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Agriculture News August 14, 2024

14 thg 8, 2024

Corn


USDA reported a sale of 137,160 MT of corn to Mexico for 2024/25 shipment this morning under the daily reporting system. 


Yesterday’s Crop Production report contained a national yield estimate of 183.1 bpa, a US record.


CONAB revised the 2023/24 Brazilian corn crop 0.21 MMT lower at 115.65 MMT this morning. They still don’t agree with USDA, which used a 122 MMT number in their monthly WASDE report on Monday.

 

Corn prices declined. The settlement price for the September Corn contract on August 13 was 377.75 cents per bushel, down 1.44% in the last session.


Soybean


USDA reported a sale of 137,160 MT of corn to Mexico for 2024/25 shipment this morning under the daily reporting system. 


Yesterday’s Crop Production report contained a national yield estimate of 183.1 bpa, a US record.


CONAB revised the 2023/24 Brazilian corn crop 0.21 MMT lower at 115.65 MMT this morning. They still don’t agree with USDA, which used a 122 MMT number in their monthly WASDE report on Monday.


The September Soybean contract continued its sharp decline. The settlement price on August 13 was 947.25 cents per bushel, down 2.47% from the previous session.


Wheat


USDA’s Crop Production report from Monday showed winter wheat yield at 53.2 bpa, with record yields reported out of several northern states, notably OR, MT, SD, MI and WI. The national spring wheat yield was a record 52.6 bpa, though NASS did reduce it by 0.9% from July.


Egypt’s GASC purchased just 280,000 MT of wheat in their tender on Monday, with the origins split by 180,000 MT of Ukrainian and 100,000 MT Bulgarian wheat. They are reportedly negotiating a large direct purchase of wheat outside of Monday’s tender, at somewhat higher money.


One complication with the large tender has been the 270 day delay for payment, along with uncertainties about freight costs over a longer than usual time span. 


The September Wheat contract continued to drop. The settlement price on August 13 was 528.75 cents per bushel, down 1.49% from the previous session.


Nguồn: Bartchart


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