13/06/2025
Quick summary
The agricultural market is under general pressure: wheat and soybeans have decreased, corn is volatile; coffee and sugar have mixed trends.
1. Wheat
- Futures prices fell below $5.30 per bushel, the lowest in three and a half weeks.
- USDA raises its forecast for the 2025/26 crop production to 1.921 billion bushels (an increase of 115,000 bushels).
- Exports increased by an additional 25 million bushels to 825 million bushels; ending stocks decreased to 898 million bushels.
2. Ngo
- The price increased to approximately $4.40 per bushel, recovering from the 6-month low of $4.335.
- USDA lowered the ending stocks forecast for 2024/25 to 44.5 million tons (a decrease of 1.3 million tons).
- Drought conditions in the American Midwest: only 66% of the area is in good to very good condition.
- Brazil's safrinha crop hits a record 101 million tons; Black Sea increases production by over 70%.
3. Soybean
- Futures prices fell to nearly $10.40 per bushel, the lowest since June 4.
- USDA maintains the supply-demand forecast and the average price of 10.25 USD/bushel.
- Global inventories are forecasted to increase to 125.3 million tons, primarily due to China.
4. Coffee
- Robusta rose 0.5% to 4,314 USD/ton after a 9.5-month low.
- Arabica decreased by 0.9% to 3.453 USD/lb; the harvest in Brazil is favorable.
- Brazilian farmers test conilon varieties to cope with climate change.
Source: MXV aggregate
