Written Commentary
London Wheat Report
Abiove, the Brazilian Association of Vegetable Oil Industries, have cut their estimate for Brazil’s 2024 soybean output for the second time this month. Abiove now expects local farmers to produce 153.8 million metric tonnes of soybeans, down from the 156.1 million it forecast in February and the 159 million tonnes produced in 2023. May24 Soybeans trading up 4.5 cents at the time of writing.
Ukraine’s grain exports so far in February have exceeded the last year’s level by almost 12%, reaching 5.3 million metric tonnes, ag min data showed on Wednesday. Ukraine exported 4.7 million tonnes of various grains over the Feb. 1-27 period last year.
Polish Prime Minister Donald Tusk said on Wednesday he would meet protesting farmers’ leaders on Thursday.
Global Ags markets returned to their bearish ways today All wheat markets coming off in today’s trading. Chicago led the way in the States which was trading down 9 cents cents at the time of writing.
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