Sales of Argentine soybeans and corn rose for the 2024/25 marketing year but fell for 2023/24 in the week to July 31, while wheat sales increased week on week across both crop years, according to data released by Argentina’s agriculture secretariat on Wednesday August 7.

Speculators increased short positions in the US soybean market, driving the net short position close to a record high, while managed money investors reduced short positions in the corn market.

Fastmarkets has corrected its crush margins US soy, $c/bu, which was published incorrectly on July 19.

Brazilian soybean exports maintained a robust pace in July, surpassing last year's figures, while corn shipments faced challenges in keeping up with demand.

Fastmarkets has corrected its US, Brazil and China (US Gulf) soybean crush margins, which were published incorrectly on June 20.

The European Commission released its latest set of data on the imports of soybean, soybean meal, rapeseed, sunflower oil and palm oil into the EU

The Ukrainian Grain Association estimated the 2024/25 crop of oilseeds and grains in Ukraine at 74.6 million tonnes, down by 2% from the initial forecast of 76.1 million tonnes in March.

Soybean front-month July futures on the Chicago Mercantile Exchange (CME) rebounded on Friday May 10 with support from soybean oil and despite estimates of ample offer and ending stocks for the 2024/25 crop in the latest World Agricultural Supply and Demand Estimates (WASDE) report.

Argentina is on track to regain its position as the largest soy meal exporter in 2023-2024, with its soybean crop  – which has nearly doubled in size – starting to be harvested, but the country faces increasing competition from Brazil and the US for global market share, Fastmarkets understands.

The recent shift is supported by the country's increased biodiesel blending mandate and there are moves to raise it further in the coming years