Corn and soybean prices fell after USDA estimates for US supplies were larger than markets had expected, but wheat failed to rise on a deep cut to world inventory hopes, finds CRM Agri.
The fall in crude oil markets at the end of last week has pressured vegetable oil and oilseed markets. After last week’s heatwave across the US, this week’s USDA crop progress report will be closely watched, say CRM Agri.
The main driver in the agri-commodities market this week was the grain stocks report from the US Department of Agriculture (USDA); it was released yesterday.
Feed wheat consumption in the Philippines is expected to be significantly lower in MY 2021-22 compared to the previous year due to the continued challenge of African swine fever (ASF).
Demand for Australian wheat from Asia is expected to gain momentum in coming months, with the 2020/21 Australian crop estimated to be the largest crop in the past four years.
In what is going to be a week focused on supply and demand with the next USDA WASDE out today, the most recent US Crop Progress report gave little in the way of shocks, says CRM AgriCommodities
There is a lot of uncertainty around future feed demand, globally, given the profound impact that COVID-19 has had on the global livestock sector, noted the Agricultural Market Information System (AMIS) market monitor.
Demand for feed grain from the New Zeland dairy sector remains soft despite milk prices being favorable, according to a report from ANZ Research - Agri Focus February 2020: Sun Sets on Golden Run.
The arrival of African Swine Fever (ASF) in the Philippines will impact overall food and feed grain consumption in 2019/20, according to a USDA GAINS report.
