December 15, 2023 – Market Update

US farm markets closed mostly higher, on Thursday.
Wheat rebounded after Wednesday’s strong selling pressure.
The dollar’s collapse to 4-1/2 month lows supported other grain prices.
Some much-needed showers will arrive in the northern third Brazil’s crop areas late next week.
Argentina’s government has reopened its grain export registry.
European wheat prices fell for a second day in a row, as the euro hit a two-week high against the dollar.
The United Kingdom’s wheat harvest this year is estimated to have fallen to 13.98 million metric tons.
Saudi Arabia’s state wheat buying agency GFSA on Thursday said it has issued an international tender to purchase 715,000 metric tons of milling wheat.
Ukraine’s grain exports have fallen to around 15.3 million metric tons so far in the 2023/24 July-June marketing season.
Russian 2023 grain harvest will be more than 146 MMT in net weight, one of the highest results in history.
Chinese corn breeders are preparing for the planting of more than double the amount of genetically modified corn next year than in 2023.
Malaysian palm oil prices rose for the first time in three days, but weak exports capped the upside.
Prices for Aussie feed wheat and barley have fallen in the past week as bigger-than-expected yields hit the bins in Victoria.