London Wheat Report
Chicago corn and soybeans rose on Thursday, recouping losses from the previous session with support from a weaker dollar while traders assessed South American weather and comments from U.S. President Donald Trump about China. The Corn market was also supported with news that The International Grains Council (IGC) has cut its forecast for 2024/25 global corn production, largely reflecting a diminished outlook for crops in Brazil and Argentina. The inter-governmental body, in a monthly update, reduced its 2024/25 corn production forecast by 3 million metric tons to 1.216 billion tons.
Ukraine’s exportable grain surplus in the 2024/25 July-June season is seen at 41.9 million metric tons as of mid-February, Ukrainian Farm Minister Vitaliy Koval was quoted on Thursday as saying. Koval told Interfax Ukraine news agency the volume could include 16.2 million tons of wheat, 22.1 million tons of corn and 2.8 million tons of barley.
Russia’s seaborne grain exports dropped by 28.2% year-on-year in January to 3.3 million metric tons, shipping data from industry sources showed on Thursday.
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