There were only small changes to the updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC) released Nov. 19. All of the other data in the AAFC report were carried over from its October report.
There were a few tweaks to the latest monthly report from the United States Department of Agriculture released on Nov. 8. The World Agricultural Supply and Demand Estimates not only lowered yields for U.S. corn and soybeans, the department reduced the ending stocks for both.
October weather, as well as in September, was unfavourable for the development of Ukrainian winter crops, most of which lack moisture, analyst APK-Inform quoted the Ukrainian national agricultural academy as saying on Monday.
Spring wheat cash prices were mixed for the week ended Oct. 31, as pressure from declines in United States wheat futures were countered by support from a weaker Canadian dollar that encourages more export sales.
As wheat production in Argentina is projected to increase in 2024/25, according to the United States Department of Agriculture attaché in Buenos Aires, the country’s corn output is to be smaller than in the previous year.