Market update week 11
The quality of U.S. winter wheat has seen some fluctuations. In Kansas, ratings declined by two percentage points to 52% in the good-to-excellent category. Texas experienced a sharper drop, with ratings falling from 34% to 28% good/excellent. Conversely, Oklahoma saw an 11-percentage-point improvement, reaching 46% good/excellent, though still trailing last year’s 65% rating.
The quality of U.S. winter wheat has seen some fluctuations. In Kansas, ratings declined by two percentage points to 52% in the good-to-excellent category. Texas experienced a sharper drop, with ratings falling from 34% to 28% good/excellent. Conversely, Oklahoma saw an 11-percentage-point improvement, reaching 46% good/excellent, though still trailing last year’s 65% rating.
Grain and oilseed prices continue to face downward pressure due to the strengthening euro against the U.S. dollar, which briefly reached 1.0950 yesterday. This comes amid a volatile market environment, further unsettled by ongoing trade tensions among major global grain exporters, including the United States, China, and Canada.
Grain and oilseed prices continue to face downward pressure due to the strengthening euro against the U.S. dollar, which briefly reached 1.0950 yesterday. This comes amid a volatile market environment, further unsettled by ongoing trade tensions among major global grain exporters, including the United States, China, and Canada.
The USDA’s most recent monthly report, released yesterday, outlined global stock figures for the 2024/2025 season as follows:
• Wheat: 260.1 million tons, up from last month’s estimate of 257.6 million tons but lower than the 269.5 million tons recorded in 2023/2024.
• Corn: 288.9 million tons, slightly below the previous month’s projection of 290.4 million tons and significantly lower than the 314 million tons in 2023/2024.
• Soybeans: 121.4 million tons, down from the prior estimate of 124.3 million tons but higher than the 112.6 million tons reported for 2023/2024
The USDA’s most recent monthly report, released yesterday, outlined global stock figures for the 2024/2025 season as follows:
• Wheat: 260.1 million tons, up from last month’s estimate of 257.6 million tons but lower than the 269.5 million tons recorded in 2023/2024.
• Corn: 288.9 million tons, slightly below the previous month’s projection of 290.4 million tons and significantly lower than the 314 million tons in 2023/2024.
• Soybeans: 121.4 million tons, down from the prior estimate of 124.3 million tons but higher than the 112.6 million tons reported for 2023/2024