{"id":9248,"date":"2024-06-17T15:47:12","date_gmt":"2024-06-17T19:47:12","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=9248"},"modified":"2024-06-24T15:48:46","modified_gmt":"2024-06-24T19:48:46","slug":"agriculture-market-supply-overshadows-demand","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/pt\/agriculture-market-supply-overshadows-demand\/","title":{"rendered":"Agriculture Market: Supply Overshadows Demand"},"content":{"rendered":"\n\n\n
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Agriculture futures hit from estimates of stronger-than-expected supply, while demand expectations remaining relatively stable.<\/em><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Wheat<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Wheat futures’ bullish momentum broke on strong crop from US<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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  • Front-month wheat futures are traded below $6.15 per bushel mark after dropping to a six-week low of $6.1, as dry weather and frosts affected key growing regions in Russia, the world’s largest grain exporter.<\/li>\n
  • Analysts have reduced their 2024 harvest estimates for Russia by over 10%, leading to a significant price increase.<\/li>\n
  • In contrast, the US shows signs of a strong crop, with 6% of the winter wheat harvest completed, surpassing the five-year average, with the best crop conditions in three years.<\/li>\n
  • Drier weather in Argentina allowed the country\u2019s wheat farmers to plant more than a fifth of this season\u2019s crop last week.<\/li>\n
  • Despite positive news from the U.S. which tempered prices slightly, global wheat stockpiles are still projected to hit a nine-year low, according to the latest WASDE report.<\/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
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    Prices strengthened as corn production eases<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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    • Corn futures climbed above $4.5 per bushel, rebounding from a six-week low of $4.39 observed on June 5th, amid uncertainties surrounding U.S. corn plantings and yield for 2024.<\/li>\n
    • Analysts anticipate minimal adjustments in the 14.86 billion bushel production estimate but foresee a slight reduction in the new-crop ending corn stocks estimate to 2.048 billion bushels, souring the supply outlook.<\/li>\n
    • Additionally, pest issues are affecting corn production in Argentina.<\/li>\n
    • On the demand side, corn exports remain robust, surpassing USDA’s weekly inspection goal, further supporting corn prices.<\/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
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      Soybeans futures struggle to uptick as supply surpasses demand<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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      • Soybean futures were below $11.8 per bushel in June, the lowest level in nearly six weeks, amid expectations of higher supply and steady demand.<\/li>\n
      • In its most recent WASDE report, the USDA upwardly revised its US beginning and ending stocks for the upcoming 2024\/25 marketing year as lower crush forecasts lifted expectations on the domestic inventory.<\/li>\n
      • Supply was also supported by the good quality of USDA\u2019s oilseed ratings.<\/li>\n
      • Furthermore, China, one of the largest soybean importers, is increasing its domestic supply, further driving prices down.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"

        Agriculture futures hit from estimates of stronger-than-expected supply, while demand expectations remaining relatively stable. Wheat Wheat futures’ bullish momentum broke on strong crop from US Front-month wheat futures are traded below $6.15 per bushel mark after dropping to a six-week low of $6.1, as dry weather and frosts affected key growing regions in Russia, the […]<\/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-9248","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/9248","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=9248"}],"version-history":[{"count":1,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/9248\/revisions"}],"predecessor-version":[{"id":9250,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/9248\/revisions\/9250"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/media?parent=9248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/categories?post=9248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/tags?post=9248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}