

๐ฐGlobal Grain Keyword News

Here are this week's key updates in the global grain market. Stay informed on the latest trends in grain exports, price movements, and production forecasts from major countries. Let's dive into the top news stories and understand the current market dynamics.
1. Global wheat buyers wrong-footed by sharp rally in prices
Due to adverse weather conditions in Russia and Europe, wheat prices have surged by 30% since April, leading to supply shortages for wheat buyers in Asia, Africa, and the Middle East. Importers who purchased wheat earlier than usual now face higher prices, which are expected to be passed on to consumers. The International Grains Council has revised its 2024/25 wheat production forecast down by 3 million tons to 795 million tons. The rising wheat prices are likely to result in higher prices for bread, noodles, and pasta. The deteriorating weather conditions in Russia and Europe are expected to reduce wheat supply, significantly impacting global production and marketing in the second half of 2024.
๐ Read Full Article> Global wheat buyers wrong-footed by sharp rally in prices | Hellenic Shipping News Worldwide
๐ฌ Adverse weather in Russia and Europe causes a 30% surge in wheat prices, leading to supply shortages and anticipated price hikes for consumers.
2. CBOT wheat futures ease on profit-taking, end week lower
Chicago Board of Trade (CBOT) wheat futures fell for the second session on Friday. News of rain in Russia impacted prices, and traders took profits after a rally earlier in the week. Export sales of old-crop wheat for the week ending May 23 were reported at 381,700 metric tons. CBOT July wheat futures settled at $6.78-1/2 per bushel, down 2.69% for the week. South Korea's Major Feedmill Group (MFG) purchased about 63,000 metric tons of animal feed wheat in an international tender. Argentina's National Weather Service forecasted below-normal rainfall for the western part of the agricultural heartland over the next three months.
๐ Read Full Article> CBOT wheat futures ease on profit-taking, end week lower | Hellenic Shipping News Worldwide
๐ฌ While wheat prices fell due to the news of rain in Russia, decreased rainfall in Argentina presents a new variable.
3. Delayed Planting in Argentina, Russia Export Ban Lifts, But Uncertainty Clouds Wheat Market
The planting of wheat for the 2024/25 season in Argentina started two weeks late, with 601,400 hectares sown by May 30. Russia will not extend the export ban on durum wheat and plans to lift current restrictions by May 31. Russia's grain exports for the 2024/25 season are expected to reach up to 60 million tons. Ukraine has exported 46.273 million tons of grain by May. The EU exported 27.8 million tons of soft wheat during the 2023/24 season, with France, Romania, Poland, and Germany being the main exporters. In France, 61% of soft wheat crops are in good condition.
๐ Read Full Article> Grain Highlights 31.05.2024 | Grain Prices
๐ฌ While wheat planting and export forecasts remain uncertain for Argentina and Russia, Ukraine and the EU continue to show steady increases in their export volumes.
4. Bearish funds face dilemma early in US corn growing cycle
Large speculators have increased their net short position in CBOT corn futures and options, but potential weather scares may force them to reduce these shorts. By May 28, net shorts in corn grew from 121,162 to 133,477 contracts. The USDA crop progress report due Monday will be closely watched, and market sensitivity to weather changes is high. Soybeans and soybean oil fell slightly, while soybean meal saw net buying. Wheat hit 10-month highs due to declining Russian crop estimates, but net buying was minimal. Speculators also maintained net long positions in Minneapolis and Kansas City wheat futures.
๐ Read Full Article> Bearish funds face dilemma early in US corn growing cycle | Hellenic Shipping News Worldwide
๐ฌ Potential weather issues may lead to a reduction in corn shorts, while wheat remains volatile due to declining Russian crop forecasts.
5. Russia Lowers Grain Production Forecast, Potential State of Emergency Threatens Global Market
The Russian Grain Union has revised its 2024/25 grain production forecast for Russia from 134.2 million tons to 130.9 million tons. In May, 2.029 million tons of wheat were exported from the port of Novorossiysk, a 10.6% increase compared to May 2023. The Russian government is expected to declare a nationwide state of emergency by the end of this week due to frost damage. In Argentina, wheat planting area decreased by 9.7%, but it is expected to increase in the new season.
๐ Read Full Article> Grain Highlights 03.06.2024 | Grain Prices
๐ฌRussia's lowered grain production forecast and potential state of emergency highlight the challenges in the global grain market.
GrainScanner updates new articles every week.
If you're interested in Greenlabs, please contact us.
GrainScanner: Your Partner in Agri-Food Trade

