WTI

All US grain prices were down this week with exception of soymeal. In spite the late week bounce, corn futures ended the week with 1.24% loss. Ditto for soybeans that minimized the week’s losses, only losing 0.43%.  Soymeal, in contrast, posted a 0.41% gain.  Soybean oil was feeling pressure from competing veg oils and fell 5.46%. 

According to the US Department of Agriculture global pasta demand surged during the first half of 2020, as pandemic stay-at-home orders boosted consumption of pasta products. Global exports of pasta surpassed 5 million tons during the 2019/20 trade year and remained strong throughout 2020/21. Tightening supplies of durumwheat, however, have posed additional challenges for the

The outlook for 2021/22 U.S. wheat this month is for reduced supplies, slightly higher domestic use, unchanged exports, and decreased ending stocks. Supplies are reduced as imports are lowered 10 million bushels to 135 million on the import pace. Food use is raised 2 million bushels to 964 million, reflecting an upward revision of 2020/21

Coceral has lowered its estimate of 2021 soft wheat production in the European Union and Britain to 143.4 million tonnes from 145.8 million projected in May. The revision was mainly due to lower than expected crops in France, Germany, and Scandinavia. Particularly, soft wheat production for the EU’s 27 members was trimmed to 128.6 million

Private exporters reported again to the U.S. Department of Agriculture another export sales of 132,000 metric tons of soybeans for delivery to China during the 2021/2022 marketing year. The marketing year for soybeans began Sept. 1.

According to the US Department of Agriculture, US weekly wheat net sales, for the period August 27-September 2, 2021, were 388,400 metric tons (MT). These were up 32% from the previous week and 54% from the prior 4-week average. The first buyer was Mexico with 128.100 MT. Exports were 390,100 MT, down 7% from the

US farm markets continued to move lower in a generalized sell-off yesterday . Traders are expecting USDA to raise yield and production forecasts in the next World Agricultural Supply and Demand Estimates (WASDE) report, out on this morning, while yesterday leaked a probable upward revision in corn and soybean areas. Consequentially, corn prices finished the

ASX wheat September contract down A$1.50/t to $336.50/t; ASX wheat January 2022 down $3/t to $335/t. Chicago wheat December contract down US17.25c/bu to 692.25c/bu; Kansas wheat December contract down 22c/bu to 682.75c/bu; Minneapolis wheat December down 22c/bu to 872.5c/bu; MATIF wheat December contract down €2.50/t to €239.50/t; MATIF corn November contract down €1.25 to €213.50/t;

Aussie FOB prices for wheat and barley have taken a tumble in the past week to reflect a surge in grower and trade selling and a downtrend in Northern Hemisphere cereal values. Meantime, ABARES increased its estimates for Australia’s winter crops including wheat and barley in its Australian Crop Report September released on Tuesday and