy was a major topic at an annual sugar market meeting in New York this week.

May 15 - Southwest Kansas wheat yield estimated above average, crop tour shows
Crop scouts on Wednesday, the second day of an annual three-day tour of Kansas, projected an average yield for hard red winter wheat in the southwestern portion of the state at 53.3 bushels per acre (bpa), up from 42.4 bpa in 2024. The Wheat Quality Council tour's five-year average for the same area from 2019-2024 was 42.3 bushels per acre. No tour was held in 2020 because of the COVID-19 pandemic. 

May 15 - Brazil corn output forecast at 125 mln metric tons, association president says
Brazil's corn output is forecast to hit around 125 million metric tons in the 2024/25 crop, Paulo Bertolini, president of Abramilho, the Brazilian Association of Corn and Sorghum Producers, said on Wednesday, adding that the ethanol industry's consumption of corn could soon more than double. "Corn ethanol is already consuming around 20 million tons of corn this year and has a tendency and a possibility of consuming more than double that in a short period of time," Bertolini told Reuters on the sidelines of Abramilho's third congress in Brasilia.

May 14 - US farmers say Brazil keeps edge in China's soy market despite trade truce
A surprising tariff pause between Beijing and Washington will not help U.S. farmers revive soy sales in China without additional concessions, producers said, because top-supplier Brazil still has a competitive price advantage. Under the truce announced on Monday, the United States will cut extra tariffs it imposed on Chinese imports to 30% from 145% for the next three months, while Chinese duties on U.S. imports will fall to 10% from 125%. 

May 14 - Frost and drought hit grain and oilseed crops in southern Ukraine, forecasters say
Weather conditions in early May were mostly satisfactory for Ukrainian grain fields, but frost and drought in southern regions have damaged or killed some winter wheat, peas, rapeseed and barley crops, state weather forecasters said on Tuesday. APK-Inform agriculture consultancy quoted forecasters as saying that frost on the soil surface and in the air was a "dangerous phenomenon" that caused damage to fruit, vegetables and vineyards, as well as winter rapeseed and spring barley crops.

May 13 - Global sugar market swinging from deficit to small surplus, says Dreyfus
The sugar market will switch from a large deficit of 5.2 million metric tons in 2024/25 to a small surplus of 400,000 tons in 2025/26, with higher output in India offsetting a smaller crop in Brazil, commodities trader Louis Dreyfus said on Monday. Brazil's start of the crop is "very concerning", considering both agricultural yields and sugar content on cane, the commodities trader said in a presentation on the first day of New York Sugar Week.  

May 13 - World corn supplies set for 12-year lows despite massive US crop: Braun
U.S. farmers are poised to reap a record corn crop in the upcoming 2025-26 cycle. Additionally, combined output among key corn exporters in South America is also slated for an all-time high in 2025-26. But the U.S. Department of Agriculture predicts global corn ending stocks to fall to 12-year lows in 2025-26 as demand continues its robust pace. This means that the strong U.S. crop expectations need to come to fruition to prevent a further slippage in supplies.

May 12 - Ukraine 2025 spring grain sowing 76% complete, ministry says
Ukrainian farmers had sown 4.23 million hectares of grain as of May 8, or 76% of the expected area, almost the same acreage as was sown at the same date last year, the agriculture ministry said on Friday. The area included 733,400 hectares of spring barley, 212,600 hectares of spring wheat, 2.9 million hectares of corn, 209,000 hectares of peas and 157,000 hectares of oats and some other cereals, the ministry said. 

May 12 - US suspends Mexican cattle, horse and bison imports over screwworm pest
U.S. Agriculture Secretary Brooke Rollins on Sunday said she is suspending imports of live cattle, horses and bison through the southern U.S. border over the damaging pest New World screwworm, a measure that immediately drew opposition from Mexico. "I am announcing the suspension of live cattle, horse, & bison imports through U.S. southern border ports of entry effective immediately," Rollins said.

May 09 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· corn DAP Odessa, Ukraine, May @245$
· sunflower oil DAP Odessa, Ukraine May @1'118$

- Ukraine
· As of 08.05 in Ukraine were sown: spring wheat - 212.6 thousand hectares, spring barley - 733.4 thousand hectares, corn - 2921.8 thousand hectares, sunflower - 3508.2 thousand hectares, soybeans - 1347 thousand hectares.
- World
· The United States and the United Kingdom have announced a trade agreement to reduce tariffs.
· Talks between the United States and China expected this week could ease trade tensions between the countries.
· China resumes imports of Brazilian soybeans from 5 companies after suspension due to phytosanitary violations amid efforts to reduce dependence on the United States. Among them are the world giants Cargill, ADM and Olam.

- CORN
In the Ukrainian market, prices for old corn harvest have been reduced due to a decrease in the activity of purchases by traders. Most buyers have already formed the necessary volumes of stocks, which led to a weakening of demand and, accordingly, to the correction of prices. Additionally, it was influenced by the fact that Ukrainian corn is too expensive in the world market, which makes it difficult for it to compete with other origins, such as American or Brazilian.
In the ports of Odessa, over the last week, corn of the old crop fell on average by 4-5$ and was traded in the range of 236-238 $/t on DAP terms.
Prices for new crop corn also decreased and were traded at 200-202 $/t DAP.

- WHEAT
The wheat of the old crop gradually loses its relevance, which presses on prices. The most significant drop is observed in ports against the background of weak export activity. By contrast, processors reduce prices more slowly, so producers are more willing to sell to local buyers.
Prices for wheat of the new crop have undergone a slight decrease. Wheat of 11.5% was traded at 210-212 $/t under DAP ports with delivery in July-August, feed - 198-200 $/t DAP.

- SUNFLOWER
Sunflower prices in the domestic market continue to decline against the background of weakening demand from processors. Over the past week, the cost of sunflower decreased by an average of 400-600 UAH/t.
Some of the plants have already supplied themselves with raw materials by the end of the month, while others reorient the capacity for processing rape. This reduces interest in sunflower purchases and increases the pressure on prices.

- RAPESEED
The expected decline in rapeseed production in Ukraine remains a key factor in the formation of the new crop market. As a result, prices rose to 505-510 $/t DAP ports.

- SOYA
Prices for non-GMO soybeans are increasing against the background of increased demand, while interest in GMOs remains limited. In the ports of Odessa, the cost of soybeans with GMOs is 390-392 $/t DAP, while non-GMO products are traded at 440-445 $/t DAP.

May 09 - China's April soybean imports hit decade-low as customs delays disrupt trade
China's soybean imports plunged to a 10-year low in April as prolonged customs clearance delays and late Brazilian shipments caused by harvest slowdowns and logistics issues disrupted the usual flow of cargoes, traders and analysts say. Total imports for the month reached 6.08 million metric tons, down 29.1% from the same period last year, marking the lowest level since 2015, according to Reuters calculations based on data from the General Administration of Customs. 

May 09 - Argentina grains exchange edges up soy harvest forecast on better yields
Argentina's Buenos Aires grains exchange on Thursday edged up its forecast for the 2024/25 soybean harvest to 50 million metric tons, up from a prior forecast of 48.6 million tons, saying yields are proving better than previously expected. Argentine farmers have now harvested around half of the early batch of soybeans and reported higher-than-expected yields in the South American country's agricultural heartlands and Cordoba province, the exchange said in a weekly crop report.

May 08 - Uganda's 2024/25 crop year coffee exports to jump 27%, industry body says
Ugandan coffee exports in the crop year to September 30 are expected to jump 27% from the previous period, helped by maturing trees on newly planted acreage and favourable prices on the global market, an industry body said on Wednesday. The East African country, which mostly cultivates robusta beans, is Africa's largest exporter of coffee and relies on the crop as a major source of foreign exchange.  

May 08 - Palm oil prices to hit 2-year low at 3,500 ringgit/T in June-November, analyst Mistry says
Malaysian palm oil futures are likely to extend their decline and trade near a two-year low of 3,500 ringgit per metric ton from June to November as recovery in production leads to a stock build, industry analyst Dorab Mistry said on Wednesday. Palm oil production usually rises in top two producers Indonesia and Malaysia in the second half of the year.

May 07 - Global rice prices have hit a floor, but India's supply glut will smother any gains
Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further with top exporter India's currency firming, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say. While lower rice prices will benefit price-sensitive consumers in Africa and other regions, they are likely to further squeeze the already meagre earnings of farmers across Asia, which produces nearly 90% of the world's rice. 

May 07 - Argentina's soy harvest stalls after rains, meteorologist says
Argentina's already-delayed soy harvest has stalled further, a meteorologist said on Tuesday, following heavy rains and high humidity in the nation's main agricultural regions. Harvesting in Argentina, the world's largest exporter of soybean oil and meal, had already fallen behind after rains in March and early April.

May 06 - Frost, drought in April were negative for Ukraine's spring crops, forecasters say
Strong and prolonged frosts followed by unusually high temperatures and a lack of precipitation in April all had a negative impact on the development of Ukrainian spring crops, state forecasters said on Monday. Frosts in early April covered most of Ukraine and temperatures dropped to minus 11 degrees Celsius for up to 7 hours, APK-Inform agriculture consultancy quoted forecasters as saying. 

May 06 - Ivory Coast cocoa farmers expect an uptick in harvesting after above-average rains
Above-average rains in most of Ivory Coast's cocoa growing regions last week will help the development of young pods and boost output for the April-to-September mid-crop, farmers said on Monday. The world's top cocoa producer is in its rainy season, which officially runs from April to mid-November when rains are abundant and often heavy.

May 05 - Bunge's $34 billion Viterra merger stalled by US-China trade rift, Bloomberg reports
Bunge Global's $34 billion merger with Glencore-backed Viterra is being stalled by trade tensions between the United States and China, Bloomberg News reported on Friday, citing people familiar with the matter. "We are in the final stage of regulatory approval. We express our continued gratitude for the constructive dialogue with Chinese government officials throughout the regulatory review process," Bunge and Viterra said in separate emailed responses to Reuters. 

May 05 - South Korea exempts some Brazilian pork imports from tariffs, lobby says
Brazil's meat lobby group ABPA said on Friday that South Korea had exempted certain Brazilian pork imports from tariffs, citing information sent by Brazil's agriculture ministry. ABPA said in a statement that the exemption was valid for up to 10,000 metric tons of frozen pork meat, barring pork belly.

May 02 - Ukraine Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· corn DAP Odessa, Ukraine, May @243$
· soybean GMO DAP Odessa, Ukraine, May @395$
· sunflower oil DAP Odessa, Ukraine May-Jun @1'130$

- Ukraine
· Exports from Ukraine of cereals, oilseeds and their products in April amounted to: corn - 1 567 thousand tons, wheat - 771.1 thousand tons, barley - 47.2 thousand tons, soybeans 330.2 - thousand tons, rape - 84.3 thousand tons, sunflower - 1 thousand tons, sunflower oil - 478.2 thousand tons, soybean oil - 45.2 thousand tons, cake (soybean and sunflower) - 423 thousand tons.
- World
· CME Group on June 2 launches a new futures contract for Black Sea wheat tied to export prices in Romania and Bulgaria.
· Turkey has announced a duty-free import quota of 1 million tons of corn, which will be in force until the end of July.

- CORN
The exotic demand for corn has completely exposed the context and conditions of the corn market, making it more expensive even for food wheat. Prices with delivery in May traded at levels 239-243 $/t DAP ports.
The new crop is traded at 205-208 $/t DAP ports (October-December).
At the same time, the spread between the old and the new crop remains at a high level - $ 35, which only emphasizes the price imbalance of the market.

- WHEAT
Seasonal slowdown in trade puts pressure on the market of old-harvest wheat. However, due to the limited stocks of high-protein wheat, food grain prices decrease more slowly compared to forage.
Wheat of the new crop with 11.5% protein was traded at 212-214 $/t at DAP ports with delivery in July-August, feed wheat - 201-203 $/t DAP.
Market participants are focused on weather conditions - if there is not enough rainfall in the near future, it can adversely affect the condition of crops and cause prices to rise. The level of soil moisture remains insufficient, especially in the southern regions of Ukraine.

- SUNFLOWER
The decline in trade activity of European buyers in combination with the fall in world prices for sunflower oil caused a decrease in the cost of sunflower in the domestic market of Ukraine. Additional pressure is exerted by high supply from producers who actively implement crop residues.
On the western border, sunflower oil was traded $ 1,135-1,150 / t DAP with delivery in May. In the ports of Odessa, the price range was 1130-1140 $/t DAP.

- RAPESEED
Ukrainian farmers refrain from concluding forward contracts for new crops for rape due to weather risks - spring frosts and moisture deficiency have already limited the yield potential in the country. Against this background, manufacturers expect higher prices and plan to sell rapeseed after collection.

- SOYA
The growth of demand from processors has supported the price of soybeans. Against the background of low purchase prices in ports, their offers look more attractive, so farmers are more willing to sell to the domestic market.

May 02 - Chicago corn still chasing 50-year streak as prices stagnate: Braun
U.S. farmers are now in the thick of corn-planting, a period usually filled with anticipation for the upcoming harvest potential. But the markets may not be bringing much joy to producers given that new-crop Chicago corn futures started May on the lowest note in five years.

May 02 - Ukraine 2025 sunflower sowing area seen rising 5%, farm lobby says
Ukraine, the world's largest sunflower oil exporter, is likely to increase its sunflower sowing area by 5% in 2025 to around 5.1 million hectares, Ukrainian farm lobby UCAB said late on Wednesday. The Ukrainian sunflower seed harvest fell 13% in 2024 due to poor weather, pushing local sunseed prices to record high levels.

May 02 - Ukraine farm exports fall 23% in April month on month, farm lobby says
Ukraine's agricultural exports fell by 23.4% in April from a month earlier to 4.1 million metric tons, after increasing by almost 10% in March, Ukrainian farm lobby UCAB said on Thursday. Ukraine is a major grain and oilseeds grower and exporter.

May 01 - Europe's wheat crop in good shape but dry north a risk
Wheat crops in Europe are mostly in good condition, keeping the region on course for a rebound from last year's rain-hit harvest despite lingering concerns about dryness in northern areas, analysts said. Last week the European Commission left its forecast almost unchanged for this year's main wheat crop in the European Union, still projecting a 13% jump in production from a 12-year low in 2024.

May 01 - US farm agency to require DOGE approval for some loans
Farm loan employees at the U.S. Department of Agriculture's Farm Service Agency will now need approval from billionaire Elon Musk's Department of Government Efficiency to issue loans over $500,000, according to a memo seen by Reuters on Wednesday. DOGE has led President Donald Trump's effort to slash the federal workforce and cut spending.

May 01 - Argentina soybeans farmers notch biggest sales day of 2025
Argentina has recorded its largest single-day sales volumes for soybean so far in 2025, the country's Rosario grain exchange said on Wednesday, as the key grain transactions pick up after hitting their slowest pace in over a decade. Farmers in the South American agricultural powerhouse sold 230,000 metric tons of soybeans on Tuesday, the exchange said, after harvest delays caused by heavy rainfall and uncertainty over industry policies and exchange rates brought trading to its slowest pace in 11 years.

May 01 - South Korea’s NOFI buys about 65,000 T feed wheat, traders say
Leading South Korean animal feed maker Nonghyup Feed Inc. purchased about 65,000 metric tons of animal feed wheat in an international tender on Wednesday, European traders said. It was bought in one consignment at an estimated $254.27 a ton cost and freight included, plus a $1.50 a ton surcharge for additional port unloading.

Apr 30 - China's reliance on soybean imports continues despite cutback plans: Braun
China wants to reduce reliance on foreign soybeans, but importers apparently didn’t get the memo. To curb imports and increase national food security, the world’s top soybean buyer in recent years says it has made sizable cuts to soybean meal’s use in livestock feed.

Apr 30 - Jordan buys estimated 60,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house Al Dahra at an estimated $259.99 a ton cost and freight included for shipment in the second half of September, they said.

Apr 30 - South Korea’s MFG buys about 66,000 T corn, traders say
South Korea's Major Feedmill Group purchased an estimated 66,000 metric tons of animal feed corn to be sourced optionally from the United States, South America or South Africa in an international tender on Tuesday, European traders said. One consignment was bought at an estimated $252.33 a ton cost and freight plus an additional $1.50 a ton surcharge for additional port unloading.

Apr 29 - US and Mexico reach agreement on screwworm, Ag Secretary Rollins says
The United States and Mexico reached an agreement on the handling of a damaging pest called New World screwworm, U.S. Agriculture Secretary Brooke Rollins said on Monday, after she threatened to limit cattle imports from south of the border. Screwworm can infest livestock, wildlife and in rare cases, people. Maggots from screwworm flies burrow into the skin of living animals, causing serious and often fatal damage.

Apr 29 - China's Zhoushan port to see 48% jump in Brazilian soybean ships in April, state media reports
Around 40 Brazilian soybean ships are expected to have docked at China's Zhoushan port in April, up 48% from last year, a social media account affiliated with the state broadcaster reported on Monday, as China shuns U.S. suppliers in an escalating trade war. The account, Yuyuantantian, said the port is projected to unload a total of 700,000 metric tons of Brazilian soybeans this month, a 32% increase.

Apr 29 - Egypt buys 466,266 tons of wheat from local farmers, document shows
Egypt, often the world's top wheat importer, has bought 466,266 metric tons of wheat from local farmers since the procurement season officially started in mid-April, an official document showed on Monday. That is a fall of more than 37% from purchases made in the same period of last year.

Apr 28 - Cargill bullish on Brazil this year, to handle higher grain volumes, company president says
The Brazilian unit of U.S. grain trader Cargill expects to handle higher volumes of grains and other products in the South American country this year compared to 2024, Paulo Sousa, president of Cargill, said in an interview. The optimism expressed by Sousa reflects a record 2025 soybean harvest and beneficial weather for Brazil's second corn crop, which accounts for about 75% of national corn output in a given year.

Apr 28 - Panic in Pakistan as India vows to cut off water supply over Kashmir
For the first time, India on Wednesday suspended the World Bank-mediated Indus Waters Treaty of 1960 that ensures water for 80% of Pakistani farms, saying it would last until "Pakistan credibly and irrevocably abjures its support for cross-border terrorism". Government officials and experts on both sides say India cannot stop water flows immediately, because the treaty has allowed it to only build hydropower plants without significant storage or dams on the three rivers allocated to Pakistan. But things could start changing in a few months.

Apr 28 - Iraq to send 220,000 tons of wheat to Syria as a gift, Syrian state media says
Iraq will ship 220,000 tons of wheat to Syria as "a gift", Syrian media said on Friday, citing the director of the General Organization for Grains, adding that the first batch has already arrived in Syria's Deir el-Zor. Syria had bought about 100,000 tons of wheat in its previous tender reported on March 25, which was believed to be the first large purchase tender since the change of power in Syria late last year.

Apr 25 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· corn DAP Odessa, Ukraine, May @240$
· sunflower oil DAP Odessa, Ukraine Apr-May @1'130$
Crop 2025
· DAP corn Odessa, Ukraine, letter @...
· wheat 11.5pro DAP Odessa, Ukraine, Aug @...

- Ukraine
· Some farmers refrain from forward transactions in dollars, preferring payments in euros against the background of growing distrust of the American currency.
· As of 24.04 in Ukraine were sown: spring wheat - 200 thousand hectares, spring barley - 702 thousand hectares, corn - 705 thousand hectares, sunflower - 1236.8 thousand hectares, soybeans - 187.6 thousand hectares.

- World
· The EU has approved the import of three GM corn lines for use in food, feed and processing industries for 10 years.
· Trade tensions between the United States and China may drop after Trump’s statement that tariffs may be significantly reduced in the event of a deal.

