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Agriculture News August 16, 2024

16 thg 8, 2024

Corn


The weekly Export Sales report showed 120,477 MT of old crop corn sold in the week of August 8, well below estimates. New crop sales were tallied at 800,518 MT, edging out the high side of trade expectations. Unknown was the purchaser of 345,000 MT, with Mexican importers buying 257,900 MT.


The International Grains Council estimates world corn production 1 million metric tonnes higher at 1.226 billion metric tonnes this morning. Stocks were down 1 MMT to 277 MMT.


Corn prices declined. The settlement price for the September Corn contract on August 15 was 375 cents per bushel, down 1.57% compared to the previous session.


Soybean


Soybean export sales came in at 221,715 MT in Thursday’s Export Sales report for the 2023/24 crop. Sales for the 2024/25 marketing year were at 1.344 MMT for the week that ended in August 8, a MY high. China purchased 536,000 MT, with unknown destinations in for 483,000 MT. 


Meal bookings were at 113,686 MT for the current, with 140,096 MT sold for the next marketing year. Bean oil saw just 737 MT in sales.


NOPA data released this morning showed July crush at 182.88 million bushels among its members, slightly above estimates. That was a 5.5% increase over the same month in 2023 and 4.15% larger than in June.


Soybean oil stocks were tallied at 1.499 billion pounds as of July 31, a drop of 1.83% from a year ago and a draw of 7.59% from the end of June.


World soybean production was raised by 4 MMT via the International Grains Council’s latest estimate to 419 MMT. Consumption was up 2 MMT, as stocks were raised by 3 MMT to 82 MMT.


The September Soybean contract prices slightly reversed. The settlement price on August 15 was 951.5 cents per bushel, down 0.08% compared to the previous session.


Wheat


All wheat export sales were tallied at 339,925 MT during the week of August 8, in the middle of the 200,000 and 500,000 MT estimates in this morning’s Export Sales report. The largest buyer was Mexico at 126,000 MT.


International Grains Council updates from this morning showed their world wheat production estimate at 799 MMT, a 2 MMT cut from the previous estimate. Consumption was raised by 1 MMT as stocks were down 3 MMT to 266 MMT. 


Algeria purchased 500,000 MT of durum wheat in their tender on Thursday.


The September Wheat contract prices declined. The settlement price on August 15 was 528.25 cents per bushel, down 1.22% compared to the previous session.

Nguồn: Barchart

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