World markets for grains and oilseeds

Soybean futures and options traders have moved to a net long position of 34,833 contracts as of Jan. 14, the first in over a year, despite commercial traders having a net short position of 120,158 contracts. Soybean exports have recovered, with 569,142 mt for 2024/25 soybean sales in the week ending 9/1, bringing the total marketing year commitment to 40,891 mmt, or 82% of the USDA export forecast. However, soybean growing conditions in Argentina are worsening. Wheat futures on the Chicago Mercantile Exchange ended modestly higher, with traders concerned about weather in Argentina and optimistic about U.S.-China trade relations. Thailand's TFMA importer group has secured three contracts for 195,000 tonnes of feed wheat in an international tender, expecting shipments from the US or Australia. Argentina is expected to regain its status as the second-largest barley exporter after the current harvest is completed, with its 2024/25 barley harvest forecast to be 4.9 million tonnes.

CFTC data showed soybean futures and options traders moved to a net long position of 34,833 contracts as of Jan. 14. That was a move of 63,445 contracts that week and the first net long position in more than a year. Commercial traders had a net short position of 120,158 contracts, up 66,450 contracts from the previous week. The export sales report on Thursday morning showed a recovery in business after the holiday week to 569,142 mt for 2024/25 soybean sales in the week ending 9/1. That brings the total marketing year commitment to 40,891 mmt, now 82% of the USDA export forecast, ahead of the average sales pace of 81%. Soybean growing conditions in Argentina are worsening, with excellent conditions down 17% to 32% and poor conditions up 13% to 21%, according to the Buenos Aires Grain Exchange. Mar 25 Soybeans closed at $10.34, up 15 cents, Nearby Cash was $9.74 3/4, up 14 1/4 cents, May 25 Soybeans closed at $10.44 3/4, up 13 1/4 cents, Nov 25 Soybeans closed at $10.27 3/4, up 7 ...