- CORN
The EU's decision to permit the import of GMO corn opens the market for a wider supply from the United States and Brazil. This will create even greater pressure on Ukrainian suppliers, increasing competition for market share.
On the domestic market of Ukraine corn is traded more expensive than food wheat, which is atypical phenomenon. Prices are supported by an active demand from exporters and processors, as well as by a limited supply from farmers who are holding back sales in anticipation of further growth. The limited supplies of corn in the country strengthen price support and keep the tension in the market.
The price gap between the old and the new crop has already reached $34, which indicates the imbalance in the market.

- WHEAT
Approaching a new crop creates pressure on the prices of the old, restraining further growth.
The prices for a new crop for the week did not have significant. In the absence of weather or production risks for the future harvest, the prospects for further growth remain limited.
At FOB, 11.5% new-crop food wheat with a protein content is traded in the range of $220-230 per ton with delivery in July-August.

- SUNFLOWER
Demand from the processors remains high, which prompted some plants to raise the purchase prices for sunflower. At the same time, a significant market offer may contain further growth or even lead to correction. Currently, sunflower is traded in the range of 26'800-27'000 UAH with VAT for the oil content of 48%, depending on the region of delivery.
Sunflower oil in the ports of Odessa rose in a week and reached the level of 1130-1140$ DAP.

- RAPESEED
The demand of buyers for rape remains high, which supports the growth of prices for a new crop. At the same time, manufacturers are not in a hurry to conclude forward contracts, given the likely decline in production volumes - not only in Ukraine, but also in the EU, in particular due to spring frosts.

- SOYA
Trading activity in the domestic soybean market is low, as a result of which prices have not changed during the week. For GMO soybeans prices in ports of Odessa were 392-394$ under DAP conditions, for non-GMO - 435-440$ DAP.

Apr 25 - Crop Watch: Trade war jitters may add some corn acres - Braun
Back for their eighth edition, the U.S. Crop Watch producers are off to their quickest-ever start on planting their corn and soybean fields. However, trade conflicts with top U.S. soybean and sorghum buyer China have a couple of farmers adding a bit more corn than originally planned.

Apr 25 - Brazil to export more soy to China amid trade war, Abiove says
Brazil will export more soybeans to China and more soymeal to its main clients in Europe, the Middle East and Southeast Asia in 2025 amid the trade war between the United States and China, a director at industry group Abiove said on Thursday. A record soy harvest of nearly 170 million metric tons in Brazil will also contribute to the boost in shipments, Daniel Amaral, director of economics and regulatory affairs at Abiove, said.

Apr 25 - Iran bought about 60,000 tons of barley in tender this week, traders say
State-owned Iranian animal feed importer SLAL is believed to have purchased about 60,000 metric tons of animal feed barley in an international tender this week, European traders said. Separate tenders seeking up to 120,000 tons of animal feed corn, 120,000 tons of feed barley and 120,000 tons of soymeal had closed on April 21.

Apr 24 - Ukraine's once-booming grain industry teetering on being a war casualty: Braun
Ukraine’s grain crops are far from the world’s largest. In fact, the U.S. state of Iowa grows more than twice the amount of corn that Ukraine does in an average year. Still, Ukraine has established itself as a key global grain supplier due to its ability to export the majority of what it grows.

Apr 24 - India starts raising palm oil buying as prices fall below soyoil
India has started raising palm oil purchases after a lull of five months as a correction in prices has made the tropical oil cheaper than rival soyoil, encouraging refiners to place orders to replenish inventories, four dealers told Reuters. Higher purchases by India, the world's biggest buyer of palm oil, will support benchmark Malaysian palm oil futures, which have fallen nearly 10% so far in 2025.

Apr 24 - South Korean mills buy over 50,000 T wheat from US
A group of South Korean flour mills bought over 50,000 metric tons of milling wheat to be sourced from the United States in an international tender on Wednesday, European traders said. The purchase involved several different wheat types and was all bought on a free on board basis for shipment between June 1 and June 30.

Apr 24 - Jordan buys about 50,000 T feed barley in tender, traders say
Jordan's state grain buyer has purchased about 50,000 metric tons of animal feed barley in an international tender seeking up to 120,000 tons on Wednesday, European traders said. It was said to have been bought from trading house Solaris at an estimated $232.00 a ton cost and freight included to be shipped in the first half of August.

Apr 23 - Trump tariffs threaten to pile more pain on Thailand's rice sector
Thai farmer Daeng Donsingha was already worried for her family of nine when rice prices in the world's second-largest exporter of the staple crashed this year after India resumed exports. Now, she's also fretting over the tariffs unleashed by U.S. President Donald Trump, which could slash demand for Thai rice in its most valuable foreign market and create turmoil in an export industry worth billions of dollars.

Apr 23 - US FDA suspends milk quality tests amid workforce cuts
The Food and Drug Administration is suspending a quality control program for testing of fluid milk and other dairy products due to reduced capacity in its food safety and nutrition division, according to an internal email seen by Reuters. The suspension is another disruption to the nation's food safety programs after the termination and departure of 20,000 employees of the Department of Health and Human Services, which includes the FDA, as part of President Donald Trump's effort to shrink the federal workforce.

Apr 23 - Black Sea may hold back world wheat supplies into 2026: Braun
The global wheat market narrative has recently shifted, though it's easy to have missed it. Exportable world wheat supplies in 2024-25 are no longer expected to fall to multiyear lows, a perhaps predictable outcome based on recent patterns. But the relief could be temporary. Meager outlooks for the upcoming wheat harvests in Russia and Ukraine, which account for about 30% of global wheat exports, mean that the thinning supply story could reemerge for 2025-26, and potentially for real this time.

Apr 23 - Jordan buys estimated 60,000 metric tons of wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house CHS at an estimated $261.70 a ton cost and freight included for shipment in the second half of July, they said.

Apr 22 - Russian wheat exports are expected to be below average for the fourth consecutive month (SovEkon)

SovEkon estimates exports of Russian wheat in April at 2.0m tons, compared to 5.0m tons a year earlier and 3.5m tons on average over five years. Russia continues to export wheat at a below-average rate for the fourth consecutive month. Exports slowed due to low margins and weaker competitiveness of Russian wheat.

Sales of Russian wheat continue to slow. The volume of concluded contracts for the sale of wheat on Monday amounted to 1.1 million tons compared to 1.3 million tons a month earlier.

The competitiveness of Russian wheat has declined. Last week, Russian wheat with 12.5% protein was offered at $250-252/t FOB. At the same time, French wheat was offered at $244/t FOB, and wheat at the ports of Constanta, Varna and Burgas (CVB) at $248/t.

The main buyers of Russian wheat are likely to switch to other suppliers. The Algerian agency OAIC purchased 570-600 thousand tons of wheat of arbitrary origin at $267.5/t C&F. According to our estimates, Russian wheat was $2-3/t more expensive. Romania, Bulgaria, and Ukraine were likely to be suppliers.

With prices relatively high, export yields remain low. Exporters' margins since the end of last year have gone into negative territory against 5-10/t in autumn.

So far, SovEkon estimates exports in 2024/25 at 40.7 million tons. In April, the US Ministry of Agriculture estimated exports of Russian wheat at 44.0 million tons.

Exporters will continue to try to reduce purchase prices, which may be offset by the low availability of grain in major export regions.

Apr 22 - US farmers plant 12% of corn crop; winter wheat condition declines
U.S. farmers planted corn and soybeans faster than normal last week, U.S. Department of Agriculture data showed on Monday, as rains threatened to slow field work this week. Farmers planted 12% of the nation's corn crop by April 20, topping the five-year average of 10%, the USDA said in a weekly crop progress report.

Apr 22 - ADM closing soybean processing plant in Kershaw, South Carolina
Grains merchant Archer-Daniels-Midland will permanently close its soybean processing plant in Kershaw, South Carolina, later this spring as part of a cost-cutting and consolidation push announced earlier this year, the company confirmed to Reuters on Monday. ADM has been cutting jobs and downsizing some operations since it announced in February that it planned to cut costs by $500 million to $700 million over three to five years.

Apr 22 - Thai first-quarter rice exports fall 30% annually
Thailand's rice exports fell 30% annually in the first quarter of this year to 2.1 million metric tons, an industry association said on Monday. The decline was due to countries delaying buying decisions and India resuming rice exports, Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, told reporters.

Apr 21 - Japan considering soybean, rice concessions in US tariff talks, Yomiuri reports
Japan is considering increasing its soybean and rice imports as a concession in trade negotiations with the U.S. over President Donald Trump's sweeping tariffs, Japan's Yomiuri daily reported on Saturday. With Trump's trade offensive roiling markets and stoking recession fears, Japan is seeking to walk back his "reciprocal" tariffs and other duties imposed on Japan, along with dozens of countries.

Apr 21 - China's soybean imports from US jump in March, but Brazil set to dominate market
China's soybean imports from the United States rose 12% in March from the same period last year, as shipments secured in late 2024 by buyers concerned about the potential for a trade spat between the U.S. and China arrived in port. However, Brazil is expected to dominate the market in the coming months as its harvest season begins.

Apr 21 - First wheat shipment since Assad's ouster arrives in Syria's Latakia
A ship carrying wheat has arrived in Syria's Latakia port, the first delivery of its kind since former President Bashar al-Assad was ousted by rebels in December, the government said on Sunday. Officials of the new Islamist-led government say that while imports of wheat and other basics are not subject to U.S. and U.N. sanctions, challenges in securing financing for trade deals have deterred global suppliers from selling to Syria.

Apr 21 - Russia's March seaborne grain exports fell 58% to 2.3 million tons
Russia's seaborne grain exports dropped by 58% year-on-year in March, falling to 2.3 million metric tons, according to shipping data from industry sources released on Friday. Russia, the world's leading wheat exporter, shipped grain to global markets at a record pace during the first part of the 2024/25 marketing season, which began on July 1 of last year. However, the introduction of export quotas in February led to a sharp decline in exports.

Apr18 - Easter Holidays

There are lots of holidays this week and next due to Christian Easter holidays.
Some countries like Brazil are closed on both Friday 18 (Good Friday) and Monday 21 (Easter Monday). Here in France things are only closed on Monday.

Apr 18 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· corn DAP Odessa, Ukraine, May @237$
· sunflower oil DAP center. Latvia, apr-may @1'082€
Crop 2025
· DAP corn Odessa, Ukraine, Dec @...
· sunflower DAP factory, pd. Ukraine, heather-yellow @...

- Ukraine
· As of 17.04 in Ukraine were sown: spring wheat - 169.4 thousand hectares, spring barley - 656.2 thousand hectares, corn - 69.5 thousand hectares, sunflower - 192.5 thousand hectares, soybeans - 11.6 thousand hectares.
- Europe
· Imports of corn to the EU from 01.07 to 15.04 amounted to 16.5 million tons, which is 14% more than last year. Ukraine and Brazil declined to 57% and 9.8% (67% and 19% a year ago). In turn, the US share increased to 21% (0.8% a year ago).

- CORN
China continues to actively buy Brazilian corn, while Ukrainian interest remains low. In the current 24/25 MY (heather-ber) exports to this country is only about 120 thousand tons, which is 20 times less than last year. And so far, there are no signs of growth in demand due to the competitiveness of Brazilian corn.
In the domestic market, corn prices continue to rise against the background of active demand from buyers. During the week, prices for the old harvest in the ports of Odessa rose to 234-236 $/t DAP.
The new crop did not undergo changes - 204-206 $/t DAP ports.

- WHEAT
In the European market, customer activity decreased on the eve of Easter and long weekends.
The Ukrainian market, in its turn, demonstrates high activity in the segment of old-harvest wheat. The demand from buyers is focused mainly on food grain, which contributes to the growth of prices. Feed wheat remains less attractive. Against this background, the spread between food and fodder increased to 8-10$.
The new wheat crop is also in steady demand. In ports the price of wheat 11.5% was traded at 216-218$ on DAP conditions, feed wheat - 206-208$ DAP.

- SUNFLOWER
Prices for the new sunflower crop are currently in the range of 510-525 $/t with VAT, depending on the oil content and delivery region. Against the background of the expected growth of the harvest in the 2025 season, processing plants occupy a waiting position, focusing on the prospect of increasing margin in future processing. As a result, the purchasing activity remains low, which contributes to the accumulation of the delayed proposal for the new season.

- RAPESEED
The demand for rape of a new crop in the foreign market is growing. In the eastern and northern regions of Germany, purchases were intensified against the background of increased confidence of processors in the future harvest. Current prices for rape from 40% oil are formed at a discount of -7-10 euros to the August futures with delivery in August-September.

- SOYA
The global soybean market is under pressure from a large supply from the United States and South America, which hinders price dynamics. At the same time, prices remain stable on the Ukrainian market, although trade activity has decreased.

Apr 17 - More Japanese embracing foreign rice, even before it became a tariff topic
When a severe rice shortage sent prices skyrocketing in Japan last year, Tokyo restaurant owner Arata Hirano did what had once seemed unthinkable: he switched to an American variety. The price of the Californian Calrose rice he buys has doubled since his first purchase last summer, but even so it's far cheaper than home-grown grains. 

Apr 17 - Reality Check: Will adding fringe US corn acres drag down yield? - Braun
U.S. corn farmers this year are set to plant one of their biggest areas in history as the crop’s profitability potential is unusually strong versus alternative crops. Both high-yielding and low-yielding states are set to boost corn acres this year, leading some market participants to wonder if the lower-yielding states could weigh down national yield.

Apr 16 - Argentina bumper wheat harvest could hit record if export tax cuts extended
Argentina's major Buenos Aires grains exchange, already forecasting a bumper wheat crop, could raise its estimates even higher if a temporary export tax cut until the end of June is extended, the body's chief economist told Reuters on Tuesday. On the sidelines of an event to unveil the maiden forecast for 2025/26 wheat production, economist Ramiro Costa told Reuters that the current estimate of 20.5 million metric tons would go higher with an extended tax cut. 

Apr 16 - India's government, sugar industry face off over jute bags
In India, the world's largest consumer of sugar, the federal government and producers have locked horns in court over a contentious issue: jute bags. Prime Minister Narendra Modi's government has been tightening enforcement of a 1987 law, which obliges sugar mills to pack 20% of their supplies in jute bags or face fines for non-compliance, in a bid to support the traditional fibre industry.

Apr 15 - Argentina farmers focus on harvest over sales despite currency boost
Argentina's grain industry welcomed an exchange-rate overhaul on Monday, though the new measures will likely not translate into immediate sales as the harvest remains behind schedule, experts said. Late on Friday, Argentina's central bank loosened foreign-exchange controls, a long-awaited measure twinned with billions of dollars to be disbursed by development banks including the International Monetary Fund. 

Apr 15 - ADM halting domestic trading in China, cutting jobs in Shanghai
Global grain merchant Archer-Daniels-Midland has begun shutting down domestic trading operations in China and laying off staff within its largest business segment as part of a global cost-cutting push, the company said in an emailed statement on Monday. The move was meant to help ADM, a grains trading giant that has been embroiled in an accounting scandal since last year, "remain agile in a challenging environment," the company said in the statement.

Apr 14 - Bangladesh said to buy 50,000 T rice in March 27 tender, traders say
Bangladesh's state grains buyer is believed to have to purchased about 50,000 metric tons of rice in an international tender which closed on March 27, traders said on Friday. Traders said the purchase was made at an estimated $416.44 a metric ton CIF liner out, which was the lowest price offered in the tender.

Apr 14 - Patient corn bulls emerge victorious post tariff onslaught: Braun
After building immensely bullish bets, speculators in late February rode out Chicago corn’s worst downturn in over a year as the United States prepared to upend global trade. Most of those long positions were dumped during March as economic uncertainties intensified, and corn futures sank to three-month lows by the end of March. 

Apr 14 - Indian shrimp industry sails in troubled waters after Trump tariffs
Turbulence unleashed by President Donald Trump's tariffs could rock global shipments of shrimp to the United States, with exporters in biggest supplier India saying they endanger 2,000 containers packed with the frozen delicacy. But Ecuador, thousands of kilometres nearer to the United States faces a lower tariff rate and stands to benefit, the exporters say, as shrimp is its most important export after oil.

Apr 12 - Fismeal Comments & Prices: Peruvian "indication" (Hammersmith Report)
- It has been announced that the next North/Central fishing season in Peru will begin on April 22. No quota has been advised yet but the trade seems to feel that it will be at 2.4 million m/t. The new quota will be published on Apil 16.
- Fishing in the South of Peru has dropped off to almost nothing with only 2,900 m/t landed last week bringing the total catch up to 184,400 m/t which leaves 66,400 m/t available. Only about 10 vessels did any fishing last week.
- Fishmeal prices in China are stable even though fishmeal shipments from the USA will be hit by the latest China import tariff of 125%. Last year the USA shipped about 60,000 m/t of fishmeal to China. In the scheme of things, USA fishmeal shipments to China are not particularly significant and will be easily replaced from other origins.
- Advance fishmeal sales for th next fishing season are now reported to be at about 230,000 m/t which will be just over 40% of the next season’s production, assuming a quota of 2.4 million m/t.
- Fishmeal producer Exalmar has agreed to purchase Pesquera Centinela, which reports say could add as much as $500 million to Exalmar’s annual sales. Details of the agreement have not been published.

Apr 12 - Weekly USA Grain and Protein Report (Hammersmith report)

This week was another tariff week but this one was combined with a USDA-WASDE week ---- certainly made everything very exciting and painful for some.

USA corn prices were up by about USD 12 on the week with US soybeans up by USD 22 m/t and soymeal up by about USD 15 m/t. USA hard red winter wheat was up by USD 5 m/t while soft red winter wheat was up by almost USD 10 m/t. USA spring wheat was also up by about USD 10 m/t.
 
According to the WASDE report both corn and soybeans will have lower than expected USA and world stock levels which certainly helped to push prices higher as the week ended. Overall, the WASDE report was seen as bullish for about everything. The tariff related weakness in the US dollar also helped to push prices higher.

Although many of the new tariffs (above 10%) have been delayed for 90 days and the stock market has rushed to recover, there is still quite a bit of worry in the grain/oilseed business. China, where all the tariffs still apply, is a major buyer from the USA for corn, soybeans, sorghum and DDGS ---- exporters are now looking everywhere for alternative markets.

The USA/China trade tariff situation has created a great deal of confusion in the container freight market ---- China to US shipments are a large share of the container business and container lines are moving quickly to rearrange shipping schedules to reduce the China/USA – USA/China routings. Finding container freight for destinations from the USA that were serviced by routes that ended in China/Asia is difficult.

Apr 11 - US Wheat Weekly Market report ( US WHEAT )
•    Futures markets closed the week higher due to a weaker dollar and a 90-day pause on reciprocal tariffs. May 2025 CBOT soft red winter (SRW) increased 27 cents to $5.56/bu. May KCBT hard red winter (HRW) increased 11 cents to $5.68/bu. May MGEX hard red spring (HRS) rose by 31 cents to end at $6.15/bu. In other commodities, May CBOT corn increased 30 cents to $4.90/bu, and May CBOT soybeans jumped 66 cents to $10.43/bu.
 
