Global Ag News for Apr 22.2025

TOP HEADLINES

US Egg Production Fell 7.5% in March From Year Ago: USDA

The US produced 8.63b eggs in March vs 9.33b in the same period a year ago, according to a report from the USDA.

• Output of table eggs fell 8.3% y/y to 7.35b
• Hatching eggs down 2.1% to 1.28b

 

FUTURES & WEATHER

Wheat prices overnight are unchanged in SRW, up 2 in HRW, up 1 3/4 in HRS; Corn is up 1/2; Soybeans up 7 1/4; Soymeal up $1.20; Soyoil up 0.42.

For the week so far wheat prices are down 10 in SRW, down 4 1/4 in HRW, down 3 1/2 in HRS; Corn is up 1/4; Soybeans up 1; Soymeal down $1.60; Soyoil up 0.39.

For the month to date wheat prices are up 1 3/4 in SRW, down 4 1/4 in HRW, up 9 in HRS; Corn is up 27 1/4; Soybeans up 20 1/2; Soymeal up $2.10; Soyoil up 3.34.

Year-To-Date nearby futures are down 2.4% in SRW, down 1.1% in HRW, up 1.0% in HRS; Corn is up 5.1%; Soybeans up 3.9%; Soymeal down 4.4%; Soyoil up 21.2%.

Chinese Ag futures (JUL 25) Soybeans up 73 yuan; Soymeal up 5; Soyoil up 40; Palm oil down 20; Corn up 24 — Malaysian Palm is up 57.

Malaysian palm oil prices overnight were up 57 ringgit (+1.46%) at 3967.

 

There were no changes in registrations. Registration total: 459 SRW Wheat contracts; 0 Oats; 223 Corn; 360 Soybeans; 1,359 Soyoil; 1,170 Soymeal; 344 HRW Wheat.

Preliminary changes in futures Open Interest as of April 21 were: SRW Wheat up 1,494 contracts, HRW Wheat down 596, Corn down 5,820, Soybeans up 2,595, Soymeal up 3,213, Soyoil down 519.

 

DAILY WEATHER HEADLINES: 21 APRIL 2025

• NORTH AMERICA: Widespread warmth is likely to prevail across most of North America during the next two weeks
• SOUTH AMERICA: Wet weather is expected across most of Brazil during the next 10-15 days, barring the far northeast and Rio Grande do Sul in the far south
• BLACK SEA: Well above normal temperatures will persist through 5 days in the Black Sea region, before cold conditions take hold during the 6-15 day period
• EAST ASIA: Dry weather is expected across the North China Plain and surrounding areas during the next 1-2 weeks, while Northeast and far southern China are expected to receive relatively high totals

 

SOUTH AMERICA WEATHER UPDATE FOR 21 APRIL 2025

What to Watch:

• The Argentina Pampas will trend warm and dry through the next couple weeks, facilitating the corn/soybean harvest
• Warmth will moderate over Brazil in early May, while a round of high rainfall along Central-West and Southeast Brazil will persist
• Warm but wet weather through the next 15 days in Paraguay will hamper the corn/soybean harvest

 

Northern Plains: Isolated to scattered showers through Friday. Temperatures near to below normal through Friday. Outlook: Isolated to scattered showers Saturday-Tuesday. Mostly dry Wednesday. Temperatures near to above normal Saturday-Monday, near to below normal Tuesday-Wednesday.

Central/Southern Plains: Isolated to scattered showers Tuesday-Friday. Temperatures above normal Tuesday-Wednesday, near to above normal Thursday, near to below normal Friday. Outlook: Isolated to scattered showers Saturday-Tuesday. Mostly dry Wednesday. Temperatures near to above normal Saturday, above normal Sunday-Monday, near to above normal Tuesday, near to below normal Wednesday.

Midwest West: Isolated to scattered showers through Friday. Temperatures above normal Tuesday-Thursday, near to above normal Friday.

Midwest East: Isolated to scattered showers through Friday. Temperatures above normal through Friday. Outlook: Mostly dry Saturday. Isolated to scattered showers Sunday-Wednesday. Temperatures near to below normal Saturday, near to above normal Sunday, above normal Monday-Wednesday.

