{"id":9391,"date":"2024-11-04T16:04:08","date_gmt":"2024-11-04T21:04:08","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=9391"},"modified":"2024-11-04T16:04:08","modified_gmt":"2024-11-04T21:04:08","slug":"agricultural-commodities-struggle","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/ar\/agricultural-commodities-struggle\/","title":{"rendered":"Agricultural Commodities Struggle"},"content":{"rendered":"\n\n\n
US agricultural commodities have a hard time gaining despite strong export data.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

Wheat<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

Wheat Struggles to Find Upward Movement<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n
    \n
  • Wheat remains below the $5.7\/bushel mark despite escalating tensions in the Middle East and drought concerns in the central US plains region.<\/li>\n
  • Despite lowering its 2024\/25 production estimate, the USDA increased its ending-stocks forecast to 257.72 million metric tons, exceed expectations by 1.6 million tons.<\/li>\n
  • Average weekly exports in the US for October appreciated nearly +33% compared to the same period last year.<\/li>\n
  • The International Grains Council (IGC) also maintained its 2024\/25 global wheat production estimate at 798 million metric tons.<\/li>\n
  • Forecasts for more rainfall in Argentina and Brazil are also supporting South American crop prospects, adding to bearish sentiment.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
    Corn<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
    \n

    Prices Supported on Supply Turbulence<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
    \"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
    \n
      \n
    • Corn futures rose to $4.20 per bushel in October, reaching a two-week high amid strong demand and supply concerns.<\/li>\n
    • Export demand remained robust, underscored by amplified average weekly exports increasing +44% compared to last year.<\/li>\n
    • Current estimates show that corn bushels used for ethanol production are slightly below the USDA’s target of 5.45 billion bushels for 2024\/25, however, ethanol production typically peaks in the summer when driving demand is highest.<\/li>\n
    • Additionally, supply disruptions in Ukraine and the Middle East further impacted the market, with concerns over exports from the Black Sea region contributing to global supply constraints and subsequent price increases.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
      Soybeans<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
      \n

      Futures Plummeted amid 10yr Historical Harvest Rate<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
      \"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
      \n
        \n
      • Soybean futures dipped below $10 per bushel, nearing a two-week low amid abundant supplies from a record US crop.<\/li>\n
      • Average weekly exports for October outpaced +9.8% in comparison to same period last year.<\/li>\n
      • The USDA’s latest report indicated that US farmers are harvesting soybeans at the fastest rate in over a decade, reaching 89% completion, just shy of the 91% expected by analysts.<\/li>\n
      • Meanwhile, in Brazil, improved weather helped speed up soybean planting, which reached 36% of the anticipated area by October 24, an 18-point jump from the previous week.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"

        US agricultural commodities have a hard time gaining despite strong export data. Wheat Wheat Struggles to Find Upward Movement Wheat remains below the $5.7\/bushel mark despite escalating tensions in the Middle East and drought concerns in the central US plains region. Despite lowering its 2024\/25 production estimate, the USDA increased its ending-stocks forecast to 257.72 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9391","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/9391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/comments?post=9391"}],"version-history":[{"count":1,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/9391\/revisions"}],"predecessor-version":[{"id":9392,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/9391\/revisions\/9392"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/media?parent=9391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/categories?post=9391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/tags?post=9391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}