•    Basis values remained stable to slightly lower this week in light of tariff developments and continuing U.S. trade uncertainty. Buyer interest has decreased due to heightened risk factors. Farmer sales have been low as spring fieldwork begins. Discounts for lower protein HRS wheat have been applied to help control the supply of low protein spring wheat in the market.
•    The first 2025 USDA Crop Progress report indicated that 48% of the winter wheat crop is in good to excellent condition, a decrease from 56% recorded last year.
•    The April 2025 WASDE report showed mild impacts. World ending stocks increased by 620,000 MT to 260.7 MMT, exports decreased by 1.25 MMT to 206.8 MMT, and demand dropped by 1.5 MMT to 805.2 MMT. In the U.S., estimated 2024//25 exports fell by 460,000 MT to 22.7 MMT, while ending stocks rose by 730,000 MT to 23.0 MMT, marking the highest level since 2020/21.
 
Commercial Sales
•    For the week ending April 3, net sales of 107,300 metric tons (MT) were registered for delivery in 2024/25. Total outstanding sales and accumulated exports of all wheat classes in 2024/25 are 21.3 million metric tons (MMT), which is 13% ahead of last year’s pace. For delivery in 2025/26 weekly sales totaled 107,700 MT and accumulated sales reached 1.2 MMT, a 24% decrease from last year. Sales have slowed as importers assess the risks associated with proposed Section 301 port fees on Chinese vessels. USDA projects total 2024/25 U.S. wheat exports to be 22.3 MMT, with current commitments accounting for 95% of the total projected exports.
 
•    Rain fell in wheat-growing areas of Kansas, Texas, Nebraska, and South Dakota this week, but more moisture is needed as the 2025 wheat crop develops. Cold temperatures in Kansas and Texas last week caused concern, but no frost damage was reported. Moisture levels in the PNW remain adequate.
 
•    Exporters are watching developments around the implementation of the Section 301 actions targeting the Chinese shipbuilding industry. Recent comments from the U.S. Trade Representative Jamison Greer suggested the office will take a closer look at the impacts on agricultural commodities, a potentially positive development.
•    On April 9th, U.S. reciprocal tariffs to most nations were delayed for 90 days. However, tariff conflict with China accelerated and baseline 10% tariff rates that took effect on April 5 will remain in place during this 90-day period.
•    Türkiye has resumed importing Russia wheat. Türkiye has imported 2.5 million metric tons of wheat from Russia this season.
 
Baltic and U.S. Dollar Indices
•    The Baltic Dry Index (BDI) ended the week lower at 1,274.
•    The U.S. Dollar Index closed at 100.2, the lowest level since April 2022. Decreased confidence in the dollar, recessions risks, and spiking Treasury yields contributed to the decline.

Apr 11 - Ukrainian Agri Weekly reports (SPIKE BROKERS)

Sold in a week
Crop 2024
· sunflower DAP center. Ukraine, April @26'200₴
· sunflower meal DAP border of Ukraine, grass @247$
· sunflower oil DAP border of Ukraine, herbs @1'037€
· sunflower oil DAP Odessa, Ukraine, Apr-May @1'105$
Crop 2025
· corn DAP Odessa, Ukraine, Oct @...
· Oct FCA border Ukraine, Oct-Dec @...

- World
· Trump reduced customs tariffs for all countries to 10% for 90 days, but at the same time increased pressure on China, raising tariffs to 125% in response to Chinese duties of 84%.
· The EU postponed the imposition of import duties on American goods, which were to come into force on April 15, for 90 days.

- CORN
Prices for corn in the domestic market resumed growth. Over the past week, prices for old harvests have risen to 228-230 $/t DAP ports. Demand from traders increased against the background of the need to close previously concluded contracts, which led to an increase in their purchasing activity.
Corn of the new crop also grew and traded at levels of 204-206 $/t DAP ports.

Recent customer indicators, harvest 2025:
· DAP Ukraine (Odessa) ~204-206$
· DAP Germany (Mon-Fri) ~208-210€
· DAP Netherlands (pd) ~210-213€

- WHEAT
In the wheat market, there is an increase in prices for grain of the old crop. The most actively expensive food wheat -  because of the extremely low stocks, demand for it has increased markedly. For quality grain there is competition between traders and processors. Prices for feed wheat are also growing, but not so active.
The prices of our harvest did not undergo significant changes. Wheat of 11.5% was traded at 214-216$ DAP ports, feed wheat - 202-204$ DAP.

- SUNFLOWER
The decrease in the cost of sunflower oil in the world market caused the fall in sunflower prices in Ukraine. Over the past week, prices have decreased by an average of 500-700 UAH/t. Additional pressure also makes the fact that most processors are already supplied with raw materials by the end of April.
In the spot market sunflower oil decreased to 1105-1115 $/t DAP port.
In recent weeks, the market has changed its direction several times - from growth to fall - which increases the feeling of instability.

Recent customer indicators, harvest 2025:
· DAP Ukraine (factory) 48% ~520-535$ incl. VAT

- RAPESEED
April frosts in Eastern Europe and directly in Ukraine cause concern among rapeseed producers, because they could negatively affect the condition of crops, thereby causing uncertainty about the potential yield.

Recent customer indicators, harvest 2025:
· DAP Ukraine (Odessa) ~475-485$

- SOYA
There is a price discrepancy in the soybean market. In ports prices remain stable, while processors increase purchasing prices due to high demand, in particular, for GMO soybeans.

Apr 11 - US corn inventories poised to tighten as exports increase, USDA saysU.S. corn inventories will be tighter than previously expected before the next harvest, the U.S. Department of Agriculture said on Thursday, as it projected larger exports. Grain farmers and traders worry that U.S. President Donald Trump's tariff disputes could hurt demand for American farm products, though corn exports have been strong this year.  

Apr 10 - Strike halts grain ship traffic at Argentina's Rosario ports
Grain and agro-industrial products ships will be unable to dock or leave Argentina's Rosario agro-port hub on Thursday because of a CGT union strike against government policies, the head of the private port chamber CAPyM said. "We will not be able to dock and moor the ships," Guillermo Wade, manager of the Chamber of Port and Maritime Activities, told Reuters, citing the strike by the Maritime Workers Union and the river navigators' union.

Apr 10 - Wave of US soybeans set to reach China's shores despite tariffs
China is set to receive about 3 million metric tons of U.S. soybeans in April-May, according to sources and shipping data, despite new higher tariffs on American products that are poised to choke off flows of China's largest U.S. farm import item. Most of the cargoes were purchased by state stockpiler Sinograin, said four sources familiar with the matter, which, they said, is likely to pay the higher duties but may nonetheless have to sell at a discount locally amid competition from cheaper beans from Brazil, the world's biggest grower. 

Apr 10 - EU tariffs to curb US corn imports, soy at lower risk for now
European Union counter-tariffs on U.S. goods starting next week are set to halt a large flow of U.S. corn to Europe and raise costs for buyers chasing alternative supplies of the feed grain, traders and industry representatives said. Grain market reaction has been restrained so far with traders unsure if a barrage of tariffs, including tit-for-tat U.S. and Chinese duties, will stay in place or be removed following negotiations.

Apr 09 - Brazil protesters lift blockade of Amazon grain shipping route
Brazilian indigenous protesters have lifted a blockade of the Trans-Amazonian Highway, reopening a critical grain shipping route linking farmers to the Miritituba river port, traders association Abiove and a toll road operator said on Tuesday. Munduruku indigenous activists intermittently shut down the road, also known as the BR-230, beginning on March 25 to put pressure on Brazil's Supreme Court to overturn a 2023 law limiting indigenous land rights.

Apr 09 - Hailstorm hits Russia's third-largest wheat producing region
A strong hailstorm hit Russia's third-largest wheat-producing region of Stavropol, damaging grain crops, a local governor said on Tuesday, as extreme weather swept across Russia in early April, bringing snowstorms and sub-zero temperatures. The Stavropol region accounted for about 8% of Russia's 82.6 million-metric-ton wheat harvest in 2024, when crops were hit by bad weather from early spring frosts to severe drought in many grain-producing regions. 

Apr 09 - China boosts Indian rapeseed meal purchases after tariff on Canadian imports
China has bought 52,000 tons of Indian rapeseed meal in the past three weeks - four times the amount Beijing imported from India in the whole of 2024 - after Chinese authorities imposed a 100% retaliatory tariff on Canadian imports, industry sources said. India's rapeseed meal exports will help China, the world's top consumer, replace imports from Canada while easing pressure on local rapeseed prices in India, which is sitting on large stockpiles of the widely used animal feed.

Apr 08 - Soybeans wait in the wings while US, China exchange blows: Braun
U.S.-China Trade War 2.0 is heating up and soybeans, China’s top U.S. import, are in the crosshairs once again. But the soybean battle may be lackluster right now because of how little trade is done at this time of year and how few U.S. cargoes are left to ship to China this season.

Apr 08 - USDA rates 48% of US winter wheat good-excellent, corn 2% seeded
The U.S. Department of Agriculture on Monday rated 48% of the U.S. winter wheat crop in good-to-excellent condition, above analyst expectations but down from 56% at this time a year ago. Wheat ratings in the first weekly crop progress report of the 2025 growing season have deteriorated since the USDA released its last national report before the winter.  

Apr 08 - Brazil's second corn crop prospects improve on rains, AgRural says
Showers last week and forecasts of more rain throughout April brought relief to second corn crop farmers in Brazil, according to an agribusiness consultancy and a weather forecaster. The main corn-producing areas started to receive showers this week, agrometeorologist Marco Antonio dos Santos said on Monday, adding the timing is good for growing plants.

Apr 07 - Ukraine Crop-25 bids

Wheat :
- $201/210/213 DAP POC for feed/11.5/12.5 Jul-Aug, nearby firm offers are welcome.
Seller feed $220 FOB POC Jul/Aug vs. $215
Seller 11.5% $230 FOB POC Aug vs. ncb
Seller 11.5% MU-2 FOB CVB vs. MU-7 Aug
- The port line-up: a couple more vessels arrived on the roads over the weekend. The current line-up is at 251Kmt: Algeria 101, Egypt 53, Bangladesh 50, Turkey 31, Italy 16.

Corn :
- DAP POC bid levels are within $225 for Apr/May. FOB POC buyers indicate $234/5 Apr/May vs. sellers $2-3 higher.
New crop stable:
seller OND FOB POC CZ120 vs. CZ90
seller OND FOB CVB CZ130 vs. CZ110
Port lineup is higher at 416Kmt: Egypt 112, Spain 83, Turkey 80, Netherlands 67, Italy 36, Libya 33, Greece 4.

Apr 07 - China retaliation on US farm goods hits soybeans, bolstering Brazil
China's retaliation on Friday against new U.S. tariffs is poised to accelerate Beijing's move towards alternative suppliers for agricultural goods including Brazil, a shift that began during the trade war of U.S. President Donald Trump's first term. Beijing unveiled a slew of countermeasures, including additional duties of 34% on all U.S. goods, which are on top of the 10-15% tariffs placed on roughly $21 billion worth of agricultural trade in early March.

Apr 07 - Tariffs throw US, Canadian farm machinery manufacturers into turmoil
All around a recent farm show in Canada, equipment salespeople struggled to swing deals with farmers worried about tariffs. With some combines costing more than $800,000, a surprise price hike from a tariff would be a hit most farm budgets cannot easily take.

Apr 05 - Weekly USA Grain and Protein Report (  Hammersmith Reports )

- Tariff, tariff, tariff – once again import tariffs from the USA and reciprocal tariffs from other countries are setting the market tone for the week. China has reacted very strongly to USA tariffs while both the EU and the UK are holding back on any tariffs in the hopes that there is some negotiation room with the US. The UK is pleased to only have 10% tariffs while the EU is certainly not happy with 20% tariffs. It is expected that there will be lots of discussion next week but will the US actually negotiate --- time will tell.
- USA corn prices were almost unchanged at the end of the week – perhaps down by USD 1 or 2 m/t. US soybeans prices dropped by about USD 15 m/t in the week with soymeal down by about USD 10 m/t. USA wheat prices, like corn, were almost unchanged at the end of the week – perhaps down by USD 1 or 2 m/t.
- Soybean prices were hit hard by the 34% reciprocal tariff added by China on US goods which will certainly price US soybeans out of the China market --- the same is expected for US sorghum which has seen China as a major buyer.
- There were comments in trade reports that US corn and soybean exports cannot be ignored by importing countries, even with possible reciprocal tariffs, as there may not be sufficient supplies available from Argentina, Brazil and the Black Sea to meet demand for the next few months.
- EU Trade Ministries are meeting next week to discuss the USA tariffs and to mull over what reaction to take. The EU may not be able to add tariffs to many US items --- like corn, soybeans, soymeal, DDGS ---- since these items are needed in the EU.  Difficult decisions to be made in coming days.

Apr 05 - Fishmeal comments : Peruvian indicative Fishmeal Prices ( Hammersmith Reports )

- Fishing in the South region of Peru has fallen off to almost nothing. Total catch is now at about 177,000 m/t --- 39,350 m/t fishmeal and 3,600 m/t fish oil. About 74,000 m/t remaining on the fishing quota for the South. However, as pointed out by MSI Ceres in their weekly report, the catch in the South is the highest percentage of quota landed since at least 2015.
- Trade reports say that the IMARPE Cruise is looking more positive with recent results suggesting that spawning is about over. The Cruise is expected to finish this week with results soon and perhaps a new fishing season before the end of April or early May at the latest.
- Presales of fishmeal are reported to be at about 230,000 m/t.
- The closer that we get to the new season the more flexible fishmeal prices become since everyone seems to be anticipating another very good fishing season.
- One more note, it is not expected that the new USA/Trump tariffs will have any effect on fishmeal/fish oil exports.

Apr 05 - Markets on the verge of a nervous breakdown
This week was tough for financial markets. Major indices took a nosedive after Donald Trump unveiled "reciprocal" tariffs that were much higher than anyone anticipated. The baseline is a 10% tariff, but some nations are feeling the heat far more. China is staring down the barrel of a whopping 54% in customs duties, Vietnam isn't far behind at 46%, and the European Union, by comparison, is getting off with a "slap on the wrist" at 20%. Volatility is the name of the game as risk aversion makes a dramatic comeback. Just when you thought it couldn't get any more chaotic, China decided to throw its hat into the tariff ring, announcing a 34% levy on U.S. products this Friday. The trade war isn't just a looming threat; it's here, and it's shaking up the markets with gusto.

Apr 04 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· DAP corn Odessa, Ukraine, April @227$
· sunflower meal DAP border of Ukraine, Apr @239$

- Ukraine
· Exports from Ukraine of cereals, oilseeds and their products in March amounted to: corn - 2 391 thousand tons, wheat - 1 129 thousand tons, barley - 68.6 thousand tons, soybeans 369.1 - thousand tons, rape - 32.4 thousand tons, sunflower - 24.1 thousand tons, sunflower oil - 440.7 thousand tons, soybean oil - 53.8 thousand tons, cake (soybean and sunflower) - 493.4 thousand tons.
· As of 03.04 in Ukraine were sown: spring wheat - 116.5 thousand hectares, spring barley - 551.8 thousand hectares, sunflower - 33 thousand hectares, soybeans - 2.6 thousand hectares

- USA
· The United States introduces a 10% base fee for all trading partners, except Canada and Mexico, and for individual countries, the duties will increase to 40%.

- CORN
The fall in corn futures on the Matif exchange caused a decline in prices in the external physical market, which presses both on the old and new crop.
On the Ukrainian market, corn continued to fall in price under the influence of high domestic supply. In the ports of Odessa, corn was traded in the range of 224-226 $/t under DAP conditions, while on the western border prices were 200-202 €/t FCA.
At the same time, the new crop did not undergo significant changes and was traded at 200-204 $/t DAP.

Recent customer indicators, harvest 2025:
· DAP Ukraine (Odessa) ~200-204$
· DAP Germany (Mon-Fri) ~205-208€
· DAP Netherlands (pd) ~217-219€

- WHEAT
After a significant decline in prices last week, the market is stabilized in the segment of food wheat. At the same time, the feed grain shows a further decline in prices, albeit insignificant.
The new crop continues to be actively digested, which has had a positive effect on prices. The spread between the old and the new crop is narrowed, emphasizing the increase in buyers' interest in the grain of the future crop. In the ports of Odessa, wheat of 11.5% was traded at 213-215$ on DAP terms, feed wheat - 203-205$ DAP.

Recent customer indicators, harvest 2025:
· DAP Ukraine (Odessa) 12.5pro ~216-218$
· DAP Ukraine (Odessa) 11.5pro ~213-215$
· DAP Ukraine (Odessa) fodder ~203-205$
· DAP Germany (Mon-Sun) trucks ~206-208€
· DAP Netherlands (pd) trucks ~204-206€

- SUNFLOWER
At the beginning of the week, sunflower prices continued to decline as processors are supplied with raw materials for the coming periods. However, by mid-week the market had turned around and prices began to rise. The main driver was an increase in demand and oil prices, which caused a rise in price of raw materials.
Sunflower oil in the ports of Odessa increased by an average of $ 10-15 per week and was traded at levels of $ 1135-1140 / t DAP.
The award for sunflower on average is 6000 UAH relative to the price of the classic.
The latest displays of buyers for sunflower:
· DAP Ukraine (factory) 48% ~560-580$
Recent customer indications for oil:
· DAP Ukraine (Odessa) ~1'135-1'140$
· DAP Ukraine (border) ~1'135-1'140$

- RAPESEED
Expected frosts in Ukraine in the coming days pose risks for winter rape, which may limit its future supply and affect the market. Against the background of these uncertainties, buyers stepped up forward purchases of the new crop, resulting in prices for the new crop increased.

- SOYA
The growth of demand against the background of low supply in the domestic market contributes to higher prices. Especially high demand is observed by processors who experience a shortage of raw materials.
In the ports of Odessa the price for soybeans GMOs was 388-392$ on terms of DAP, for non-GMOs - 435-440$ DAP.

Apr 04 - US egg imports meant to drive prices down could be hit by tariffs
U.S. President Donald Trump's new tariffs could apply to eggs being imported to ease a supply shortage, Agriculture Secretary Brooke Rollins said on Thursday, a move that industry experts said could boost prices just as they have started to decline from record highs. Rollins said in a Fox News interview that tariffs on egg imports were possible and negotiations with affected countries were ongoing. 

Apr 04 - Ukraine's corn could benefit from US tariffs, analyst says
Ukrainian corn, a key element in the country's grain sector, could benefit from the tariffs imposed by the U.S., as it is able to partially substitute for U.S. corn if retaliatory sanctions are imposed, analysts said on Thursday. U.S. President Donald Trump announced a 10% minimum tariff on most imports, with significantly higher duties on goods from dozens of countries including China, which is likely to prompt countermeasures potentially driving up prices and reducing demand for U.S. goods.

Apr 03 - Ukraine's Jan-Feb grain exports through Romania's Constanta drop to 226,000 tons
Ukraine shipped 226,000 metric tons of grain through the Romanian Black Sea port of Constanta in the first two months of the year, down sharply from 1.33 million tons in the same period last year, the port authority said on Wednesday. The drop reflects Kyiv's reliance on its own ports despite Russian attacks on shipping and infrastructure, though Constanta remains Ukraine's main alternative export route for grains since Russia launched its full-scale invasion in February 2022. 

Apr 03 - By the numbers: The erosion of US grain export dominance: Braun
The United States was once the world’s breadbasket, commanding global grain and oilseed trade by a wide margin. The country still leads in corn exports. That title, however, has recently been threatened by Brazil, the same party that demoted U.S. soybean exporters to the No. 2 spot.

Apr 02 - China says beef imports investigation will be fair
China said it would deliver a "fair and objective" ruling following a hearing in its ongoing investigation into beef imports that could lead to higher tariffs or import limits if it finds domestic producers are at risk. China is the world's largest beef consumer and importer, and its investigation coincides with a trade dispute with U.S. President Donald Trump, who is set to announce reciprocal tariffs on Wednesday after Washington and Beijing hit each other with tit-for-tat tariffs in March. 

