agri trends
Agri Trends: Russia declared a state of agricultural emergency due to frost damage
Maize: The USDA left the 2023/24 South American production estimates unchanged as shown by the July World Agricultural Supply and Demand Estimates (WASDE) report. CBOT corn prices decreased by approximately 30% year-on-year increasing U.S. farmer’s reluctance to sell corn and presenting some price support. Strong U.S crop rating however[...]
Agri Trends: South Africa’s white maize production estimate revised up
Maize: CBOT corn prices rose by 3,1% both week-on-week and month-on-month, buoyed by weather-related concerns in the U.S. during planting. However, the USDA reported that U.S. corn planting reached 27% complete on April 29, up from 12% the previous week and surpassing the five-year average of 22%. CBOT corn[...]
Agri Trends: El Nino weather led to white maize production cuts in Southern Africa
Maize: As the Southern Hemisphere corn production season draws to a close, the market focus shifted to production prospects for the 2024/25 Northern Hemisphere production season which commenced in April. Given the El Nino weather effects, the South American production season is expected to end better than initially anticipated[...]
Agri Trends: Grains and Oilseed – SAFEX and CBOT maize prices followed divergent trends
Maize market trends International maize market CBOT corn prices continue to lose momentum, trading near three-year lows underscored by big harvests from South America. As a result, CBOT corn prices decreased by 7,8% compared to a month ago. Contributing to the ample global supplies are record corn stock levels[...]