Global Ag News for May 1.2025

TOP HEADLINES

Ukraine’s April grain exports down 60% year on year, ministry says

Ukrainian grain exports fell by 60% to 2.27 million metric tons in April from 5.66 million tons in the same month last year, data provided by the agriculture ministry showed on Wednesday.

Ukraine is a traditional grower of various grains but its harvest fell sharply after Russia invaded the country in 2022, with large areas either occupied or mined.

The ministry data showed that wheat exports fell by 56% to 0.75 million tons while corn exports decreased by almost 61% to 1.46 million tons.

Officials and traders say a smaller harvest and lower carryover stocks are the main reasons for the drop in shipments.

FUTURES & WEATHER

Wheat prices overnight are up 2 1/2 in SRW, up 3 1/4 in HRW, down 1 in HRS; Corn is up 2 1/4; Soybeans down 5; Soymeal down $1.80; Soyoil down 0.47.

For the week so far wheat prices are down 11 3/4 in SRW, down 18 1/4 in HRW, down 10 1/4 in HRS; Corn is down 7 3/4; Soybeans down 19 3/4; Soymeal down $2.30; Soyoil down 1.31.

Year-To-Date nearby futures are down 6.2% in SRW, down 7.5% in HRW, up 3.1% in HRS; Corn is up 2.2%; Soybeans up 2.9%; Soymeal down 5.9%; Soyoil up 21.3%.

Chinese Ag futures (JUL 25) Soybeans up 2 yuan; Soymeal down 32; Soyoil down 20; Palm oil down 56; Corn up 5 — Malaysian Palm is down 32.

Malaysian palm oil prices overnight were down 32 ringgit (-0.81%) at 3911.

There were changes in registrations (-10 Corn, 100 HRW Wheat). Registration total: 459 SRW Wheat contracts; 0 Oats; 180 Corn; 360 Soybeans; 1,359 Soyoil; 1,170 Soymeal; 744 HRW Wheat.

Preliminary changes in futures Open Interest as of April 30 were: SRW Wheat up 952 contracts, HRW Wheat up 5,446, Corn down 54,858, Soybeans down 17,980, Soymeal down 5,065, Soyoil up 4,963.

DAILY WEATHER HEADLINES: 30 APRIL 2025

• NORTH AMERICA: The temperature pattern will be largely mixed through 10 days across North America, with warmth mostly confined to western Canada and the north-central/northwest U.S., and the coolest anomalies in the south-central U.S.
• SOUTH AMERICA: Well above normal temperatures remain present in the Brazil forecast in many regions through the next two weeks
• AFRICA: Widespread dry weather in South Africa should favor maize harvest across the country during the next 1-2 weeks
• AUSTRALIA: Warm and dry weather across Australia should provide ample fieldwork opportunities during the next two weeks

Northern Plains: Widespread showers and heavy rain fell across a good portion of the region earlier this week. Additional light and spotty showers are forecast for the next couple of days. Another system will move into the region this weekend, likely bringing more scattered showers into next week. The current and forecast rainfall should improve drought, but also cause wet conditions and some delays to planting.

Central/Southern Plains: A front is stalled across the south, where showers and thunderstorms will continue into Thursday and some additional showers may be possible on Friday with another front sweeping it out. More rainfall is forecast with another system moving into the region on Sunday with a system that will be slowly moving eastward next week. The rainfall is helping to ease drought conditions and build soil moisture, but may be causing some flooding and delays to planting. Producers likely welcome the rain, even if it causes some delays.

Midwest: A system brought heavy rain and severe weather over the last two days. Another system will move up through the region from the Southern Plains over the next couple of days, producing more widespread rainfall, especially for the wetter south. Some additional showers will be possible next week as an upper-level trough slowly moves eastward through the region. Western areas are likely to be wetter, and eastern areas may get a chance to dry out and get some fieldwork in.

Delta/Lower Mississippi: The Mississippi River is still flooded south of Memphis, causing some travel restrictions. A front moved into the region on Tuesday and linger with periods of showers through Saturday, causing some heavy rain to exacerbate the wet conditions in the region.

 Brazil: A front recently moved through the country, continuing showers over northern areas into the weekend. This should be considered the end of the wet season, generally on time this year. The barrage of fronts over the last few weeks has kept soil moisture favorable for corn but also for winter wheat planting that will start up in May. Additional fronts may move into southern areas next week to continue building moisture for wheat.

Argentina: Overall drier conditions have been favorable for corn and soybean harvest. Very little rainfall is forecast this week, with some showers over northern areas on Friday, which should continue to be favorable for fieldwork. Some areas are getting a bit too dry for winter wheat planting that will start up in May but fronts moving through next week could provide some better moisture.

The player sheet for 4/30 had funds: net buyers of 6,000 contracts of SRW wheat, buyers of 8,500 corn, buyers of 2,000 soymeal, and sellers of 3,000 soyoil.

TENDERS

• CORN SALES: The U.S. Department of Agriculture confirmed private sales of 120,000 metric tons of U.S. corn to undisclosed destinations for delivery in the 2024/25 marketing year that began Sept. 1, 2024.
• CORN PURCHASE: South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an estimated 132,000 metric tons of animal feed corn sourced from optional origins in an international tender
• CORN PURCHASE: The Korea Feed Association (KFA) in South Korea is believed to have purchased about 65,000 metric tons of animal feed corn expected to be sourced from the United States in a private deal without issuing an international tender
• CORN PURCHASE: South Korea’s Feed Leaders Committee (FLC) bought around 66,000 metric tons of animal feed corn in a private deal without issuing an international tender
• FEED WHEAT PURCHASE: South Korea’s Feed Leaders Committee (FLC) purchased around 60,000 metric tons of animal feed wheat to be sourced from any worldwide origins in a private deal without issuing an international tender
• FEED WHEAT PURCHASE: South Korean animal feed maker Nonghyup Feed Inc. (NOFI) purchased about 65,000 metric tons of animal feed wheat in an international tender on Wednesday
• BARLEY PURCHASE: Tunisia’s state grains agency is believed to have purchased about 25,000 metric tons of animal feed barley in an international tender with restricted participation.