Apr 02 - Australia to 'stand up for national interests' on US tariffs, says PM Albanese
Australian Prime Minister Anthony Albanese and his rival in a May election, Liberal Party leader Peter Dutton, said they would stand up for the country's national interests in the face of looming U.S. tariffs that could hit Australian beef. Australia has a trade surplus with the United States, and a free trade agreement that allows duty-free entry for U.S. exports.

Apr 01 - Grain traders ask Ukraine to suspend price mechanism changes, say exports at risk
Ukraine's grain traders union UGA said on Monday it and the UAC agrarian producers union had demanded that the government suspend additions to the mechanism for determining minimum export prices, warning that the changes could halt exports."An artificial ban on price reductions ignores market realities and threatens Ukraine's ability to conclude export contracts," it noted. 

Apr 01 - Syria issues tender to buy 100,000 metric tons of milling wheat, traders say
A state grains buyer in Syria has issued an international tender to purchase about 100,000 metric tons of milling wheat, European traders said on Sunday. The deadline for the submission of price offers is believed to be April 28.

Apr 01 - USDA February soy crush seen at 188.7 million bushels, analysts say
The U.S. soybean crush likely dropped in February to 5.662 million short tons, or 188.7 million bushels, according to analysts surveyed by Reuters ahead of a monthly U.S. Department of Agriculture report due on Tuesday. If the average of eight analyst estimates is realized, it would be down 11.2% from the 212.5 million bushels crushed in January and down 2.4% from the 193.4 million bushels crushed in February last year, which was a day longer due to the leap year.

Mar 28 - US beef sales to China skid after Beijing lets export registrations lapse
U.S. beef sales to China have taken a dive, U.S. government data showed on Thursday, after Beijing allowed the expiration of registrations that had permitted exports from hundreds of American meat facilities. A tit-for-tat tariff dispute has also raised duties on U.S. meat and other goods shipped to China, making the products less attractive to Chinese buyers. The spat adds new strains to relations between the countries that had already reached historic lows in recent years. 

Mar 28 - Coming to a store near you: double-digit coffee price hikes
If your favourite coffee beans have vanished from the shelves, don't worry - they will return soon. The bad news is they will be up to 25% more expensive. Roasters such as Lavazza, Illy, Nestle and Douwe Egberts maker JDE Peet's are currently in talks with retailers about passing on costs from a near doubling of arabica coffee prices over the past year, according to eight industry sources.

Mar 27 - Black Sea deal unlikely to boost Russian food exports in short-term
A potential deal to ease restrictions on Russia's access to international agricultural markets, touted by Washington and Moscow as a boon for global food security, is unlikely to have much immediate impact, analysts and industry sources said on Wednesday. But the U.S.-brokered agreement, if it happens, could advance President Vladimir Putin's longer-term ambitions of positioning Russia as an agricultural superpower and secure a much-needed boost in foreign exchange revenues.  

Mar 27 - USDA's 'March Madness' will be no slam dunk for grain analysts: Braun
The drama is upon us. We're not talking about college basketball, but rather the incoming U.S. grain stocks and acreage data that is just as notorious for "upsets" to the general consensus. Although it is the most hotly discussed item set to appear in Monday’s reports from the U.S. Department of Agriculture, U.S. corn planting intentions have without a doubt been the most difficult to predict in recent years.

Mar 26 - Export prices for Ukrainian corn are declining now after a period of strong growth (APK-Inform)

According to APK-Inform, since the start of the current week, demand prices for feed corn at Ukrainian ports have been declining, after a recent period of strong growth.
This trend was driven by a decrease in demand amid consistently high prices, which reduced the competitiveness of this crop. At the same time, farmers were not actively selling at lower prices and were waiting for a reversal. Additionally, downward price trends on external markets added pressure on prices.
As a result, in the ports of Greater Odesa and the Danube, demand prices for feed corn have decreased by an average of 2 USD/ton, and as of March 26, 2025, they are quoted in the ranges of 224-231 and 225-232 USD/ton CPT-port, respectively.

Mar 25 - US turns to Brazil for eggs and considers other sources during bird flu outbreak
The U.S. has almost doubled imports of Brazilian eggs once used only for pet food and is considering relaxing regulations for eggs laid by chickens raised for meat, as President Donald Trump's administration seeks to bring down sky-high prices spiked by bird flu. While none of the Brazilian or broiler chicken eggs would wind up on grocery shelves, they could be used in processed foods such as cake mixes, ice cream or salad dressing, freeing up more fresh eggs for shoppers. 

Mar 25 - Weekly USDA wheat ratings improve in Kansas; Oklahoma ratings slide
The U.S. Department of Agriculture in a weekly crop report on Monday rated 49% of the winter wheat in top producer Kansas was in "good to excellent" condition, up 1 percentage point from the previous week, but ratings fell in Oklahoma as wind-whipped soils lost moisture. The USDA rated 37% of Oklahoma's winter wheat as "good to excellent", down 9 percentage points from last week.

Mar 24 - India to start new sugar season with ample stocks, says producers' body
India is likely to start the new sugar season in October with comfortable opening stocks, despite lower-than-expected production in the current season and exports of 1 million tons, a leading producers' body said on Thursday. The world's second-biggest sugar producer allowed mills to export 1 million metric tons of the sweetener in January during the current season to September 2025, as both the government and the industry believed there was a surplus for overseas markets. 

Mar 24 - Funds extend Chicago corn selloff as tariff deadline looms: Braun
After building super-bullish bets a few weeks ago, speculators have swiftly ducked back from the Chicago corn market with geopolitical risks still very much in focus. The United States plans to impose sweeping reciprocal tariffs on multiple trade partners on April 2. Pivotal but often-unpredictable U.S. planting survey results are set to land on March 31, and these upcoming events have investors in risk-off mode.

Mar 21 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· corn DAP Odessa, Ukraine, birch-flower @230$->231$
· feed wheat DAP Odessa, Ukraine, Apr-May @232.5$
· soybean GMO DAP Odessa, Ukraine, birch-flower @394.5$
· sunflower high oleic DAP Odessa, Ukraine, birch-flower @32ʼ800₴

Crop 2025
· corn DAP Odessa, Ukraine, letter @206$

- Ukraine
· As of 20.03 spring crops were sown in Ukraine: wheat - 36.7 thousand ha, barley - 133.5 thousand ha.
· The weather fluctuations in February and March did not cause significant damage to the crops of winter cereals in Ukraine - most of them are in satisfactory condition.

- World
· Turkey has set a quota for the import of 1 million tons of corn with reduced tariffs by the end of June. This decision is expected to increase demand from Ukraine and Romania - the leading exporters of this crop from the Black Sea region, supporting exports and prices on the world market.
· IGC estimates the production of grain and oilseeds in 25/26 MY: wheat - 807 million tons (against 799 million tons in 24/25 MY), corn - 1269 million tons (1217 million tons), soybeans - 427 million tons (418 million tons).

- CORN
The corn market continues to grow rapidly. During the week, prices in Ukrainian ports have risen by an average of 8-10$. The increase in the supply of grain crops could not slow down this growth, because the high demand both in the domestic market and from external buyers creates price pressure. In the ports of Odessa, corn was traded at a price of 229-232 $/t DAP, and on the western border — 214-216 €/t FCA.
Corn of the new crop also started to be more actively traded. Its value at the port is 204-206 $/t DAP.

Crop 2025
· DAP Ukraine (Odessa) ~204-206$
· DAP Germany (Mon-Fri) ~218-220€
· DAP Netherlands (pd) ~215-217€

- WHEAT
The internal market demonstrates dynamic growth. Low food wheat stocks limit the supply, supporting price increases, and the rise in price of corn, which competes with forage wheat in the feed market, further stimulates the growth of the value of forage grain.
The demand for feed wheat of the new crop is growing in the European market. For Germany, prices are 216-219 €/t DAP, for the Netherlands 212-215 €/t DAP.

Crop 2025
· DAP Ukraine (Odessa) 12.5pro ~218-220$
· DAP Ukraine (Odessa) 11.5pro ~215-217$
· DAP Ukraine (Odessa) fodder ~205-208$
· DAP Germany (Mon-Sun) trucks ~216-219€
· DAP Netherlands (pd) trucks ~212-215€

- SUNFLOWER
The increase in the cost of sunflower oil in the world markets over the past week by 25$ caused the price of sunflower in Ukraine to increase. Strengthening the hryvnia could not hold back this growth - the prices of sunflower rose by 600-800 UAH/t. This is due to high demand from processors under limited supply, as farmers restrain sales of sunflower.
In the spot market sunflower oil was traded in the range of 1140-1145 $/t DAP port, and granulated sunflower meal - 230-235 $/t DAP port.
At the same time, the plants are already more actively contracting a new crop of sunflower, offering $ 550/t of VAT per batch with 46% oil content on DAP ports.

- SOYA
Limited supply on the market has led to a slight increase in soybeans prices. The demand from buyers is present, but they are not ready to significantly increase prices, as world soybean quotes remain at the minimum levels.

Mar 21 - By the numbers: Stacking up US farm imports and exports -Braun
Countries typically import products when domestic demand exceeds domestic production, or if domestic production is non-existent. But what the United States exports differs widely from what it imports, and it is important to examine those trends to understand where opportunities or threats may lie for U.S. producers. 

Mar 21 - IGC sees rise in global corn production in 2025/26
The International Grains Council on Thursday forecast a rise in global corn production in the 2025/26 season with larger crops seen in the United States, Brazil, Argentina and Ukraine. The intergovernmental body, in its monthly update, projected there would be a global corn crop of 1.269 billion metric tons, up from 1.217 billion in the previous season.

Mar 20 - Proposed US port fees on China-built ships begins choking coal, agriculture exports
President Donald Trump's plan to revive U.S. shipbuilding using massive fees on China-linked ship visits to American ports is causing U.S. coal inventories to swell and stoking uncertainty in the embattled agriculture market, as exporters struggle to find ships to send goods abroad. Trump is drafting an executive order that would rely on funding from a U.S. Trade Representative proposal to levy fines of up to $1.5 million on China-made ships or vessels from fleets that include ships made in China.  

Mar 20 - Chicago corn prices set to challenge decades-long streaks: Braun
If the recent tariff-fueled selloff in Chicago corn futures felt extreme, that’s because it was, especially given the season. Huge swings in new-crop corn prices are not typically seen in the beginning months of the year due to upcoming harvest uncertainties across the Americas.

Mar 19 - CME Group to launch European rapeseed oil futures
Financial markets operator CME Group said on Tuesday that it plans to launch cash-settled futures for European rapeseed oil next month, using an Argus Media index for Dutch prices. The new product will start trading on April 28, subject to regulatory approval, through CME's Chicago Board of Trade exchange, the company said in a notice on its website. 

Mar 19 - EU 2024/25 soybean imports up 7% by March 16, rapeseed up 15%
European Union soybean imports for the 2024/25 season, which began in July, had reached 9.6 million metric tons by March 16, up 7% from the same period a year earlier, according to data published by the European Commission. EU rapeseed imports in the same period totalled 4.75 million tons, up 15% year-on-year Meanwhile, soymeal imports were up 27% to 13.36 million tons.

Mar 18 - China renews export registrations for US pork, poultry plants, industry groups say
Beijing has renewed registrations that allow hundreds of U.S. pork and poultry facilities to export to China, industry groups said on Monday, after lapses threatened shipments to the world's largest meat importer. Chinese customs website showed that registrations were renewed until 2030, but those for hundreds of U.S. beef facilities remain listed as "expired".

Mar 18 - US reports first outbreak of deadly H7N9 bird flu since 2017
The United States reported the first outbreak of the deadly H7N9 bird flu on a poultry farm since 2017, as the country continues to grapple with another bird flu strain that has infected humans and caused egg prices to hit record highs. The spread of avian influenza, commonly called bird flu, has ravaged flocks around the world, disrupting supply and fuelling higher food prices.

Mar 17 - China access for hundreds of US meat exporters in doubt as Trump 1.0 deal nears end
Hundreds of U.S. meat plants granted access to China in a 2020 "Phase 1" trade deal with President Donald Trump are set to lose export eligibility on Sunday, threatening roughly $5 billion in trade to the world's largest meat market amid a renewed trade war. 

Mar 17 - Brazil domestic corn prices rise on low initial inventories, strong demand
Brazilian corn prices closed up by around 2% this week, hitting close to 90 reais per 60-kilogram bag in the region of Campinas, according to the widely followed Cepea indicator on Friday. This is the highest nominal level since April 2022.

Mar 14 - What's behind the clashing ideas over Brazil's shrinking corn stocks?: Braun
According to its own statistics agency, Brazil’s corn supplies as of a few weeks ago hit the lowest levels in at least a quarter-century. But the U.S. Department of Agriculture does not expect a scenario like that to unfold until early next year.

Mar 14 - China set for rapeseed meal shortage after 100% duty on top supplier Canada
China is likely to face a supply shortage of rapeseed meal by the third quarter of this year as Beijing's tariffs on shipments from top exporter Canada disrupt trade and as alternative sources are unlikely to make up the deficit. Rapeseed meal futures traded on the Zhengzhou Commodity Exchange have jumped more than 8% since Beijing announced on Saturday a 100% retaliatory tariff on imports of rapeseed meal and oil from Canada effective March 20.

Mar 14 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· corn DAP Odessa, Ukraine, birch-flower @224$->226$
Crop 2025
· corn DAP Odessa, Ukraine, letter @203$

- Ukraine
· Spring crops were sown in Ukraine. As of 13.03 spring crops were sown in Ukraine: wheat - 12.9 thousand ha, barley - 45.2 thousand ha.
· USDA updated in March data on grain and oilseeds crops in Ukraine: wheat - 23.4 million tons (preliminary assessment - 22.9 million tons), corn - 26.8 million tons (25.5 million tons), barley - 5.8 million tons (5.9 million tons), soybeans - 7 million tons (6.6 million tons), rape - 3.8 million tons (3.75 million tons), sunflower - 13.4 million tons (12.9 million tons).

- World
· The EU introduces counter duties on goods from the United States. While cereals and oilseeds are not limited, but if the States in April introduce 25% of the customs duty on all goods from the EU, Brussels will respond in a similar way, which will complicate the export of corn and soybeans and aggravate trade confrontation.
· The strike by workers at processing plants in Argentina due to the dismissal has led to a halt in soybean processing, which can adversely affect the export of soybean products.

- CORN
Prices for corn began to recover. In foreign markets, there is a positive dynamics, increasing trade activity and demand.
In the domestic market, liquidity remains low, high demand and limited supply contribute to the rise in price of old harvest corn. For a week, prices in the ports of Odessa increased by an average of 4-6$. At the same time, corn of the new crop was traded at 200-202$ depending on the delivery period.

Crop 2025
· DAP Ukraine (Odessa) ~200-202$
· DAP Germany (Mon-Fri) ~213-215€
· DAP Netherlands (pd) ~215-217€
· FCA Ukraine (border) ~182-185€

- WHEAT
After a sharp fall last week, wheat prices began to recover and are growing rapidly. Exporters show particular interest in food wheat. At the same time, a significant part of the grain of this quality was actively sold to the domestic market to processors, which now leads to a significant deficit for export.

Crop 2025
· DAP Ukraine (Odessa) 12.5pro ~213-215$
· DAP Ukraine (Odessa) 11.5pro ~211-213$
· DAP Ukraine (Odessa) fodder ~201-203$
· DAP Germany (Mon-Sun) trucks ~213-215€
· DAP Netherlands (pd) trucks ~212-214€

- SUNFLOWER
Demand for sunflower from European processors is weakening, especially in Bulgaria. Due to the lack of both local raw materials and imported directly from Ukraine, the plants are forced to switch to rape processing and increase its supplies.
In the Ukrainian market, sunflower prices rose under the influence of high demand from processors caused by unmet needs. Limited supply provided additional support to the growth - farmers restrain sales in anticipation of better prices. Classic sunflower was traded in the range of 26200-27000 UAH depending on the region and quality. At the same time, the premium for HE sunflower has increased to 6000 UAH relative to the price of the classical one.

- SOYA
The domestic soybean market remains inactive due to low trading activity. There is a demand from buyers, but supply is limited - farmers are holding back sales because of disadvantageous prices, while buyers are not willing to pay more because of low prices in the foreign market. This creates a dead end in the market.

Mar 13 - North America coffee industry seeks answers amid trade war
North American coffee market participants are seeking clarity on how the trade war started by the administration of U.S. President Donald Trump impacts their businesses across the region, where operations are highly interconnected. Companies have roasting, packaging and trading bases in both the United States and Canada in order to better supply clients.  

Mar 13 - Canadian farmers to boost wheat and cut canola, Statistics Canada says
Canadian farmers intend to plant more wheat, corn, oats and peas in 2025 than they did last year and cut canola, soybeans, barley and lentils, Statistics Canada reported on Wednesday. However, farmers' commitment to those planting plans is more up-in-the-air than ever before, say some farmers and analysts, because of the tariff threats being aimed at Canada by major trading partners.

Mar 12 - Brazil seeks more tax-exempt sugar exports to US
Brazil will pitch boosting tax-free sugar exports to the United States in talks in Washington, two sources familiar with the matter told Reuters, as the South American country aims to protect the sector amid possible U.S. ethanol tariff increases. Brazil's sugar industry has historically sought to increase the quota of tax-free sugar exports to the United States without success. 

Mar 12 - World soybean stockpiles might be smaller than they seem: Braun
Every oilseed trader is familiar with the present narrative: the world is awash with soybeans. It's true, global soybean stocks are set to hit record highs later this year. The situation is not exactly tight. But supplies are now expected to fall well short of previously predicted levels.

Mar 11 - Brazil aims to boost food stocks in bid to fight inflation
Brazilian crop agency Conab, which plans to build up grain stocks in a bid to rein in rising food inflation, is seeking to change rules governing procurement contracts, agency head Edegar Pretto said on Monday. The current rules were designed to help farmers when prices are low but the government faces new challenges, Pretto said in a statement to Reuters. 

Mar 11 - India likely to produce record 115.4 million tons of wheat, farm ministry says  
India is likely to produce a record 115.4 million metric tons of wheat in 2025, the farm ministry said on Monday, as higher state-set guaranteed prices prompted farmers to expand the area planted with high-yielding seed varieties. India, the world's biggest wheat producer after China, produced 113.3 million tons of wheat in 2024, according to the farm ministry.

Mar 10 - The end of cheap palm oil? Output stalls as biodiesel demand surges
Prices of cooking oil could be buoyed up for years by stagnating production and a biodiesel push in top producer Indonesia that are making traditionally cheap palm oil costlier, eliminating an advantage that also curbed prices of rival oils. Used in everything from cakes and frying fats to cosmetics and cleaning products, palm oil makes up more than half of global vegetable oil shipments and is especially popular among consumers in emerging markets, led by India. 

Mar 10 - Spooked by tariffs, funds purge bullish corn bets in near-record fashion: Braun
An imminent trade war between the United States and its two largest agricultural trading partners sent bullish Chicago corn speculators running for the hills last week. But very few bears were made of the ordeal. On Thursday, U.S. tariffs against most Mexican and Canadian goods were postponed until April. However, the levies had gone into effect on Tuesday and the market reaction was harsh, especially with Mexico the top destination for U.S. corn.

