{"id":8850,"date":"2024-02-13T15:58:28","date_gmt":"2024-02-13T20:58:28","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=8850"},"modified":"2024-02-20T16:04:34","modified_gmt":"2024-02-20T21:04:34","slug":"global-wheat-trends-in-feb","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/pt\/global-wheat-trends-in-feb\/","title":{"rendered":"Global Wheat, Corn, and Soybean Trends in February"},"content":{"rendered":"<p align=\"center\">February 13, 2024<\/p>\n<p style=\"text-align: center;\"><em>US wheat futures fall to 3-Week low amidst strong global supply and reduced domestic consumption<\/em><\/p>\n<hr \/>\n<h3>Wheat<\/h3>\n<p style=\"text-align: center;\"><b>US wheat weekly exports appear to be the lowest in 5 years due to the stronger global supply<\/b><\/p>\n<p><img decoding=\"async\" class=\"image_content aligncenter\" src=\"https:\/\/files.constantcontact.com\/cdf199da001\/b3d33762-a896-40ff-ab51-a95e1b8a6046.png?rdr=true\" alt=\"\" width=\"600\" data-image-content=\"\" \/><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Wheat futures in the US fell to $5.9 per bushel in February, the lowest in three weeks.<\/li>\n<li>Forecasts suggest stronger global supply and eased US consumption.<\/li>\n<li>The newest USDA WASDE report revised global wheat production upward for the current marketing year.<\/li>\n<li>Select Middle Eastern countries saw a 1-million-ton increase in production, easing foreign demand.<\/li>\n<li>Russia is set to produce 91 million tons of wheat, nearing last year&#8217;s record high. Available wheat for export from Russia is expected to reach an all-time high of 51 million tons.<\/li>\n<li>US demand was revised lower due to decreased food use.<\/li>\n<\/ul>\n<h3>Corn<\/h3>\n<p align=\"center\"><strong>Weekly US corn exports are on a downward trend and non-commercial short positions are increasing due to potential global supply surplus\u00a0<\/strong><\/p>\n<p align=\"center\"><img decoding=\"async\" class=\"image_content aligncenter\" src=\"https:\/\/files.constantcontact.com\/cdf199da001\/232a1166-60e4-482d-a2df-4e32c25ed030.png?rdr=true\" alt=\"\" width=\"600\" data-image-content=\"\" \/><\/p>\n<ul>\n<li>Chicago corn futures stabilized around $4.3 per bushel, nearing a more than-three-year low.<\/li>\n<li>Heavy rains are forecasted in Argentina, signaling a potential supply surplus.<\/li>\n<li>High planting rates in Brazil are contributing to pressure on corn prices.<\/li>\n<li>Brazilian farmers planted 27% of the expected second corn area at a record pace.<\/li>\n<li>Conab revised Brazil&#8217;s corn production estimate down to 113.7 million tons.<\/li>\n<li>USDA also reduced Brazil&#8217;s crop estimates while raising US 2023\/24 corn ending stocks to 2.172 billion bushels, surpassing expectations.<\/li>\n<\/ul>\n<h3>Soybeans<\/h3>\n<p align=\"center\"><strong>Short positions appear to be increasing amid lower export forecasts<img decoding=\"async\" class=\"image_content aligncenter\" src=\"https:\/\/files.constantcontact.com\/cdf199da001\/3ea1ccbd-ce88-42b5-be77-f717fd92cbd4.png?rdr=true\" alt=\"\" width=\"600\" data-image-content=\"\" \/><\/strong><\/p>\n<ul>\n<li>Soybean futures hit a 3-year low, staying under $11.9 per bushel.<\/li>\n<li>The USDA&#8217;s WASDE report heightened concerns about oversupply.<\/li>\n<li>Global production forecasts for the current marketing year increased, driven by a 1.7 million ton rise in Brazil&#8217;s crop.<\/li>\n<li>Brazil&#8217;s high output, rebounding from the prior year&#8217;s drought, continued to pressure soybean prices.<\/li>\n<li>Lower exports from the US raised forecasts for domestic ending stocks.<\/li>\n<li>China&#8217;s (the top soy importer) slow economic recovery and declining pig herd added to price pressure.<\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>February 13, 2024 US wheat futures fall to 3-Week low amidst strong global supply and reduced domestic consumption Wheat US wheat weekly exports appear to be the lowest in 5 years due to the stronger global supply &nbsp; Wheat futures in the US fell to $5.9 per bushel in February, the lowest in three weeks. [&hellip;]<\/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-8850","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/8850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/comments?post=8850"}],"version-history":[{"count":1,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/8850\/revisions"}],"predecessor-version":[{"id":8851,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/8850\/revisions\/8851"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/media?parent=8850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/categories?post=8850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/tags?post=8850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}