 

The player sheet for 4/21 had funds: net sellers of 3,000 contracts of SRW wheat, sellers of 250 corn, sellers of 2,000 soybeans, sellers of 1,000 soymeal, and buyers of 1,000 soyoil.

 PENDING TENDERS

• RICE TENDERS: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued international tenders to purchase about 80,000 metric tons of rice.
• CORN, BARLEY AND SOYMEAL TENDERS: Iranian state-owned animal feed importer SLAL issued international tenders to purchase up to 120,000 metric tons of animal feed corn, 120,000 tons of feed barley and 120,000 tons of soymeal
• WHEAT TENDER: The offer deadline in an international tender from a state grains buyer in Syria to purchase about 100,000 metric tons of soft milling wheat was amended to April 21
• WHEAT TENDER: Jordan’s state grain buyer issued an international tender to buy up to 120,000 metric tons of milling wheat which can be sourced from optional origins.
• FEED BARLEY TENDER: Jordan’s state grains buyer issued an international tender to purchase up to 120,000 metric tons of animal feed barley.

 

 

 

 

TODAY

US Inspected 1.703m Tons of Corn for Export, 551k of Soybeans

In week ending April 17, according to the USDA’s weekly inspections report.

• Wheat: 510k tons vs 611k the previous wk, 450k a yr ago
• Corn: 1,703k tons vs 1,830k the previous wk, 1,661k a yr ago
• Soybeans: 551k tons vs 555k the previous wk, 444k a yr ago

 

US Corn, Soybean, Wheat Inspections by Country: April 17

Following is a summary of USDA inspections for week ending April 17 of corn, soybeans and wheat for export, from the Grain Inspection, Packers and Stockyards Administration, known as GIPSA.

• Soybeans for Egypt-bound shipments made up 173k tons of the 551k total inspected
• Mexico was the top destination for corn inspections, Vietnam led in wheat

 

Palm Oil Seen Supported at 3,900 Ringgit in Coming Weeks: MPOC

Palm oil is expected to remain underpinned by firm demand and a recovery in soybean oil prices, according to the Malaysian Palm Oil Council.

• NOTE: Benchmark palm oil futures traded little changed at 3,908 ringgit a ton at 12:08pm in Kuala Lumpur Tuesday
• China may increase imports during May-June to replenish inventories, while India may capitalize on current low prices to restock, the group said in a statement Tuesday
• Declining palm oil output in the Malaysian state of Sabah remains a concern, and is likely to curb any significant recovery in production or stockpiles in the coming months
• Despite a supply recovery in March, cumulative Malaysian production in 1Q seen at a three-year low; year-on-year production declines are likely to persist until September
• Malaysia’s total palm oil production may fall to 19m tons in 2025 from 19.3m tons a year earlier
  • NOTE: Sabah is the top palm-producing region of the Southeast Asian nation, which is the world’s second-biggest grower
• “This production shortfall will limit inventory accumulation and help support palm oil prices,” MPOC said
• Still, any strong rally in vegetable oil prices is unlikely as escalating trade conflicts and softer crude oil prices imply higher risk and market volatility

 

A NEUTRAL ENSO STATE THIS SUMMER IS LIKELY TO FEATURE SIGNIFICANT DROUGHT RISKS

What to Watch:

• La Niña officially came to an end as neutral ENSO conditions were recorded in March, a trend that has held firm since
• The neutral ENSO state will continue through the June-August forecast and very likely beyond that time as the next potential move is becoming murkier
• Drought appears as a major risk this summer for North America, Australia, and now for Eurasia, while Europe and most of Asia are likely to receive favorable rains for crops

THE SUMMER OUTLOOK FOR THE BLACK SEA REGION IS TRENDING DRIER, ADDING TO DROUGHT RISKS THAT EXIST FOR NORTH AMERICA AND AUSTRALIA.

 

Wet spells continue across Southern China while North India remains dry

What to Watch:

• Dry weather in North India
• Flood risks in South China
• Wet spells in North Japan

 

 

 

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