Mar 07 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· corn DAP Odessa, Ukraine, birch @221$->218$
· sunflower oil DAP Odessa, Ukraine, birch @1'112$

- Ukraine
· Exports from Ukraine of grain, oilseeds and their products in February according to the UAIS State Customs Service amounted to: corn - 2 160 thousand tons, wheat - 1 163 thousand tons, barley - 74.1 thousand tons, soybeans 391.2 - thousand tons, rape - 30.6  thousand tons, sunflower - 0.76 thousand tons, sunflower oil - 291 thousand tons, soybean oil - 45.7 thousand tons, cake - 206.1 thousand tons.

- World
· On March 4, 25% import duties from Canada and Mexico and increased customs duties on Chinese goods came into effect, which caused retaliation. The next day, the White House temporarily relaxed restrictions on trade, but trade tensions continued to increase market uncertainty.
· Due to the trade war with the United States, China is increasing its budget for 2025 to develop its own grain production and changing trade flows, increasing purchases in South America, Europe and the Pacific.

- CORN
The beginning of the week was marked by a fall in the prices of corn on the Ukrainian market, which was caused not only by the overheated domestic market and the accumulation of stocks by traders in ports, but also by a decrease in quotations on world trading platforms. However, by mid-week, the decline had stopped and some buyers began to raise prices. At the end of the week corn in the ports of Odessa was traded within 218-222 $/t DAP.
Corn of the new crop also suffered a fall and was traded at levels 195-198 $/t DAP ports (October-December).

Crop 2025
· DAP Ukraine (Odessa) ~195-198$
· DAP Germany (Mon-Fri) ~213-215€
· FCA Ukraine (border) ~182-185€

- WHEAT
Low trade activity in the foreign market remains, which puts pressure on prices, and the fall in futures on the Chicago and European exchanges only strengthened negative sentiment. During the week, buyers' prices decreased by an average of 5-8 €/t depending on the direction.
The domestic market has also been under pressure from external factors - for a week the prices in ports decreased by an average of $ 6-8/t.

Crop 2025
· DAP Ukraine (Odessa) 12.5pro ~216-218$
· DAP Ukraine (Odessa) 11.5pro ~214-216$
· DAP Ukraine (Odessa) fodder ~203-205$
· DAP Germany (Mon-Sun) trucks ~213-215€

- SUNFLOWER
Fluctuations in the prices of sunflower oil in the world negatively affected the Ukrainian market. During the week, the price of sunflower fell on average by 500 UAH/t. Trade activity remains sluggish, as the supply of oilseeds from producers is low. At the same time, most refiners remain uncoated for March-April, which may support the market in the short term.

- SOYA
The drop in soybean futures on the US exchange has only exacerbated the difficult situation in the market, as trading activity on both the foreign and domestic market remains low.

Mar 07 - Brazil braces for more Chinese demand, higher food prices amid US trade war
U.S. President Donald Trump's trade war with China will give Brazilian agricultural exporters an opportunity to take an even bigger share of the Chinese market at the expense of American farmers, but it could also fuel already high food inflation in Brazil. China this week retaliated swiftly to fresh U.S. duties announced by Trump, imposing hikes of 10% and 15% in levies covering $21 billion worth of American agricultural goods, including meat and soybeans. 

Mar 07 - Global demand forecasts for US crops to factor in tariffs in effect, USDA says
A monthly U.S. Department of Agriculture supply and demand report due next week will consider trade policies in place when the forecasts for grains and soybeans are issued, an agency official said on Thursday, as President Donald Trump suspended tariffs he imposed this week on Canada and Mexico. Grain traders and farmers will look closely at how USDA adjusts its World Agricultural Supply and Demand Estimates, due on March 11, as tariffs have fueled worries the U.S. will lose export markets for farm products.

Mar 06 - Celeres lowers forecast for Brazil's soybean crop on hot, dry weather
Agribusiness consultancy Celeres reduced its estimate for Brazil's 2024/25 soybean crop due to adverse weather in some center-southern states, but still sees production at an all-time high, it said in a report on Wednesday. Farmers in the South American country are expected to reap 171.6 million metric tons this year, Celeres said, down from a previous estimate of 174 million tons. 

Mar 06 - China to boost food imports from Latin America, Europe as US trade war escalates
China's new tariffs on U.S. farm goods are poised to reshape global trade flows, prompting the world's top agricultural importer to source more meat, dairy and grains from countries in South America, Europe and the Pacific. Shipments to China from key soybean supplier Brazil, top wheat exporter Australia and major pork supplier Europe, could surge as a trade war hots up between the world's largest economies, industry officials and analysts said.

Mar 05 - China raises 2025 budget for grain stockpiling, targets higher domestic output
China raised its annual grain production target to around 700 million metric tons and expanded its agriculture stockpile budget, pushing for stronger measures to safeguard food supplies as tensions with trade partners intensify. The world's largest importer of farm goods brought in more than 157 million metric tons of grains and soybeans last year but is seeking to cut its heavy dependence on supplies that mostly come from the United States and Brazil. 

Mar 05 - US farmers face higher costs, fewer markets from tariffs, farm groups warn
U.S. President Donald Trump's new tariffs on goods from Canada, Mexico and China threaten to hurt the $191 billion American agricultural export sector and raise costs for farmers struggling with low crop prices, farm groups warned on Tuesday. Trump imposed 25% duties on imports from Mexico and Canada and doubled duties on Chinese goods to 20%, sparking trade wars with the biggest buyers of U.S. farm products.

Mar 04 - Argentina's grains export revenue jumps 45% in February
Argentina's farm sector brought in a total $2.18 billion through exports in February, a 45% increase compared to the same month a year earlier, the CIARA-CEC chamber of oilseed and grains crushers and exporters said on Monday. The boost in export revenue was thanks to a presidential decree in late January that temporarily reduced grain export taxes, CIARA-CEC said.

Mar 04 - US soybean price for crop insurance hits 5-year low, corn up from 2024
Crop insurance price projections that can be used to determine indemnities for the 2025 growing season are the lowest for soybeans since 2020 but up a few cents per bushel for corn compared to last year, data from the U.S. Department of Agriculture showed on Monday. The USDA's Risk Management Agency set crop insurance base prices at $4.70 per bushel for corn and $10.54 a bushel for soybeans across most of the U.S. crop belt.  

Mar 03 - China targets US agriculture over Trump tariff threat, Global Times says
China has American agricultural exports in its cross hairs as it prepares countermeasures against fresh U.S. import tariffs, China's state-backed Global Times reported, raising the stakes in an escalating trade war between the world's top two economies. U.S. President Donald Trump last week threatened China with the extra 10% duty set to take effect on Tuesday, resulting in a cumulative 20% tariff, and accused Beijing of not doing enough to halt the flow of fentanyl into America, which China said was tantamount to "blackmail." 

Mar 03 - Beef prices may rise as Canadian ranchers shrink cattle herds, fearing Trump tariffs
Canadian farmer Jon Vaags quit buying beef cattle in November after the election of U.S. President Donald Trump made tariffs on Canadian exports seem like a serious risk. Now there are more than 1,000 empty spaces on his feedlot, where cattle are fattened on grain before being slaughtered for beef.

Feb 28 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold a week
· corn DAP Odessa, Ukraine, Feb-birch @226$->224$
· sunflower oil DAP Odessa, Ukraine, birch @1'135$
Crop 2025
· DAP corn Odessa, Ukraine, Yellow Leaf @...
· Oct FCA border Ukraine, Oct-Nov @...

- Ukraine
· According to the Ministry of Agrarian Policy and Food of Ukraine, soybeans acreages can be reduced by 10-15% in 2025 and sunflowers by 5% due to the accretion of maize acreage.
· Exports from Ukraine of cereals, oilseeds and their processing products, which are decorated from February 1 to 26, amounted to: corn - 1 990 thousand tons, wheat - 1 051 thousand tons, barley - 56.9 thousand tons, soybeans 361.8 - thousand tons, rape - 28.1 thousand tons, sunflower - 0.7 thousand tons, sunflower oil - 298.8 thousand tons, soybean oil - 54 thousand tons, oilcake (soybean and sunflower) - 327.5 thousand tons.

- World
· In India, hot weather is expected in March, which may affect wheat yields and force authorities to revise import tax to ensure supplies.
· Mexico has passed a law prohibiting the sowing of GMO corn, which may lead to new disputes with the United States, since the reform also applies to the use of such grain.

- CORN
The decline in trading activity due to the glut of the market by the supply from key exporters led to the fall in corn prices in Europe. On average, the decline was 3-5€ depending on the direction. Additional pressure also caused a weakening of quotations on the exchange Matif.
In the domestic market, the price of corn harvest in 2024 for the week remained almost unchanged. In the ports of Odessa grain was traded within 223-225 $/t DAP, and on the western border - 208-212 €/t FCA. At the same time, corn of the new crop continues to be in high demand, which contributed to the price increase to 202-203 $/t DAP ports (October-December).

Crop 2025
· DAP Ukraine (Odessa) ~202-203$
· DAP Germany (Mon-Fri) ~221-223€
· FCA Ukraine (border) ~185-190€

- WHEAT
The fall in wheat futures on key trading platforms has put pressure on foreign markets, resulting in lower physical market prices. At the same time, the Ukrainian market remains stable - during the week wheat prices have not changed. Limited supply of grain producers holding back the fall.

Crop 2025
· DAP Ukraine (Odessa) 12.5pro ~216-218$
· DAP Ukraine (Odessa) 11.5pro ~214-216$
· DAP Ukraine (Odessa) fodder ~203-205$
· DAP Germany (Mon-Sun) trucks ~220-222€

- SUNFLOWER
Prices for sunflower are reduced, having lost an average of 300-400 UAH per ton in a week. The main factor of this was the fall in the quotations of sunflower oil in the foreign market, which forced the plants to adjust the purchase prices. However, the needs of the refiners remain uncovered for March, as manufacturers refrain from selling large batches.

- SOYA
The high supply of North and South American soybeans continues to saturate the European market. This negatively affects the Ukrainian market, where soybean prices have decreased. Limited demand and reduced trade activity only exacerbate this pressure.

Feb 28 - US farmers to plant more corn, less soy in 2025, USDA says
U.S. farmers will plant more acres of corn and less of soybeans in 2025 than they did a year earlier, the U.S. Department of Agriculture said on Thursday. The USDA forecast corn seedings of 94.0 million acres, up from 90.6 million in 2024, and soybean seedings of 84.0 million acres, down from 87.1 million last year.  

Feb 28 - India braces for scorching March, wheat crop at risk, sources say
India is poised to enter the summer season with one of the warmest March months on record, and above-average temperatures throughout most of the month threaten to cut yields of the maturing wheat crop, two weather bureau sources said. India, the world's second-biggest wheat producer, is counting on a bumper harvest in 2025 to avoid costly imports, after three consecutive years of poor crop yields since 2022.

Feb 27 - SovEkon lowered forecast of Russian wheat exports in the 2024/25 season
SovEkon lowered its forecast for wheat exports in the 2024/25 season by 0.6 million tons to 42.2 million tons. Last season, 52.4 million tons were shipped from Russia, an average of 44.2 million tons over three years. The estimate was revised against the background of low shipping rates.

- Shipment rates remain below average. SovEkon estimates wheat exports in February at 2.0m tons, compared to 4.1m tons a year earlier and 2.9m tons in an average of five years.

- Low margins in export operations are a major constraint on wheat sales. Current Russian exporters’ margins are in negative territory, up from around $10 in November.

- The Government of the Russian Federation has set a quota for the export of wheat and meslin in the amount of 10.6 million tons. We believe that large traders who received the main quotas for February-June, will not rush to ship, primarily focusing on increasing their margins. The quota may not be fully selected against this background.

In the short term, the ruble’s appreciation also acts as a deterrent to exports. On February 21, the Central Bank of Russia set the dollar at 88.5 rubles against 102.0 rubles a month earlier. At the same time, the weekly duty reflects the strengthening of the ruble with a delay.
The slow pace of Russian exports has been a factor in supporting world prices. Since the beginning of the year, the price of Russian wheat with 12.5% protein has increased by $12 to $248/t FOB.

- In February, the U.S. Department of Agriculture downgraded its estimate of Russian exports by 0.5 million tons to 45.5 million tons.

SovEkon also raised its estimate of wheat exports in the 2025/26 season by 0.6 million tons to 38.9 million tons, against the background of a reduction in the export rate in the current season and an increase in carry-over reserves.
Slow exports could further support global prices. 

Feb 27 - Brazil judge rejects traders' request to halt grain export tax
A Brazilian judge has thrown out a request by global grain traders to halt enforcement of a law that imposes a 1.8% tax on the export of grains such as soybeans and corn from the state of Maranhao, according to the decision seen by Reuters. Abiove, a lobby group representing grains exporters, which hoped to get an injunction against the charge, argued the state law was unconstitutional in a case filed last week.

Feb 27 - American farmers to plant more corn, seeking best chance at profits
Farmers in the U.S. plan to plant more corn and fewer soybeans this spring than they did last year, hoping to eke out a profit and shield themselves from U.S. President Donald Trump’s threatened tariffs, growers and analysts said. "When you look at relative profitability, corn is winning the acreage battle," said Frayne Olson, an agricultural economist with North Dakota State University. 

Feb 27 - Slowing demand to pressure palm oil prices as alternatives gain market share
A recovery in palm oil production and lower imports by price-sensitive consumers are expected to drive prices lower, chipping away the premium of the tropical oil over rivals, even as top producer Indonesia boosts biodiesel production. Benchmark palm oil futures, which jumped 20% in 2024 to a two-year high, have already lost market share as top importers like India shift to cheaper alternatives such as soybean and sunflower oils.

Feb 26 - Raw sugar price rally likely to be short-lived as supply improves
A recent price rally that took ICE raw sugar futures to a more than two-month high will be short-lived as supply from the top two producers, Brazil and India, is expected to increase later this year, a Reuters poll of nine traders and analysts showed.The sweetener is set to close the year at 18.25 cents per lb, down 13.5% from Monday's close and also below the level seen at the end of 2024, according to the poll's median forecast.  

Feb 26 - Palm oil's premium over soyoil to diminish in coming months, says analyst Mielke
Palm oil's price premium over soyoil is expected to decrease within the next one to three months, as higher prices have been moderating demand in key consuming markets such as India, leading industry analyst Thomas Mielke said. Palm oil stocks could start rising in the coming months if demand fails to pick up, Mielke, executive director of Hamburg-based forecaster Oil World, said at an industry conference.

Feb 25 - Most EU grain crops in good shape but moisture risks linger
Grain crops in the European Union were still mainly in good condition by mid-February, but excess moisture in France and dryness in Eastern Europe remained risks for this year's harvest, the EU's crop monitoring service said on Monday. In France, heavy rainfall in the northwest in January exacerbated already-high soil moisture levels, creating unfavourable conditions for crop development, MARS said in a report. 

Feb 25 - Recent rains in Argentina mark 'inflection point' for soy, corn crops
Recent heavy rainfall across much of Argentina's agricultural heartland is likely to continue over the next few days and mark an "inflection point" for the current soybean and corn crops, the Rosario grains exchange (BCR) said on Monday. More than 100 millimeters (3.9 inches) of rain soaked farmland over the last few days, helping to cement a recovery from drought conditions and a heat wave that hit 2024/25 crops in late January and earlier this month.

Feb 24 - Brazil ICE sugar hedging seen at 72% of expected 2025/26 exports
Brazilian mills have hedged 72.5% of the expected sugar exports for the 2025/26 season (April/March), or around 21.75 million metric tons, using ICE futures contracts, according to a report by risk advisory firm Archer Consulting on Friday. That size of hedging is larger than seen at the same time a year ago (59.2%), but smaller than in some of the previous crops, Archer said, adding that mills hedged some 3.5 million tons in January alone at an average price of 17.66 cents per pound. 

Feb 24 - India likely to raise vegetable oil import taxes to help support local farmers
India is likely to raise import taxes on vegetable oils for the second time in less than six months to help support thousands of oilseed farmers reeling from a crash in domestic oilseed prices, two government sources said on Friday. The hike in import duties by the world's largest importer of edible oils could lift local vegetable oil and oilseed prices, while potentially dampening demand and reducing overseas purchases of palm oil, soyoil, and sunflower oil.

Feb 21 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· wheat 11.5pro DAP Odessa, Ukraine, birch @232$
· feed wheat DAP Odessa, Ukraine, Feb-berez @228$
· corn DAP Odessa, Ukraine, birch @222.5$->223$
· DAP corn Mon. Italy, birch-flower @252€
· sunflower oil DAP Odessa, Ukraine, Feb-birch @1'118$->1'122$

- World
· The Trump administration expects a deal with China, which provides for significant purchases of agricultural products from the United States.
· Taiwan and Thailand have announced plans to increase imports of agricultural products from the United States in order to equalize trade balance and avoid tariffs imposed by the Trump administration.
· Lower soybean crop forecasts in Brazil and Argentina, as well as high temperatures in recent years, support price increases on major international trading platforms.

- CORN
Corn prices continued to rise this week. In the current market context, sellers naturally refrained from offers, which additionally supported the growth of prices. At the same time, prices in CIF markets were trading at $ 5-6 below the price parity at CPT in Ukraine, which signals the overheating of the local market.
Seasonal corn can adjust to $10 per ton starting next week. The new crop remained unchanged and traded between $200-203 per ton at DAP ports (October-December).

Crop 2025
· DAP Ukraine (Odessa) ~200-202$
· DAP Germany (Mon-Fri) ~223-225€

- WHEAT
Talks about the possible end of the war added a negative tone to the wheat market. Funds have started to eliminate long positions on the stock exchange, which may indicate a potential suspension of the growing trend.
At the same time, wheat prices rose by $ 5 per ton compared to the previous week.

Crop 2025
· DAP Ukraine (Odessa) 12.5pro ~216-218$
· DAP Ukraine (Odessa) 11.5pro ~214-216$
· DAP Ukraine (Odessa) fodder ~203-205$
· DAP Germany (Mon-Sun) trucks ~225-227€

- SUNFLOWER
Some plants are already considering the possibility of launching a program for the purchase of rapeseed, which leads to a decrease in activity in the purchase of sunflower. The overall market context for oil was favorable for the growth of sunflower prices.
Prices increased by 500 UAH per ton compared to last week.

Crop 2025
· DAP Ukraine (factory) 46% (dry) ~440-455$ (excl. VAT)

- SOYA
GMo soya traded in the range of 390-395$ DAP ports of the Black Sea, but by the end of the week, prices fell to 390$.
Foreign markets are pressuring the supply of North and South American soybeans, which significantly limits the further increase in prices of legumes.

Feb 21 - IGC trims global corn crop forecast as South America outlook cut
The International Grains Council (IGC) has cut its forecast for 2024/25 global corn production, largely reflecting a diminished outlook for crops in Brazil and Argentina. The inter-governmental body, in a monthly update, reduced its 2024/25 corn production forecast by 3 million metric tons to 1.216 billion tons.

Feb 21 - Brazil's ever-expanding soybean area may face challenges from China: BraunGlobal soybean exporting giant Brazil has increased plantings of the oilseed for 18 consecutive years, a staggering streak unmatched in the industry. But for how much longer can Brazil continue boosting area before potentially running into an oversupply situation?

