Page 2 - Commodity Pricing News Today

Weather conditions have improved for farmers grappling with rain in Europe and enduring drought in Brazil. However, this does not translate into smooth sailing for grain markets.

Weather conditions have improved for farmers grappling with rain in Europe and enduring drought in Brazil. However, this does not translate into smooth sailing for grain markets.

At the onset of the week, US grain prices experienced an increase, but later faced downward pressure following the release of the USDA’s World Agricultural Supply and Demand Estimates (WASDE).

As the new year unfolds, the grain markets see a subdued start, following a year marked by notable declines in major contracts, as observed by analysts at CRM Agri.

Global poultry industry growth will accelerate from 1.1% this year to 1.5% to 2% due to lower feed costs, finds an industry outlook.

Soybean futures experienced a downturn in response to improved weather forecasts alleviating concerns over Brazil's crop.

After China ended antidumping tariffs on Australian barley in August, dramatically lowering imported barley prices by $11 per MT, Chinese importers secured about 20 shipments, or over 1 MMT, of that grain from Australia.

The EU Commission proposal to reduce the use of pesticides in the EU, a pillar of the EU Green Deal, is dead in the water.

World soybean production for 2023-2024 is forecast to expand by 7% year on year (y/y) to a record of 395 million tons, chiefly linked to bigger crops in South America, notes the latest update from the International Grains Council (IGC).

Lower energy prices resulted in a fall in shipping costs over the past month as seen through the sharp drop off in the Baltic Dry index (BDI), which gauges the cost of shipping dry bulk commodities such as grains.