 PENDING TENDERS

• RICE TENDERS: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued international tenders to purchase about 80,000 metric tons of rice.
• WHEAT TENDER: A state grains buyer in Syria was considering price offers in an international tender to buy about 100,000 metric tons of soft milling wheat which closed last week with no purchase made.

 

TODAY

DOE: US Ethanol Stocks Fall 0.4% to 25.389M Bbl

According to the US Department of Energy’s weekly petroleum report.

• Analysts were expecting 25.622 mln bbl
• Plant production at 1.04m b/d, compared to survey avg of 1.025m

GRAIN EXPORT SURVEY: Corn, Soy, Wheat Sales Before USDA Report

Estimate ranges are based on a Bloomberg survey of four analysts; the USDA is scheduled to release its export sales report on Thursday for week ending April 24.

• Corn est. range 700k – 1,500k tons, with avg of 1,000k
• Soybean est. range 150k – 550k tons, with avg of 295k

Argentina soybeans farmers notch biggest sales day of 2025

Argentine farmers sold 230,000 metric tons of soybeans on Tuesday, the largest single-day amount of the grain sold in 2025, the Rosario grains exchange said on Wednesday.

Argentine Soybean, Corn Estimates April 30: Exchange (Table)

The Buenos Aires Grain Exchange releases weekly report on website.

• No changes to 2024-25 corn, soybean production
• Soybean harvest advanced to 23.6% complete vs 14.5% in the previous week

India buys 25.6 million metric tons of wheat from domestic farmers

India has so far purchased 25.6 million metric tons of new season wheat from domestic farmers, up from 20.5 million tons during the same period last year, India’s food secretary said on Thursday.

The government is hopeful that it will be able to meet its wheat procurement target of 31.2 million tons, Sanjeev Chopra told a news conference.

Turkey Opens Zero-Tariff Corn Import Quota to Stabilize Prices

Turkey introduces a tariff quota allowing the import of up to 1 million tons of corn at zero customs duty until July 31, according to a decree in official gazette on Thursday.

• The move aims to stabilize supply and prices following a decline in corn production last year and rising global prices, state-run Anadolu Agency reports, citing trade ministry statement
• Corn is a vital input for animal feed, particularly in poultry and red meat production, as well as various food products. The temporary measure is intended to ensure sufficient supply ahead of the next harvest
• After the deadline, the standard 130% customs duty on corn imports will be reinstated
  • The decision takes effect as of Friday

Soybean oil use for U.S. biofuels production fell to 576 million lbs in February -EIA

Soybean oil used to produce biofuels in the United States fell to 576 million lbs used in February.

In January, soyoil used in biodiesel production was 654 million lbs. Soybean oil remains the largest U.S. biodiesel feedstock.

Cargill, LDC among winners of Brazil port auction

Cargill, BTG Pactual Commodities and a consortium formed by Louis Dreyfus and Brazilian grain trader Amaggi have won rights to operate three separate terminals at Paranagua port on Wednesday.

The competitive auction, which involved several bidders, highlights the importance of improving Brazilian logistics in the context of a global trader war.

At an auction at the Sao Paulo Stock Exchange, the companies offered a combined 855 million reais ($151 million) for the rights to operate three separate Paranagua areas for 35 years.

The interest comes as global grain traders brace to deal with more demand for Brazilian agricultural commodities from countries like China, which is engaged in a trade war with the United States.

After the auction, the company’s are expected to increase the volume of Paranagua’s vegetable bulk shipments by 4.8 million tons by year, representing a 47% gain, the Port’s press office said.

Cargill beat Arco Norte Infraestrutura e Logistica with a bid of 411 million reais for the PAR 15 terminal, the highest amount at the auction.

Paulo Sousa, president of Cargill in Brazil, said in a statement the company is pleased to have won rights to operate that terminal for another 35 years.

Paranagua is strategically located to receive products like soymeal from Cargill’s first soy processing unit opened in Brazil, which is based in Ponta Grossa and just 214 kilometers (133 miles) away from the port.

The ALDC consortium, comprised of Louis Dreyfus Company and Amaggi, won the PAR25 port area.

In a statement, Amaggi and Dreyfus said they are committed boosting shipments through Paranagua, one of Brazil’s key grain export hubs along with Santos port.

Total investments in the three port terminals are expected to reach 2.4 billion reais ($423 million), according to data from the Brazilian federal government.

Vicentin Seeks Federal Supreme Court OK for Bunge-Led Rescue

Vicentin SAIC, the major Argentine soy exporter that’s been in bankruptcy protection for five years, has taken the case for its Bunge-led rescue deal to the federal supreme court, according to a Vicentin spokesman.

• Vicentin has asked the federal supreme court justices to suspend the case until they make a decision whether to take on an appeal of a Santa Fe provincial court ruling that the rescue deal is unconstitutional
  • NOTE: Normally, a case would go on while the justices deliberate — meaning the provincial court that’s currently assessing whether to proceed to a so-called cramdown would continue to hold sway
• NOTE: Santa Fe province has ruled against the Vicentin-brokered agreement with creditors for a $1.3b restructuring and takeover led by Bunge, likely opening the door to a cramdown where outside bids could be lodged

 

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