Feb 20 - China Pig Feed and Aquafeed Production Decreased in 2024, But Fishmeal Consumption Increased (JCIchina)
     
    According to data released by the Chinese Feed Industry Association, China’s feed production was 31.503 million MT in 2024, down 2.1% from 2023. In particular, pig feed production was 14.391 million MT, down 3.9%; aquafeed production was 22.62 million MT, a decline of 3.5%. Despite the production decline, fishmeal consumption increased. JCI estimated that China’s fishmeal consumption was approximately 2.194 million MT in 2024, increasing 10.3% from 2023.
    Then, why did such situation happen last year? Fishmeal consumption increased While feed production decreased. According to our analysis, firstly, the poor performance of aquaculture was unfavorable for fishmeal consumption, but hog sector switched from a 14-month bearish market to a bullish market, bringing certain support to fishmeal consumption by pig feed industry. Now, hog farming in China is still profitable.
    Secondly, with fishmeal supply recovering dramatically in China in 2024, fishmeal price saw significant declines, with super prime fishmeal quotes down from RMB19,000/MT in 2023 to as low as RMB13,000/MT in 2024, a relatively reasonable level. Therefore, feed producers increased their fishmeal use in feed formula.
    This year, we will keep a close eye on fishmeal supply in China, as well as hog and aquaculture farming profits, and fishmeal price levels, which are important factors influencing fishmeal consumption.

Feb 20 - High temperatures return to Argentina's grains belt, rains expected later
Argentina's key agricultural region will see maximum temperatures above 35 degrees Celsius (95°F) in the coming days, followed by rainfall in the early part of next week, the Buenos Aires Grains Exchange said on Wednesday. Argentina, the world's leading exporter of processed soybeans, and the third largest supplier of corn, keeps a close watch over both crops, which are currently in critical stages of development and key to the South American nation's economy. 

Feb 20 - Brazil 2024/25 soy forecast cut due to drought during crop tour
Brazilian soybean farmers will reap 171.3 million metric tons of soybeans in the 2024/25 season, less than the 172.4 million tons forecast in January, agribusiness consultancy Agroconsult said on Wednesday after inspecting about half of the fields in a nationwide crop tour. Though 1.1 million smaller than forecast in January, the crop will be 15.8 million tons larger that last season's, and will still be a record.

Feb 19 - EU 2024/25 soft wheat exports down 36% by February 16
European Union soft wheat exports since the start of the 2024/25 season in July had reached 13.33 million metric tons by February 16, compared to 13 million the previous week, and down 36% on a year earlier, European Commission data showed on Tuesday. A breakdown of this season's volumes showed Romania remained the largest EU soft wheat exporter, with 3.77 million tons so far, followed by Lithuania with 1.96 million tons, Latvia with 1.65 million tons, Germany with 1.50 million tons, and France with 1.46 million tons. 

Feb 19 - EU plans to restrict imported crops treated with banned pesticides, draft shows
The European Union is planning tougher restrictions on imported crops treated with pesticides banned in Europe, a draft European Commission document showed, a move that would impact suppliers including the U.S. U.S. President Donald Trump on Sunday shrugged off an earlier report of the EU plans from the Financial Times, which cited unnamed EU officials as saying they would present the idea this week.

Feb 18 - SovEkon: Wheat purchasing prices decreased for the first time in a year
The purchase prices of wheat with protein 12.5% in deep sea ports last week fell to 17,300-17,800 rub/t from 17,800-18,400 rub/t a week earlier. This is the first decrease in purchase prices since the beginning of the year. Prices of Russian wheat have decreased due to weakening of demand from exporters.

Exporters' demand has fallen since the February 15 introduction of a TRQ on exports. Previously, traders had sought to ship grain before the quotas went into effect, so that the quantities would not be taken into account in their allocation.
On February 14, the Central Bank of Russia set the USDRUB rate at 91.0 (-6.1% week to week).

At the same time, wheat export quotations continued to rise. Last week, the stock rose $1 to $242-246/t FOB.
Despite higher FOB prices and lower transshipment rates, exporters’ margins remain deeply negative, contributing to a slowdown in exports. SovEkon estimates February wheat exports at 2.0m tons, compared to 4.1m tons last year and 2.9m tons in an average of five years.

In the near term, exporters will try to reduce purchase prices, which will put pressure on the domestic market. On the other hand, low inventories of farmers in major export regions may support ruble prices.

Feb 18 - Brazil's 2024/25 soybean harvest 23% complete, AgRural says
Brazil's soybean harvest for the 2024/25 season reached 23% of the planted area as of last Thursday, agribusiness consultancy AgRural said on Monday, up 8 percentage points from the previous week. At the same time last year, 32% of the total area had been reaped, AgRural added. 

Feb 18 - Crucial weekend rains brought relief to Argentina's agricultural heartlands, report says
Rainfall recorded over the weekend in Argentina was crucial in preventing further losses in the 2024/25 soybean and corn cycle, the Rosario grains exchange said in a report on Monday. The exchange cut its soybean and corn harvest estimates last week to 47.5 million and 46 million metric tons respectively due to the impact of a drought in January.

Feb 17 - Russia's IKAR trims grain crop forecasts, warns of approaching frosts
Russia's IKAR agricultural consultancy on Friday trimmed its overall forecast for Russia's 2025 grain crop to 129 million metric tons from 130 million tons previously, saying that approaching frosts were a risk for winter crops. Russia's main breadbasket regions have experienced an unusually mild winter so far this year, with snow cover that protects winter crops melting completely. Now frosts are on their way in European Russia.  

Feb 17 - French wheat conditions near last year's low after heavy rains
The state of soft wheat in the largest European Union producer France are close to last year's four-year low, data from farm office FranceAgriMer showed on Friday, confirming concerns that wet winter weather may have damaged crops. First ratings on the condition of cereals in France after a winter pause showed that 73% of soft wheat was in good or excellent condition by February 10, slightly above a four-year low of 68% a year ago.

Feb 14 - China Said to Have Transferred/Delayed Wheat Orders Again... Will Import Volume Decline Further in 2025? (JCI China)

    According to a report on February 5, China may have postponed or resold about 10 ships or 600,000 tons of imported wheat, mainly Australian wheat and some Canadian wheat, as domestic wheat supply remains sufficient and the price keeps weak. An Australian trader claimed that China has postponed the import or resale of 8 to 10 shipments of Australian wheat originally scheduled for delivery in January or February 2025, and has not booked goods for March 2025. Industry sources say that the delayed wheat imports are expected to arrive after March 2025. Due to the bumper harvest of corn and wheat in China in 2024, domestic wheat inventory is sufficient, and the corn price is low, so the imported wheat will be mainly used for food rather than feed.

Feb 14 - Argentina soybean crop faring well after recent rains
More than 60% of Argentina's soy crop is in average-to-excellent condition after recent rains refreshed the fields, which had been battered by hot, dry weather, the Buenos Aires Grain Exchange said on Thursday. Argentina is the world's leading exporter of soybean oil and meal. The exchange estimates this season's soybean output at 49.6 million metric tons.

Feb 14 - Ukraine Weekly  Commodity Market (SPIKE BROKERS)

Sold in a week
Crop 2024
· wheat 11.0pro DAP Odessa, Ukraine, Feb-birch @228$
· corn DAP Odessa, Ukraine, Feb @10'200₴
· corn DAP Odessa, Ukraine, birch @218$
· soybean GMO DAP Odessa, Ukraine, Feb @391$
· soybean without GMO DAP Odessa, Ukraine, Feb @430$
· sunflower oil DAP Odessa, Ukraine, Feb @1'090$
Crop 2025
· DAP corn Odessa, Ukraine, yellow-leaf ...

- Ukraine
· February estimates of USDA on changing grain exports from Ukraine to 24/25 MY: wheat - 15.5 million tons (preliminary assessment - 16 million tons), corn - 22 million tons (preliminary assessment - 23 million tons).
· Exports from Ukraine of cereals, oilseeds and their processing products, which are decorated from 1 to 12 February amounted to: corn - 747.1 thousand tons, wheat - 650.6 thousand tons, barley - 42.2 thousand tons, soybean 203.6 - thousand tons, rape - 19 thousand tons, sunflower - 0.15 thousand tons, sunflower oil - 126.1 thousand tons, soybean oil - 31.1 thousand tons, cake (soybean and sunflower) - 125.6 thousand tons.

- Europe
· Imports of soft wheat to the EU from July 1 to February 9 amounted to 5.1 million tons, which is 14% less than last year. Ukraine's import time decreased to 66.5% (69.5% a year ago). Absolute value has decreased to 3.4 million tons (4.2 million tons a year ago). However, the share of Canada and the United States rose to 13.7% and 5.9% respectively (9.8% and 1.8% a year ago). The absolute value of these countries also increased - 0.7 million tons and 0.3 million tons respectively (0.58 million tons and 0.1 million tons a year ago).
· Imports of corn for the corresponding period is 12.4 million tons, which is 6% more than last year. Ukraine and Brazil declined to 56% and 13.1% (62.1% and 23.9% a year ago). However, the US time rose to 18.1% (0.9% a year ago).

- CORN
The corn market shows a moderate increase in external prices, but significant supply from key suppliers limits growth, despite active demand. In Ukraine, prices continue to strengthen - traders offer a premium for later deliveries of +2-3$. In addition, against the background of the expected growth of corn production in Ukraine and the United States, pushed Ukrainian farmers to more actively sign forward contracts for a new crop. Currently, deals are concluded in the range of 200-202$.

- WHEAT
Despite the growth of trade activity and the increased demand for wheat, traders are forced to limit the volume of procurement programs due to the reduction of residues and supply from producers. The main export markets for Ukrainian wheat in the current season (Jul-Sich) were Spain (2.5 million tons), Indonesia (1.5 million tons) and Egypt (0.9 million tons).

- SUNFLOWER
According to market participants, the remains of sunflower for the processing industry are about 4 million tons. Low yield and scarcity of raw materials make many factories consider "conservation" - stopping production before the new season. Meanwhile, the first forward quotations of sunflower of the new crop (46% of oil content) are discussed at 500-520 $/t with VAT.

- SOYA
Soybean prices rose against the backdrop of active domestic and external demand, particularly non-GMO beans. At the same time, a restrained offer from the producers limits the market, as farmers keep stocks in anticipation of even higher price

Feb 13 - Drought leaves Canadian farmers unpaid, reveals holes in safety net
Canadian farmer Bill Prybylski planned to buy a new tractor with proceeds from crops sold to two grain companies in early 2024. He delivered the grain before both companies declared bankruptcy, leaving him short C$165,000 ($113,487.86) they owed. Now Prybylski has no money to replace his old tractor.Hundreds of Canadian farmers have received delayed payments for their crops or not been paid at all, as a growing number of grain-buying firms declare bankruptcy amid drought and low commodity prices, according to interviews with dozens of farmers, a government agency, and a review of bankruptcy documents.  

Feb 13 - Rains refresh driest areas in Argentina's grains belt
Heavy rains have drenched the most-parched parts of Argentina's key agricultural region in recent hours, the Rosario Grains Exchange said on Wednesday, bringing relief to the soy and corn crops. The showers are the most recent in a wave of storm fronts which have rolled through the region in recent days, this time hitting areas which still needed more rain.

Feb 12 - USDA trims Argentina corn, soy harvest estimates after dry weather
Argentina, a major grain supplier, will harvest less corn and soy than previously expected after hot, dry weather hurt crops, the U.S. Department of Agriculture said on Tuesday. Grain traders have been closely monitoring dryness in Argentina because it is the world's top exporter of soyoil and meal, the No. 3 exporter of corn, and competes with the U.S. for global grain and soy sales. 

Feb 12 - US sugar demand falls further, production still seen at record
Sugar consumption in the United States in the 2024/25 season will fall to 12.48 million short tons (ST), the U.S. Department of Agriculture projected on Tuesday, 75,000 ST less than estimated a month earlier and 2.7% below the amount used the previous year. If the USDA's projection is confirmed, it would be the third consecutive annual decrease in sugar consumption in the U.S.

Feb 11 - Brazil's 2024/25 soybean harvest 15% complete, AgRural says
Brazil's soybean harvest for the 2024/25 season reached 15% of the planted area as of last Thursday, agribusiness consultancy AgRural said on Monday, up 6 percentage points from the previous week. At the same time last year, 23% of the total area had been reaped, AgRural added in a statement, meaning work in the fields overall remains delayed and may affect sowing of Brazil's second corn crop in some areas. 

Feb 11 - EU plans simpler rules for billions worth of farm subsidies, draft shows
The European Union is drawing up plans to simplify rules governing its huge farming subsidy programme, draft documents seen by Reuters showed, as Brussels races to lighten the regulatory burden on businesses. The move could affect large sums of EU money.

Feb 10 - US farmers turn to Airbnb, corn mazes to outlast agricultural downturn
A dead-end dirt road cutting through rural Wisconsin leads to a pasture dotted with shaggy-coated Highland cattle, fluffy Icelandic sheep and a vintage Airstream trailer that farmer Brit Thompson turned into an Airbnb to capitalize on an explosion of urbanites looking to spend time in the countryside. Her guests, mostly Chicago-area professionals, offer a steady flow of income in an increasingly unstable agricultural economy. 

Feb 10 - Malaysia palm oil stocks hit 21-month low in January as output plunges
Malaysia's palm oil stocks fell more than expected in January to their lowest level in 21 months even as exports dropped and imports rose, due to a plunge in output, data from the industry regulator showed. The drop in inventories in the world's second-largest palm oil producing country after Indonesia could support benchmark futures, traders said, following a sharp decline from their highest in about 2-1/2 years in November.

Feb 07 - Mexico drops restrictions on genetically modified corn imports
Mexico has repealed import restrictions on genetically modified corn for human, livestock and industrial uses following a U.S. victory in a North America trade panel dispute. Former President Andres Manuel Lopez Obrador first banned such imports then reversed course to ban only those destined for human consumption. 

Feb 07 - Russia takes control of grain trader's assets
Russia's state property agency has taken control of all the assets of what was until recently Russia's largest grain trader following a court decision last week, a state property registry entry showed on Thursday. A Russian court ruled in favour of a lawsuit filed by the General Prosecutor's Office to transfer all the assets of Rodnie Polya, which exported 14% of Russian grain in the 2023/24 season, to the state, sources close to the company previously told Reuters.

Feb 07 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold a week
· corn DAP Odessa, Ukraine, Feb @216$
· corn DAP Odessa, Ukraine, birch @217.50$
· soybean without GMO DAP Odessa, Ukraine, Feb @19'950₴

- Ukraine
· Ukraine has seen the worst soil moisture rate in 7 years, as November and January rainfall has been significantly lower than normal. This creates risks for the harvest of winter crops.
· Exports from Ukraine of cereals, oilseeds and their processing products, which were decorated in January amounted to: corn - 2 483 thousand tons, wheat - 891.1 thousand tons, barley - 64.9 thousand tons, soybeans 223 - thousand tons, rape - 102.8 thousand tons, sunflower - 20.1 thousand tons, sunflower oil - 378.1 thousand tons, soybean oil - 42.9 thousand tons, oilcake (soybean and sunflower) - 406.3 thousand tons.

- World
· Market tensions decreased after the US decision to postpone the introduction of export duties for Mexico and Canada per month.
· China postpones wheat imports until April because of its high crop and redirects previously purchased 600 thousand tons of wheat to Asian buyers, which is partly a bear factor for the grain market.

- CORN
During the week corn was actively traded in the direction of ports and on the western border. Buyers not only actively sell grain with delivery in March-May, but also increase forward contracts for a new harvest with shipment in October-November, which indicates positive market expectations for the upcoming season.
In the ports of Odessa, corn was traded on average at 215-217$ DAP, on the western border - 203-205€ FCA

- WHEAT
In the domestic market there is an active demand for wheat, which contributes to the increase in prices. The most dynamic rise in price is in the segment of feed grain, which leads to a reduction in the spread between food and feed wheat to 6-8$.

- SUNFLOWER
The sunflower market remains tense, because the indicative prices have undergone significant fluctuations, while the actual prices remain relatively stable. Demand from processors is retained due to lack of raw material needs coverage. Despite price cuts, factories are ready to offer competitive conditions including premiums for large batches and high oil content.

- SOYA
The soybean market is characterized by moderate trading activity. Despite the demand from the processing enterprises, the limited supply from producers restrains the volume of the concluded agreements.

Feb 06 - US food purchases for foreign aid halted despite waiver, sources say
The U.S. has stopped purchases for foreign food aid programs since the Trump administration began a sweeping review of federal aid spending, despite a waiver issued nearly two weeks ago for food assistance, according to nine sources. The freeze in purchases of wheat, soybeans and other commodities produced by U.S. farmers could hinder or halt the operations of organizations that provide millions of tons of food each year to help alleviate poverty in countries such as Madagascar, Tanzania and Honduras, the sources said.  

Feb 06 - Brazil roasters fret over fake coffee as prices soar
The Brazilian coffee industry is worried that sky-high coffee prices are leading some companies to expand offerings of what it calls fake coffee in the local market, as they seek to attract consumers who are feeling the pinch. Brazil's coffee roasters association, ABIC, recently identified in groceries powdered products marketed as coffee, but that are mostly not made with the bean.

Feb 05 - ADM 2025 outlook clouded by trade tensions, biofuel policies
Global grains trader Archer-Daniels-Midland is slashing costs and cutting staff to weather a commodity downturn made more challenging by uncertainty about U.S. biofuels policies and a brewing trade war, the company said on Tuesday. ADM's difficulties follow an accounting scandal last year that forced the company to twice revise financial statements and triggered an ongoing federal investigation. 

Feb 05 - Farmers in southern Ukraine begin 2025 grain sowing
Farmers in southern Ukraine's Mykolaiv and Kherson regions have started spring grain sowing, taking advantage of unusually warm weather, a Ukrainian lawmaker said on Tuesday. Agricultural committee member Dmytro Solomhuk said on Facebook that farmers had begun sowing spring wheat.

Feb 04 - Prices of Russian wheat are rising (SovEkon)

 Quotes for Russian wheat of the 4th class (with a protein of 12.5%) on the domestic market since the beginning of the year rose to 15,525/t ($158/t) from 14,725 rubles/t ($145/t), it follows from the report "SovEkon". Wheat prices strengthened amid strong demand from exporters.

Feb 04 - Wilted leaves on Argentina's farms signal bigger hit to soy, corn harvest
Standing in his fields among tall, dry corn plants, farmer Dario Sabini inspects the smaller-than-usual corn cobs before taking the yellowing leaves of the crop that should be green at this time of the season, to crinkle them between his fingers. "We are seeing here corn that's already gone. The plant is already yellow, it will not come back," said the farmer from the town of Veinticinco de Mayo, some 200 kilometers (125 miles) west of Buenos Aires. The town has been hit by a recent drought.  

Feb 04 - Brazil's 2025 coffee crop seen falling 1.8% to 63.2 mln bags, says exporter
Brazil's 2025 coffee crop that will be harvested from around April was projected on Monday at 63.2 million 60-kg bags, 1.8% down from the 2024 crop, exporter Comexim said on Monday, blaming adverse weather conditions for the smaller forecast. Comexim, which is one of the five largest exporters of Brazilian coffee, projected Robusta coffee production in the country at 23.3 million bags, 24% more than in 2024, while Arabica coffee crop was estimated at 39.9 million bags, or 12% less than last year.

Feb 03 - Unprecedented clash forms between funds' CBOT corn and wheat views -Braun
The recent buildup of speculators’ massively bullish Chicago corn bets has been well publicized. But the growing and now unparalleled rift between investors’ corn and wheat positions may have been less apparent. 

Feb 03 - ADM to make layoffs soon to cut costs, sources say
Global grain merchant Archer-Daniels-Midland will soon start laying off employees as part of a global effort to cut costs as low crop prices erode profit, three people briefed on the matter told Reuters on Friday. Operations in the United States would be the focus of the cuts, one of the sources said.

