ADMISI London Wheat Report for 30 December

London Wheat Report

Futuresource chart - ADMISI London Wheat Report
Firmer USD didn’t help the European wheat markets, which settled lower alongside a weaker US wheat complex. Argentina and Russia remain aggressive sellers of export wheat. December Argentina exports were record 2.5 mmt and Jan could be 4.0 mmt for first time.
 
USDA announced 136 mmt US soybeans to China and 231 mmt US soybeans to unknown, which had no impact to the market, which softened after the main session opened.
 
Readouts of agricultural policy meetings in China showed Chinese officials have vowed to stabilise grain production and increase soybean production capacity, as Beijing seeks to reduce imports and ensure food security. China’s total grain output hit a new record this year, up 1.2% from 2024 to 714.9 mmt, according to statistics bureau data released earlier this month.

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