[Daily Weather Tracking] Sporadic showers hit the corn and soybean producing regions of the USA.
The US National Weather Service's 6-10 day outlook from June 18th to 22nd shows that except for some areas in the northern plateau, northern basin, and northwest where temperatures are below normal, temperatures across the country are close to or above normal.
Intraday analysis: CBOT grain futures rise, how is the market fundamental data?
Due to market expectations that Russian wheat crops may be further damaged by the weather, and the US Department of Agriculture (USDA) has lowered its forecast for Russia's 2024-25 wheat production to the lowest level in three years, CBOT grain futures rose on Wednesday.
Benefiting from the weather in Russia, Chicago SRW wheat has continued to rise. How are soybeans and corn performing?
Expected price increases in Russia due to weather affecting crops, with corn slightly down and the soybean market remaining stable before the USDA report.
The weather in the central and western United States remains cool and dry, which is beneficial for planting summer crops.
The 6-10 day outlook from the National Weather Service shows that most areas, except for the Northern Plateau and Northwest region, will experience temperatures and rainfall close to or above normal.
Due to the influence of high temperatures, CBOT corn may rebound in the next few weeks.
According to the crop growth report released by the US Department of Agriculture, 74% of corn is in good to excellent condition, a decrease of 1 percentage point from last week but a 14% increase from the same period last year.
Last week's soybean export inspection volume met market expectations.
As of the week ending June 6, 2024, the export inspection volume of soybean in the United States was 231,002 tons, revised from 361,217 tons in the previous week, with an initial value of 348,644 tons.
The US producers are using dry weather to plant the remaining areas of corn and soybean.
The National Weather Service in the USA's outlook for June 15 to June 19 shows that temperatures in most parts of the country may be higher than normal, except for the cooler areas of the Northern High Plains and Northwest.
Focus on the USDA's adjustment of Brazil's soybean production estimate in the monthly report preview.
The USDA June report will be released at 0:00 Beijing time on June 13th. How do we see the future market for soybean oil and soybean meal?
U.S. Corn Export Sales Beat Forecasts
Export sales of U.S. corn rose just above the high-end of analyst predictions for the week as soybean export sales again fell on the low side.
Huatai Securities: New soybean supply and demand easing, global corn production may be reduced
The USDA slightly lowered the forecast for Brazilian soybean production by 1 million tons due to the severe flooding in southern Brazil. The impact is still ongoing, and continuous follow-up is required.
The sharp consolidation of the Russian wheat market and market share ambitions have led to increased global price fluctuations
① Since the Russian-Ukrainian conflict, the Russian food market has been controlled by a small number of companies. This has strengthened the Russian government's supervision of the export market, but it has also had some side effects; ② Although global commodity traders are still trading food in the Russian market, they are unable to accurately understand the country's food situation, causing the global market to be in a tight state.
[Daily Weather Tracking] The weather is cool and dry in most parts of the US corn growing belt
The US National Weather Service's 6-10 day forecast from May 27 to 31 predicts that temperatures in most parts of the Midwest may be lower than normal.
[Daily Weather Tracker] In most parts of the western United States, dry weather favors field work in late spring
The US National Weather Service forecast for 6 to 10 days from May 26 to 30 predicts that temperatures are close to or above normal in most parts of the country.
The market is concerned about Brazil's smaller soybean production
CBOT corn and wheat closed lower on Friday, while soybean prices rose. However, for the week, most of these grains showed a downward trend
[Daily Weather Tracker] Showers again appeared in Ohio, further delaying field work
The US National Weather Service's 6-10 day forecast from May 22 to 26 predicts that rainfall is likely to be close to or above normal in most parts of the US.
The Meizu Market is waiting for a bigger weather story to unfold
Most of the CBOT grain markets fell below the close yesterday, with the exception of soybeans and soybean oil in recent months. Is this a healthy adjustment or a top-forming act?
[US Weather Hype Guide] US soybean planting rate is lower than market expectations
As of May 12, the US soybean cultivation rate was 35%, lower than market expectations of 39%. The previous week was 25%, the same period last year was 45%, and the five-year average was 34%.
The export inspection volume of soybeans increased month-on-month, exceeding market expectations!
According to data from the US Department of Agriculture, as of May 9, 2024, the US soybean export inspection volume was 40,6052 tons, higher than expected. After the previous week's revision, it was 35,8082 tons, with an initial value of 34,654 tons.
Chicago wheat and corn futures soar, US Department of Agriculture warns of the risk of tightening food supply
According to the USDA forecast, while economies are still dealing with stubborn inflation, global food supply will tighten in the next fiscal year, which may lead to a rise in food prices.
USDA May Monthly Report: US soybean supply and demand forecast data
According to the USDA monthly report, the US soybean production for 2024/2025 is expected to be 4.45 billion bushels in May, and the market is expected to be 4.453 billion bushels.