Feb 02 - Russia wheat exports to slow down sharply in H1 2025 due to lower harvest, export curbs.
For the week of February 5–11,

• Russia’s export tax on wheat will be 3,941.6 RUB/ton (previously 4,430.1).
• The export tax on barley will be at 3,012.5 RUB/ton (previously 3,407.8),
• and the export tax on corn will be 4,255.3 RUB/ton (previously 4,659.1).

SovEcon has lowered its forecast for Russian wheat exports from 43.7 million tons to 42.8 million tons. Last year’s exports were 52.4 million tons, with an average of 44.2 million tons over the past three years. The forecast was reduced due to weak current exports and export sales.

Jan 31 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· corn DAP Odessa, Ukraine, Feb @214$->215$
· corn DAP Odessa, Ukraine, birch @216$
· soybean GMO DAP Odessa, Ukraine, Feb @384$

- Ukraine
· As of 29.01, the estimated wheat residues for export, taking into account the contracted ones for February-March, are 4.7 million tons; corn - 10 million tons; soybeans - 1.7 million tons.
· Most traders believe that this year China will not show interest in Ukrainian corn, which will force producers and exporters to look for new markets.

- World
· Reducing export taxes in Argentina will stimulate farmers to actively sell grains and oilseeds, keeping the market in suspense.
· In February, temperatures above the average are expected in India, threatening wheat yields and will add support to prices.
· The delay in soybean harvesting in Brazil due to adverse weather conditions shifts the corn sowing window, which can affect yields due to the risk of sowing in the dry season.

- CORN
On the Ukrainian market, corn prices stopped growing, lingering at 214-215$ (delivered to the port). The accumulated remains in the ports led to the oversaturation of the external market with proposals from the Ukrainian exporters for the period of delivery in February-March. At the same time, the foreign market clearly signals the presence of demand, encouraging sellers to contract later periods of supply.
New corn harvest for the first time in recent years traded at 200$ (delivered to the port) in October-November. And on the Western border, European buyers voiced demand at 195€ (loaded in the European train) in October-December. High prices for new crops contribute to the conclusion of forward contracts right now.

- WHEAT
Buyers in the foreign market demonstrate high activity, demand increases, which in turn leads to higher prices. In addition, the growth of futures on the European exchange is also affected. The Ukrainian market also demonstrates high trade activity. Demand from exporters and processing enterprises is high.

- SUNFLOWER
In the domestic market there was a rapid fall in the prices of sunflower and its products, which directly contributed to the decline in prices in the world oil market. During the week, the cost of sunflower at 46% oil content fell by 500-600 UAH and continues to decline. Despite this, the processing plants remain uncovered, which is well understood by farmers. While waiting for the market situation to improve, they reduced the sales of oilseeds.

- SOYA
The growth of demand for soybeans by both processing enterprises and traders supports an upward price trend. Despite the high production of soybeans in Ukraine, farmers refrain from active sales, expecting the best price. An additional factor of support is the active purchasing activity of external buyers, which creates an additional incentive for rising prices.

Jan 31 - India braces for warmer February, wheat crop at risk, sources sayIndia is set to see above-average temperatures in February, with key wheat- and rapeseed-growing states likely to see maximum temperatures up to 5 degrees Celsius above average on some days in a risk to crops, two weather bureau sources said. As the world's second biggest wheat producer, India is counting on a bumper harvest in 2025 to avoid costly imports, following three straight years of poor crop yields since 2022. 

Jan 31 - USDA December soy crush seen at 217.6 million bushels, analysts say
The U.S. soybean crush likely rose in December to a record-high 6.529 million short tons, or 217.6 million bushels, according to analysts surveyed by Reuters ahead of a monthly U.S. Department of Agriculture report due on Monday. If the average of eight analyst estimates is realized, it would be up 3.6% from the 210.0 million bushels crushed in November and up 6.6% from the December 2023 crush of 204.3 million bushels.

Jan 30 - SovEkon lowered forecast of Russian wheat exports in 2024/25

SovEkon lowered its estimate of wheat exports in the 2024-25 season to 42.8 million tons from 43.7 million tons a month earlier. Last season, Russia shipped 52.4 million tons, a three-year average of 44.2 million tons. The estimate was revised due to the low rate of shipments.

The decline in wheat export estimates reflects the current slow pace of shipments and sales. January exports are estimated at 2.1m tons, 1.0m tons below average and the lowest since January 2022 when 2.0m tons were exported.

The current margins of Russian export operations remain close to zero or in the negative zone. If exporters’ margins do not rise significantly, we do not expect wheat exports to accelerate in the short term.

In mid-February, a 10.6m-ton quota will go into effect until the end of the season. We do not rule out quota increases, especially when export prices rise, but so far this is not our main scenario.

In January, the U.S. Department of Agriculture downgraded its forecast for Russian wheat exports by 1m tons to 46m tons, a still-extraordinarily high figure. We expect this to decline in the future, which may be accompanied by higher export estimates for the United States and Argentina.

Lower Russian export activity will support the global wheat market, as reduced supply from Russia will contribute to increasing global balance of payments tensions.

Jan 30 - India's coffee output dips, clouds export outlook despite record prices
India's coffee exports are expected to decline more than 10% in 2025 due to lower production and reduced carry-forward stocks from last season's crop, even as beans fetch record high prices, industry officials told Reuters on Wednesday. The South Asian country, a major tea producer, is also the world's seventh-largest coffee grower. The country mainly produces robusta beans used to make instant coffee, but also grows the more expensive arabica variety. 

Jan 30 - Brazil's slow corn planting may further squeeze tight world stocks - Braun
With global corn supplies set for decade lows later this year, Brazil’s corn harvest cannot afford a mishap. Brazilian corn stocks are particularly tight heading into 2024-25, and planting of the second corn crop, which accounts for almost 80% of the country’s corn production, is off to a slow start.

Jan 29 - Jordan buys estimated 50,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 50,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from Bulgarian trading house Buildcom at an estimated $265.25 a ton cost and freight included (c&f) for shipment in the first half of June, they said.

Jan 29 - EU 2024/25 soft wheat exports down 37% by Jan. 26
European Union soft wheat exports since the start of the 2024/25 season in July reached 12.18 million metric tons by Jan. 26, up compared to 11.74 million the previous week, but down 37% from a year earlier, European Commission data showed on Tuesday. However, the Commission said export data for Italy has been incomplete for the past seven weeks. For France, data has been incomplete since the beginning of 2024, while export data for Bulgaria and Ireland has been incomplete since the beginning of the 2023/24 marketing year.

Jan 29 - Export duty on sunflower oil in Russia continues to grow
In February 2025, the export duty on sunflower oil in Russia will amount to 17,786 rubles per ton, which is more than 1.7 thousand rubles more than the current month's figure (16,067 rubles per ton), reported the Ministry of Agriculture of the Russian Federation.
As it is specified, this duty is calculated at an indicative price of $1068.5 per tonnes (in January - $1,027.5 per tonnes).

At the same time, the export duty on Russian sunflower meal will be reduced next month - from 4771 rubles per ton in January to 3889 rubles per ton. This duty is set taking into account the indicative price for the product at $212.2 per tonnes (in January - $221 per tonnes).

Jan 28 - Thai 2025 rice exports seen falling over 20% this year, commerce ministry says

 Thailand's rice exports are seen falling about 24% to 7.5 million metric tons this year, the commerce ministry said. The lower forecast was due to the resumption of exports from India and improved volumes from other rice producers, Arada Fuangtong, head of the ministry's foreign trade department, told a media conference.  

Jan 28 - Bangladesh issues another new tender to buy 50,000 T of rice
Bangladesh's state grains buyer has issued another international tender to purchase 50,000 metric tons of rice, traders said on Monday. The deadline for submission of price offers is Feb. 6

Jan 28 - French wheat exports slump on poor crop, Algeria spat and Russian rivalry
France faces its worst wheat exports in decades as a rift with Algeria, a lull in Chinese demand and a dire harvest accelerate a loss of market share for the European Union's top grain grower to cheaper producers like Russia. Shrinking wheat exports are another setback for French farmers, who resumed protests early this year over falling income and foreign competition.  

Jan 28 - AgRural trims forecast for Brazil's 2024/25 soy crop
Brazil's 2024/25 soybean crop is expected to total 171 million metric tons, agribusiness consultancy AgRural said on Monday, lowering its forecast by 500,000 tons due to lower yields in the states of Mato Grosso do Sul, Parana and Rio Grande do Sul. The "excellent crop" in Brazil's top-grain producing state Mato Grosso helped offset the reduced yields in other areas, AgRural said, though cautioning that grain quality there may drop if excessive rainfall is registered in February.

Jan 27 - China's suspension of five Brazilian soy exporters to last 2 months, says Brazilian official
China's suspension earlier this month of Brazilian soybean exports from five companies after cargoes did not meet plant health requirements will last two months, a top Brazilian agriculture official told Reuters on Friday. Brazil is the top soybean exporter to China, which is the world's top importer. Brazilian farmers and exporters compete with counterparts in the United States for the Chinese market. 

Jan 27 - Frigid weather likely damaged US winter wheat crop, meteorologist says
Frigid temperatures this week likely killed as much as 15% of the winter wheat crop in parts of the U.S. Plains and Midwest, the Commodity Weather Group said on Friday, in an ominous sign for U.S. wheat production. A blast of Arctic air covered much of the United States earlier this week, sending temperatures plunging across key wheat areas that have seen limited snowfall this winter.

Jan 24 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· corn DAP Odessa, Ukraine, Sich-Feb @211$
· corn DAP Odessa, Ukraine, Feb @215.50$
· soybean GMO DAP Odessa, Ukraine, Feb @384$
· soybean without GMO ISCC DAP PN-ZH. Hungary, feb @442€
· sunflower oil DAP Odessa, Ukraine, Jan @1'100$->1'110$

- Ukraine
· Exports from Ukraine of cereals, oilseeds and their products in the period from 1 to 22 January amounted to: corn - 1 750 thousand tons, wheat - 610.5 thousand tons, barley - 33.1 thousand tons, soybeans 157.3 - thousand tons, rape - 63.8 thousand tons, sunflower - 19.6 thousand tons, sunflower oil - 240.4 thousand tons, soybean oil - 28.1 thousand tons, cake (soybean and sunflower) - 241.8 thousand tons.

- Europe
· Imports of corn to the EU from July 1 to January 19 amounted to 11 million tons, which is 4% more than the same period last year. Ukraine's share in total imports declined to 56% (from 58.8% a year ago), as well as Brazil's share — to 14.7% (from 26.5%). Instead, the United States has significantly expanded its presence in the EU market, increasing its share to 16% (from 1% a year ago).
· Imports of soybeans for the corresponding period is 7.9 million tons, which is 15% more than last year. Ukraine's import time is 11.1% (8% a year ago). The absolute value increased to 0.88 million tons (0.55 million tons a year ago). The United States and Brazil accounted for 51% and 31.2% respectively (54.5% and 26.8% a year ago). The absolute value of these countries also increased - 4 million tons and 2.4 million tons respectively (3.7 million tons and 1.8 million tons a year ago).

- CORN
Prices in the domestic corn market continue to show positive dynamics, which is due to high activity both inside and outside the country. In the ports of Odessa, prices on average rose by 4-5$ to 214-215$ DAP. Buyers are actively contracted for March, which indicates a steady demand and the desire to fix prices in the face of possible volatility.

- WHEAT
In the domestic market, there is a further increase in prices for feed wheat, due to increased demand from processing enterprises and the overall cost of the feed group. As a result, the spread between food and forage wheat was reduced to $7-$8.

- SUNFLOWER
Sunflower prices continue to show growth due to the stable demand from processors. During the week, the cost of sunflower at 46% oil content increased by an average of 400-500 UAH. Although manufacturers have increased the supply, its volume is still insufficient to cover the needs of factories.

- SOYA
The European market is preparing for the supply of Brazilian soybean new crop, active supplies of which are expected in 2 half of February. Brazil plans to strengthen its position as the world's leading supplier, actively competing with the United States, which also exports significant amounts of soy to the EU. This poses a direct threat to the Ukrainian manufacturer, because it is becoming increasingly difficult to compete with cheap Brazilian and American soybeans on the European market.

Jan 24 - Argentina to slash grains export taxes in gift to hard-hit farmers
Agricultural powerhouse Argentina will temporarily lower taxes on its grains exports, the government said on Thursday, citing the improving health of the nation's economy and delivering on a campaign promise from libertarian President Javier Milei. The country's powerful agricultural groups have been pressuring for tax relief for the sector, which they argue is in a "critical" situation due to a drought and low crop prices. 

Jan 23 - Brazil says soy shipments to China from five firms halted due to contaminationChina, the world's biggest soybean buyer, has stopped receiving Brazilian soybean shipments from five firms after cargoes did not meet plant health requirements, according to a statement from the Brazilian government confirming what Reuters had learned from two sources on Wednesday. The phytosanitary-related suspension comes as Brazil has been bolstering its share of the world's biggest soybean market at the expense of the No. 2 exporter, the United States. 

Jan 23 - Brazil's beef companies breathing easy over prospect of new Trump tariffs
Brazilian beef companies do not expect to be hurt by potential new tariffs from President Donald Trump's administration because of low inventories of cattle in the U.S. and a sizable tariff that already exists on these exports. Roberto Perosa, head of the Brazilian beef exporters association ABIEC, said in an interview on Wednesday that Brazilian beef exports outside a 65,000-ton annual quota already are slapped with a 26.4% tariff when entering the U.S.

Jan 22 - Amid frosts in the US, wheat quotes rose by 2-4.9%, which will support prices in Ukraine (Grain Trade)

- Low temperatures and lack of snow cover in most of the plains of the USA are likely to have damaged winter wheat crops. Over the past 3 days, frosts in the USA have reached -20…-22 ° C, while there was no snow cover in the southwestern regions, which could have negatively affected crops. Although the frosts were short-lived, quotes responded to them by increasing by 3.6-4.9%, although overall prices increased by only 2-2.5% for the week.

- March wheat futures rose yesterday:
    by 3.7% to $205.3/t – for soft winter SRW wheat in Chicago (+2.3% per week),
    by 4.9% to $211.5/t – for durum winter HRW wheat in Kansas City (+2.7%),
    by 3.6% to $222.1/t - for durum spring HRS wheat in Minneapolis (+2.5%).
    by 2% to €231.25/t or $240.9/t - for wheat on the Paris Euronext (0%).

- Wheat exports from the US for January 10-16 decreased by 12.5% compared to the previous week to 261.8 thousand tons, and in total for the season reached 13.279 million tons, which is 23.8% ahead of last year's pace. Wheat exports from the EU (as of January 19) amounted to 11.74 million tons, which is 36.5% less than last year.

- The new Egyptian agency Mostakbal Misr has purchased a significant amount of Russian wheat for delivery in January-February, but there is no public information about prices and volumes.

- Against the backdrop of decreasing export demand, wheat exports from the Russian Federation in January may amount to 2.4 million tons, which will be 1.7 times lower than exports in January 2024 (4.08 million tons) and will be the lowest figure since January 2022, when 1.9 million tons were exported.

- In Ukraine, against the backdrop of rising world prices for wheat and limited supply from producers, export demand prices for food wheat increased by 100-150 UAH/t to 10,400-10,600 UAH/t or $218-223/t, and for feed wheat by 100-150 UAH/t to 9,900-10,200 UAH/t or $209-211/t with delivery to Black Sea ports.

Jan 22 - Egypt's Mostakbal Misr makes major Russian wheat purchase
Egypt's state grain buyer, Mostakbal Misr, has made a significant purchase of Russian wheat, set for shipment this month, three sources familiar with the matter told Reuters. The shipment, which sources said was procured through Russia's OZK Group, and will be loaded onto four vessels sailing under the Egyptian flag.  

Jan 22 - Bird flu outbreak in Georgia threatens US chicken exports, trade group say An outbreak of bird flu in poultry in the U.S. state of Georgia, the nation's biggest chicken producer, is set to trigger trade restrictions from major meat importers, an industry group said on Tuesday, warning of a move that could financially harm farmers and processors. A flock of 45,500 breeder chickens tested positive last week in Elbert County, Georgia, near the border with South Carolina, according to the U.S. Department of Agriculture.

Jan 22 - Forecast of Russian wheat production in 2025 remains unchanged, but weather risks are growing (SovEkon)

- SovEkon left its forecast of Russian wheat production in 2025 unchanged at 78.7 million tons compared to 82.4 million tons a year earlier. The abnormally warm weather does not yet cause any significant problems for crops, but the associated risks are gradually increasing.

- Against the background of abnormally warm weather, the snow cover accumulated at the end of last year in the Center has thinned, and in the South - has gone down. In the Volga region the snow cover remains relatively high.

Temperatures in the soil in the Center and in the South were also much higher than normal, and winter in some regions began to vegetate. Frosts during growing seasons or when snow cover is not available are a serious threat to winter crops and can cause their death.

- Another source of risk is ice crust at the Center. Snow melting has led to the formation of an ice crust, which in recent years has caused significant damage in winter.The plants went into winter in a much worse condition than normal. SovEkon estimates that, based on data from Roshydromet, the proportion of crops in poor condition is about 37 percent, the highest in at least 20 years.

- In the short term, the forecasts do not indicate a significant decrease in temperatures. However, given the current weather conditions and the extremely poor state of crops at the beginning of winter, any severe cold snap can lead to significant winter deaths.

Jan 21 - Algeria tenders to buy 240,000 T corn and 50,000 T soymeal
Algerian state agency ONAB has issued international tenders to purchase up to 240,000 metric tons of animal feed corn and about 50,000 tons of soymeal, European traders said on Monday. The deadline for submissions of price offers is Tuesday, Jan. 21. 

Jan 21 - Brazil's soybean harvest at slowest pace since 2021, says AgRural
Brazil's soybean harvest for the 2024/25 season had reached 1.7% of the planted area as of last Thursday, agribusiness consultancy AgRural said on Monday, the lowest level for this time of year since the 2020/21 cycle. Work in the fields has been affected mainly by excessive rains in top grain-producing state Mato Grosso, where the harvesting pace so far is the slowest ever in the data series starting 2010/11, AgRural said in a statement. 

Jan 21 - China's pig farming recovers, cattle and dairy firms still struggling, official says
China's imports of rapeseed from Canada, which had been surging since June, plunged in December after Beijing opened an anti-dumping investigation into the oilseed, Chinese customs data showed on Monday. Beijing in September launched a one-year investigation into rapeseed imports from Canada after Ottawa imposed tariffs on Chinese-made electric vehicles, prompting importers fearing retaliatory anti-dumping duties to scale back purchases from Canada.

Jan 20 - US soybean market share in China falls in 2024, replaced by Latam
China's soybean imports from the United States dropped 5.7% in 2024 from the previous year and were replaced by Brazilian and Argentine shipments, as fears of a renewed Sino-U.S. trade war further hammered the U.S. market share to under a quarter. China imported a record 105.03 million metric tons of the oilseed in 2024 ahead of the inauguration of President Donald Trump, whose threats of blanket 60% tariffs on all Chinese goods sparked concerns over disruptions to agriculture trade. 

Jan 20 - India set to allow 1 million tons of sugar exports this year
India is set to allow exports of 1 million metric tons of sugar during the current season, government and industry sources said, to help mills export surplus stocks from the world's second biggest producer of the sweetener and help prop up local prices. The permission to let mills sell 1 million tons of sugar on the world market could put further downward pressure on global sugar prices.