๐ฐGlobal Grain Keyword News
Here are this week's key updates in the global grain market. Stay informed on the latest trends in grain exports, price movements, and production forecasts from major countries. Let's dive into the top news stories and understand the current market dynamics.
1. Global wheat buyers wrong-footed by sharp rally in prices
Due to adverse weather conditions in Russia and Europe, wheat prices have surged by 30% since April, leading to supply shortages for wheat buyers in Asia, Africa, and the Middle East. Importers who purchased wheat earlier than usual now face higher prices, which are expected to be passed on to consumers. The International Grains Council has revised its 2024/25 wheat production forecast down by 3 million tons to 795 million tons. The rising wheat prices are likely to result in higher prices for bread, noodles, and pasta. The deteriorating weather conditions in Russia and Europe are expected to reduce wheat supply, significantly impacting global production and marketing in the second half of 2024.
๐ Read Full Article> Global wheat buyers wrong-footed by sharp rally in prices | Hellenic Shipping News Worldwide
๐ฌ Adverse weather in Russia and Europe causes a 30% surge in wheat prices, leading to supply shortages and anticipated price hikes for consumers.
2. CBOT wheat futures ease on profit-taking, end week lower
Chicago Board of Trade (CBOT) wheat futures fell for the second session on Friday. News of rain in Russia impacted prices, and traders took profits after a rally earlier in the week. Export sales of old-crop wheat for the week ending May 23 were reported at 381,700 metric tons. CBOT July wheat futures settled at $6.78-1/2 per bushel, down 2.69% for the week. South Korea's Major Feedmill Group (MFG) purchased about 63,000 metric tons of animal feed wheat in an international tender. Argentina's National Weather Service forecasted below-normal rainfall for the western part of the agricultural heartland over the next three months.
๐ Read Full Article> CBOT wheat futures ease on profit-taking, end week lower | Hellenic Shipping News Worldwide
๐ฌ While wheat prices fell due to the news of rain in Russia, decreased rainfall in Argentina presents a new variable.
3. Delayed Planting in Argentina, Russia Export Ban Lifts, But Uncertainty Clouds Wheat Market
The planting of wheat for the 2024/25 season in Argentina started two weeks late, with 601,400 hectares sown by May 30. Russia will not extend the export ban on durum wheat and plans to lift current restrictions by May 31. Russia's grain exports for the 2024/25 season are expected to reach up to 60 million tons. Ukraine has exported 46.273 million tons of grain by May. The EU exported 27.8 million tons of soft wheat during the 2023/24 season, with France, Romania, Poland, and Germany being the main exporters. In France, 61% of soft wheat crops are in good condition.
๐ Read Full Article> Grain Highlights 31.05.2024 | Grain Prices
๐ฌ While wheat planting and export forecasts remain uncertain for Argentina and Russia, Ukraine and the EU continue to show steady increases in their export volumes.
4. Bearish funds face dilemma early in US corn growing cycle
Large speculators have increased their net short position in CBOT corn futures and options, but potential weather scares may force them to reduce these shorts. By May 28, net shorts in corn grew from 121,162 to 133,477 contracts. The USDA crop progress report due Monday will be closely watched, and market sensitivity to weather changes is high. Soybeans and soybean oil fell slightly, while soybean meal saw net buying. Wheat hit 10-month highs due to declining Russian crop estimates, but net buying was minimal. Speculators also maintained net long positions in Minneapolis and Kansas City wheat futures.
๐ Read Full Article> Bearish funds face dilemma early in US corn growing cycle | Hellenic Shipping News Worldwide
๐ฌ Potential weather issues may lead to a reduction in corn shorts, while wheat remains volatile due to declining Russian crop forecasts.
5. Russia Lowers Grain Production Forecast, Potential State of Emergency Threatens Global Market
The Russian Grain Union has revised its 2024/25 grain production forecast for Russia from 134.2 million tons to 130.9 million tons. In May, 2.029 million tons of wheat were exported from the port of Novorossiysk, a 10.6% increase compared to May 2023. The Russian government is expected to declare a nationwide state of emergency by the end of this week due to frost damage. In Argentina, wheat planting area decreased by 9.7%, but it is expected to increase in the new season.
๐ Read Full Article> Grain Highlights 03.06.2024 | Grain Prices
๐ฌRussia's lowered grain production forecast and potential state of emergency highlight the challenges in the global grain market.
GrainScanner updates new articles every week.
If you're interested in Greenlabs, please contact us.
GrainScanner: Your Partner in Agri-Food Trade