International

Stratégie Grains cut its 2024-25 rapeseed production estimate by a further 0.3Mt, now seen at 16.9Mt (20Mt previous year). Sunflowerseed production was cut by 0.3Mt, to 9.3Mt (9.8Mt) and soybean production revised down by 0.1Mt to 2.9Mt (2.9Mt). 

The Alberta Crop Report for the week ending 27 August notes varied rainfall was recorded across the province. Dry conditions in the south aided harvest, with yield potential in this region seen as the highest in the province. Harvest of major crops was 18pc complete (18pc previous year, 12pc avg), including spring wheat at 17pc (19pc previous year), barley at 31pc (29pc) and canola at 1pc (4pc). Overall crop conditions rated at 43pc good/excellent (40pc previous week). 

Buenos Aires Grain Exchange reported that 2023-24 maize harvest is 99pc complete (99pc previous year), with only late and second crops in southern regions remaining. Early sowing of 2024-25 crops was noted in central Santa Fe and Entre Rios, with fieldwork expected to pick up following the arrival of forecast rainfall. 2024-25 wheat conditions was rated 84pc fair/excellent (85pc, 77pc) as low temps delayed crop development. However, areas that received rainfall over previous week showed improvements in crop conditions. 

Ukraine’s Ag Ministry reported that as at 30 August, 2024-25 wheat harvest had reached 21.8Mt, barley 5.5Mt and canola 3.4Mt. Maize harvest has begun in the regions of Poltava and Cherkasy. 

US private exporters reported the sale of 132kt of soybeans and 118kt of sorghum to China for the 2024-25 marketing year.

Australia

Cereal price in the west started the week with some positive price movement, with old crop bids up around A$2-$5/t at around $286/t for barley and wheat at $341/t FIS. New crop bids were up around $3/t with barley bid $298/t and wheat $347/t FIS. Canola bids were largely unchanged to begin the week. In the eastern markets there was little change in bids to begin the week, with new crop bids for canola around $707/t, wheat $327/t and barley $285mt. 

Warm and windy weather across SA has growers looking for some decent rain, and unfortunately this week is unlikely to bring it. The Eyre region is set to receive 10-15mm in upper parts and 15-25mm in the lower. The Yorke, Mid North and Murraylands has 10-15mm forecast. Rainfall will need to be at the upper end of these forecasts to maintain average yield potential in some regions.

ABARES released their September Crop Report this morning, with total 2024-25 winter crop production revised up 7pc from June to 55.2Mt (+17pc year on year). Wheat production was revised up 2.7Mt to 31.8Mt, barley up by 638kt to 12.16Mt and canola up by 87kt to 5.47Mt. They note that improved production prospects in New South Wales, Queensland and Western Australia are expected to more than offset reduced production in South Australia and Victoria

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