Jan 17 - Ukrainian Weekly Commodity Market (SPIKE BROKERS)

Sold in a week
· corn DAP Odessa, Ukraine, Sich-Feb @10'200₴
· corn DAP Odessa, Ukraine, Sich-Feb @209$-210$>211$
· corn DAP Odessa, Ukraine, birch @213$

- Ukraine
· In Ukraine, it is expected that in 2025, the sowing areas under soybeans and rapeseed will be reduced, and crops under corn will increase.
· Exports from Ukraine of cereals, oilseeds and their products in the period from 1 to 15 January amounted to: corn - 1 071.3 thousand tons, wheat - 412.5 thousand tons, barley - 9.1 thousand tons, soybeans 113.2 - thousand tons, rape - 54.3 thousand tons, sunflower - 0.3 thousand tons, sunflower oil - 176.9 thousand tons, soybean oil - 20.4 thousand tons, oilcake (soybean and sunflower) - 202 thousand tons.

- World
· As of January 13, in Brazil, the first corn harvest was carried out by 2.3%, and soybeans were harvested by 0.3%.
· Rosario Grain Exchange lowered the forecast for corn production in Argentina by 24/25 MY from 51 million tons to 48 million tons. The main factor in the reduction of the forecast was dry weather, which negatively affected crops in the country. Soybean production is expected in the range of 53-53.5 million tons.

- USA
· USDA updated in January its forecasts for late crop yields in the United States: corn - 377.6 million tons (preliminary estimate — 384.6 million tons), soybeans - 118.8 million tons (preliminary estimate — 121.4 million tons).

- CORN
On the foreign market there is an intensification of buyers, demand on their part increases, which contributed to the increase in prices. The domestic market of Ukraine also demonstrates high demand, especially among exporters who want to fulfill previously concluded contracts. This led to an increase in corn prices both at the border of the country and in ports, where prices increased by an average of 3-4$ per week.

- WHEAT
The high demand of exporters and processing enterprises pushed wheat prices to growth. The increase on feed grain was especially noted, which was facilitated by the increase in prices for feed group as a whole. Feed wheat was traded in parity with corn, which emphasizes its competitiveness.

- SUNFLOWER
Sunflower prices in the Ukrainian market show growth, which is due to high demand from processing enterprises and a limited supply. Manufacturers continue to support sales, waiting for a further increase in prices. Prices for ordinary sunflower are kept at the level of 25-26 thousand UAH per ton for the oil content of 46%. At the same time, the premium for high-oil sunflower exceeded 5 thousand UAH.
In the port, the price of sunflower oil on the spot market was traded on average 1090-1100 $/t CPT port, and granulated sunflower meal - 212-220 $/t CPT port.

- SOYA
In the domestic market of soybeans there is a stabilization of prices in ports after a period of decline. At the same time, some processing plants have started to slightly raise the purchase prices due to the containment of the supply from manufacturers.

Jan 17 - IGC trims global corn crop forecast, US estimate cut
The International Grains Council on Thursday cut its forecast for 2024/25 global corn production, largely reflecting a downward revision for the United States. The inter-governmental body, in a monthly update, trimmed its global corn crop forecast by 6 million metric tons to 1.219 billion tons. 

Jan 17 - Brazil 2024/25 soy output seen as record ahead of crop tour, Agroconsult says
A Brazilian agribusiness consultancy on Thursday slightly raised its soybean output forecast for the 2024/25 crop year ahead of a countrywide expedition to survey fields. Agroconsult told a press conference local farmers will reap a record 172.4 million metric tons, compared with the 172.2 million tons forecast before.

Jan 16 - NOPA December US soy crush soars to record 206.604 million bushels
The monthly U.S. soybean crush jumped to the highest on record in December as several new processing plants have come online in recent months, according to National Oilseed Processors Association (NOPA) data released on Wednesday. NOPA members, which account for at least 95% of U.S.-processed soybeans, crushed 206.604 million bushels of the oilseed last month, up 6.9% from the 193.185 million bushels crushed in November and up 5.8% from the December 2023 crush of 195.328 million bushels. 

Jan 16 - Sun to beat down on Argentine farmland before rains bring relief
Argentina's soy and corn crops will likely endure high temperatures for the next two days before heavy rains bring respite, according to a forecast by the Buenos Aires Grains Exchange released on Wednesday. The heatwave, which began earlier this week as the Southern Hemisphere summer intensifies, will ripple across the agricultural heartland with temperatures above 40 degrees Celsius (104 Fahrenheit).

Jan 16 - Export of wheat from the Black Sea slowed down (SovEkon)
Russian wheat exports in January amounted to 1.8-2.2m tons, compared to 3.6m tons a year earlier, according to SovEkon. Ukraine's wheat exports for the same period are estimated at 0.8m tons compared to 1.6m tons a year earlier. Wheat exports from the Black Sea have slowed on the back of lower supply.

According to SovEkon, in the first two weeks of January, Russia shipped 0.9 million tons of wheat, compared to 1.4 million tons a year earlier. During the same period, Ukraine shipped 0.3m tons of wheat, compared to 0.5m tons last year.

Exports have slowed amid declining supply. As of December 1, Russian wheat reserves among farmers were 18.7m tons, compared to 24.8m tons a year ago. SovEkon estimates total Russian wheat reserves at the end of the 2024/25 season at 10.0 mt (6.3 mt of market reserves + 3.7 mt in the state intervention fund) compared to 20.2 mt (16.0 mt + 4.2 mt) a year earlier.

SovEkon estimates Ukrainian final wheat reserves in the 2024/25 season at 0.8 million tons against 1.2 million tons in 2023/24 and 4.2 million tons in 2022/23. Data on current stocks have not been published since 2022.

At the same time, wheat prices in the ports are rising. By mid-January, prices of Ukrainian wheat with 11.5% protein in the ports of Odessa increased by $5 compared to the beginning of December to $215/t (CPT). Prices of Russian wheat in the ports of Novorossiysk since the beginning of December increased by $7 to $170/t (CPT).

Relatively low stocks will limit exports and support quotes later in the season. SovEkon estimates Russian exports at 43.7m tons compared to the US Agriculture Ministry's 46.0m tons. Given the volumes exported and the quotas, the current valuation of Russian exports to the US MoMA seems unrealistic to us. Ukrainian wheat exports are estimated at 16.1 million tons versus 16.0 million tons as estimated by the U.S. Agriculture Ministry.

Jan 15 - Brazil's Conab raises soybean output view to 166.32 million T
Brazilian crop agency Conab on Tuesday raised its forecast for domestic soy production in the 2024/2025 season to 166.32 million metric tons, from 166.21 tons previously, citing good weather and a minor adjustment in the growth of the oilseed's planted area. The new forecast for soy production in Brazil, the world's biggest producer and exporter, is 12.6% higher than the 2023/24 harvest and a record.

Jan 15 - NOPA December US soybean crush seen at record 205.498 million bushels
The U.S. soy crush likely swelled to a record high in December, boosted by ample crushing supplies and expanded processing capacity as several new plants have recently come online, according to analysts polled ahead of a National Oilseed Processors Association report due on Wednesday. The report will include crush data from two facilities that opened last year in Cherryvale, Kansas, and Casselton, North Dakota, for the first time, NOPA told Reuters.

Jan 15 - EU 2024/25 soft wheat exports down 35% by Jan 12
Soft wheat exports from the European Union since the start of the 2024/25 season in July had reached 11.49 million metric tons by Jan. 12, down 35% from a year earlier, data published by the European Commission showed on Tuesday. EU barley exports totalled 2.26 million tons, down 32% year on year.

Jan 15 - Jordan buys estimated 60,000 T wheat in tender, traders say
Jordan's state grains buyer purchased about 60,000 metric tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house CHS at an estimated $267.60 a ton cost and freight (c&f) for shipment in the second half of March, they said.

Jan 14 - Pace of soy harvest in Brazil's biggest farm state is slowest in 7 years, AgRural says
Rains are disrupting the start of Brazil's 2024/25 soybean harvest in Mato Grosso, agribusiness consultancy AgRural said on Monday, adding that the pace of work in the country's biggest farm state is the slowest in seven years. Farmers across Brazil have reaped 0.3% of the soy area, down from 2.3% a year ago, according to AgRural data. Mato Grosso's own harvest, however, is at the slowest pace for this time since the 2017/2018 season, AgRural's analyst Adriano Gomes said in an interview. 

Jan 14 - Argentine heat wave to damage crops before next rains, expert says
Argentina's soybean and corn crops will have to endure a heat wave over the next few days that will affect their yields, leading meteorologist German Heinzenknecht said on Monday, before rains bring some relief by the start of the weekend. Argentina, a major world supplier of soy, corn and wheat, has seen its main agricultural region face a prolonged dry spell since the onset of the Southern Hemisphere's summer last month.

Jan 13 - China soybean imports hit record in 2024 ahead of Trump inauguration
China imported the most soybeans on record in 2024 as buyers concerned about rising U.S.-China trade tensions rushed to secure U.S. supplies ahead of President-elect Donald Trump's inauguration. The world's biggest buyer of the oilseed imported 105.03 million metric tons of soybeans in 2024, a 6.5% increase from a year ago, according to customs data. 

Jan 13 - Patria trims Brazil 2024/2025 soy crop forecast on weather; Safras hikes estimate
Brazilian agribusiness consultancies shared contrasting views on Friday as they released fresh estimates for the country's 2024/25 soybean crop, with Safras & Mercado hiking its forecast while Patria AgroNegocios trimmed its projection. Both firms still forecast the world's largest soybean producer and exporter to harvest a record crop this year, but Patria noted that adverse weather in some key states should keep production below the level of 170 million metric tons.

Jan 10 - Argentina soy, corn need rains to rebound from hot, dry weather
Rains are needed to refresh Argentina's parched soy and corn crops, the Buenos Aires Grain Exchange said on Thursday, after weeks of hot and dry weather. Showers should come within the next week, the exchange's weather analyst told Reuters on Wednesday. 

Jan 10 - Indonesia suspects virgin palm oil mixed into used cooking oil exports
Indonesia said on Thursday its exports of used cooking oil and palm oil residue in recent years had exceeded production capacity, indicating crude palm oil (CPO) had been mixed in and prompting it to issue regulation curbing shipments this week. The world's biggest exporter of palm oil on Wednesday issued a ministerial decree clamping down on shipments of used cooking oil and palm oil residue, aimed to avert a potential shortfall of CPO for domestic industries. 

Jan 10 - Ukrainian Weekly Commodity Market (SPIKE BROKERS )Sold in a week· corn DAP Odessa, Ukraine, Jan @207.50$· corn DAP Odessa, Ukraine, Feb @209$· DAP corn Mon. Italy, Jan-Feb @242€· wheat 12.5pro DAP Odessa, Ukraine, Jan @218$· wheat 11.0pro DAP Odessa, Ukraine, Jan @216$· wheat 10.5pro DAP Odessa, Ukraine, Jan @206$· soybean without GMO DAP Odessa, Ukraine, Jan @19'950 UAH· sunflower oil DAP Odessa, Ukraine, Jan @1'055$- Ukraine : Exports from Ukraine of grain, oilseeds and their products in December according to the UAIS State Customs Service amounted to: corn - 2 497 thousand tons, wheat - 788.5 thousand tons, barley - 122.3 thousand tons, soybeans 343.9 - thousand tons, rape - 130  thousand tons, sunflower - 1.27 thousand tons, sunflower oil - 400.2 thousand tons, soybean oil - 43.4 thousand tons, cake - 342.1 thousand tons.- World : China is accelerating its efforts to ensure food security and plans to increase grain production by 50 million tons by 2030, which is 7% more compared to last year's record harvest of 706.5 million tons. The focus is on increasing the yield of corn, rice, wheat, soybeans and rapeseed.- Europe : Imports of corn to the EU between July 1 and January 6 is 10.1 million tons, which is 5% more than the same period last year. Ukraine's share in total imports is up to 55.1% ( 55.7% a year ago). The absolute value increased to 5.5 million tons (5.3 million tons a year ago). Brazil and the United States share 16% and 15.3% respectively (29.1% and 1.1% a year ago). The absolute value of these countries is 1.6 million tons and 1.5 million tons relative (2.8 million tons and 0.1 million tons a year ago).- CORNThe European corn market remains inactive after the holidays, which is typical for the beginning of the year.At the same time, the situation in the domestic market of Ukraine is opposite. The activity of market participants is high, the demand from buyers is growing, which maintains the dynamics of trading. There are also enough offers on the market. In the ports of Odessa, corn was traded on average at 206-209$ DAP.- WHEATAfter the New Year holidays, the wheat market in Ukraine intensified. The food grain demand is especially high. The spread between food and forage wheat has expanded to $8-$10, which emphasizes the premium quality of high protein grain.- SUNFLOWERThere was a gradual increase in prices from processors in the sunflower market, who sought to intensify purchases after the recent price correction. The supply of oilseeds remained restrained. As a result, sunflower prices increased by an average of 300-400 UAH per ton at 46% oil content.Oil prices in the spot market were traded on average at 1050-1060$ CPT port. Sunflower meal granulated traded at 205-215$ CPT port.- SOYAWithin a week, soybeans prices on the domestic market decreased due to the active offer from sellers and the restraint of buyers. Demand is weak, due to low activity in the foreign market and the expectation of further reduction in price. This creates an imbalance, resulting in conditions dictated by buyers.

Jan 09 - Dry spell puts southern Brazil soy farmers on alert as rains pound central regions
Dry weather is limiting soybean development in Brazil's southernmost state, putting farmers on alert there at the same time as excessive rain is set to disrupt early harvest work in central areas of the country, according to meteorologists. Expectations for the 2025 soy harvest in Brazil, the world's largest producer and exporter, are sitting above 170 million metric tons. But output in Rio Grande do Sul, where rains have been scarce, is essential for achieving the target, which would be a record, according to some private consultancies. 

Jan 09 - Indonesia curbs exports of used cooking oil, palm residue to help domestic users
Indonesia has clamped down on exports of used cooking oil (UCO) and palm oil residue to ensure supply to domestic cooking oil and biodiesel industries, the government said in a new regulation on Wednesday. The step by the world's top producer and exporter of palm oil aims to help attain a new mandate starting from this year, of mixing 40% of palm oil-based fuel with diesel fuel, called B40, up from 35% previously, it said.

Jan 08 - China, lower grain prices bolster Brazil beef and chicken export prospects
Beef and chicken exports from Brazil, the world's largest supplier of both meat types, may break new records in 2025, two industry groups said on Tuesday after the release of annual trade data. Their optimism reflects the positive effects of lower grain prices and a weak Brazilian currency, which could continue to bolster meat exports and local companies including JBS and BRF. 

Jan 08 - Argentina's soy belt may be in for an alarmingly dry January - Braun
It seems that Argentine farmers simply cannot catch a break. Despite much-needed rainfall during planting, bone-dry conditions are set to grip the country's farmland through at least mid-January, greatly increasing odds that soybean yields will disappoint for a sixth consecutive season.

Jan 07 - Another US-China trade war may drop US soybean prices below $9/bushel, Rabobank says
U.S. soybean prices could slump below $9 a bushel, well below farmers' cost of production and the lowest since 2020, if President-elect Donald Trump's threatened tariffs spark another trade war with China, analysts with Rabobank said. The trade war could allow Brazil to further dominate China's oilseed imports and supply up to a record-large 80% of Beijing's total import needs, analysts said in an internal RaboResearch report made public Monday. 

Jan 07 - Syria unable to import wheat or fuel due to US sanctions, trade minister says
Syria is unable to make deals to import fuel, wheat or other key goods due to strict U.S. sanctions and despite many countries, including Gulf Arab states, wanting to do so, Syria's new trade minister said. In an interview with Reuters at his office in Damascus, Maher Khalil al-Hasan said Syria's new ruling administration had managed to scrape together enough wheat and fuel for a few months but the country faces a "catastrophe" if sanctions are not frozen or lifted soon.

Jan 06 - US biofuel producers ramped up in Oct as profitability improved, data shows
U.S. renewable diesel and biodiesel producers ramped up operations in October to multi-month highs, helped by stronger margins for the biofuels, according to data compiled by advisory group AEGIS Hedging. Renewable diesel producers utilized 77% of their total operable capacity in October, the highest since July 2024, the data showed. Biodiesel plant utilization rose to 89%, the highest since June 2023. 

Jan 06 - Hot Argentine summer is starting to damage crops, exchanges say
A hot, dry austral summer is beginning to cause damage to Argentina's 2024/25 soybean and corn crops, the country's two main grains exchanges said on Friday, after abundant spring rains had until recently provided excellent growing conditions. Until a few weeks ago, the Buenos Aires grains exchange (BdeC) had reported virtually no signs of crop damage thanks to wet spring weather.

Jan 04 - In 2024/25 MY, Egypt displaces Turkey in the rating of Russian wheat importers - experts

At the end of the first half of the 2024/25 MY (July-December) Egypt imported 5.3 mln tonnes of Russian wheat, which is 1.8 times more than in the same period a year earlier (2.9 mln tonnes). Such an assessment was released by experts of the analytical center of Rusagrotrans JSC, Interfax reports .
"With this indicator, Egypt leads in purchases of Russian wheat in the first half of the season. Bangladesh came in second place for the first time - 2.14 mln tonnes against 1.9 mln tonnes in July-December 2023. Turkey moved from first place last season to third place this season with a volume of 2.08 mln tonnes. Moreover, it reduced imports from Russia almost 1.5 times, which is due to the import restrictions imposed in the current season,” the analysts said.

Jan 03  - Ukrainian Weekly Commodity Market 

WHEAT
DAP-Port Danube (11.5%) - 210-213 $/t
DAP-Deep Sea Ports (11.5%) - 208-213 $/t

Chicago wheat quotes were adjusted after active growth during previous sessions. On Euronext wheat significantly grown in euros, but due to the strong exchange rate on Friday ʼ, in dollar terms it is not just a lack of growth, and even a slight drop in quotations.
· According to the State Customs Service, wheat export from Ukraine since the beginning of the season amounted to 9.87 million tons.
· Taiwan will hold a tender for the purchase of 114.65 thousand tons of food wheat from the United States.

Activity in the Ukrainian market remained limited, and nominal price levels were kept in the previous ranges.

CORN
DAP-Port Danube - 205-208 $/t
DAP-Deep Sea Ports - 203-206 $/t

Corn quotes showed minimal strengthening due to the lack of new fundamental factors.
· According to the State Customs Service, corn exports from Ukraine since the beginning of the season (Oct-Sep) reached 7.08 million tons.
· Weekly volumes of bioethanol production in the United States amounted to 1.111 million barrels per day, which is 3 thousand barrels per day higher than the figures of the previous week. Its reserves in the country for the week increased by 565 thousand barrels, to 23.639 million barrels.

Prices on the Ukrainian market did not show significant changes in the conditions of virtually no liquidity of trade.

Prices in the Ukrainian market remained in the previous limits, while the activity of the offer was expected to fade in the festive period.

EURUSD – 1,0282
USDUAH - 42.0385 (NBU)

Jan 03 - StoneX raises forecast for Brazil's 2024-2025 soybean crop
Brazil's 2024-2025 soybean crop is expected to reach 171.4 million metric tons, consultancy firm StoneX said on Thursday, increasing its forecast from the 166.2 million tons it had estimated in December. The upward revision was driven by higher expectations for the area planted with the oilseed in the South American country and increased yields, according to StoneX, which estimated production to be 14.4% higher than in the previous season. 

Jan 03 - Indonesian firms get 1-1/2 months to implement new B40 biodiesel mix
Indonesian companies will get a 1-1/2 month transition period to meet the new B40 biodiesel requirement, Deputy Energy and Mineral Resources Minister Yuliot Tanjung told reporters. Indonesia had planned to launch the mandatory mix of 40% palm oil fuel in biodiesel on Jan. 1, but industry players said they are still waiting for the technical regulations.