# Market Perspectives - October 31, 2024 - U.S. Grains & BioProducts Council

> The U.S. Grains Council market report cites China's grain output expected to exceed 700 million tons this year, 0.7% above 2023. It also notes Putin reviewing Black Sea shipping proposals from Erdogan and Ukraine's planned minimum export price system for key grains and oilseeds, expected to start in early December.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: trade · region Black Sea · magnitude low
- Page: https://feedsoft.ai/events/27947-market-perspectives-october-31-2024-u-s-grains-and-bioproducts-council
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Ukraine's minimum export price system could tighten or reshape Black Sea export flows and support wheat, corn and oilseed values, while a Black Sea shipping deal could ease freight and logistics costs. China's larger domestic crop may modestly reduce its import needs.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-10-04 | [New U.S.-Mexico-Canada Agreement Preserves Market Access, Improves Trade Logistics To Top U.S. Grain Markets - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/62508-new-u-s-mexico-canada-agreement-preserves-market-access-improves-trade.md) | -2.7% | +5.7% |
| WHEAT | 2017-03-01 | [U.S. grains: Wheat ends up three per cent - Manitoba Co-operator](https://feedsoft.ai/events/72050-u-s-grains-wheat-ends-up-three-per-cent-manitoba-co-operator.md) | +0.7% | +0.6% |
| WHEAT | 2018-07-19 | [U.S. grains: Markets set one-week highs on export hopes, weather woes - AgCanada](https://feedsoft.ai/events/64079-u-s-grains-markets-set-one-week-highs-on-export-hopes-weather-woes-agcanada.md) | +3.7% | +2.1% |
| WHEAT | 2021-09-15 | [Daily Market Wire 16 September 2021 - Grain Central](https://feedsoft.ai/events/12294-daily-market-wire-16-september-2021-grain-central.md) | -3.8% | +4.6% |
| WHEAT | 2020-11-26 | [INTERVIEW: China grain demand reflects structural change: US Grains Council](https://feedsoft.ai/events/50014-interview-china-grain-demand-reflects-structural-change-us-grains-council.md) | -0.5% | +8.9% |
| CORN | 2019-10-31 | [Market Perspectives – October 31, 2019 - Page 7 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/56590-market-perspectives-october-31-2019-page-7-of-10-u-s-grains-and-bioproducts.md) | +0.9% | -1.2% |
| CORN | 2018-07-26 | [Market Perspectives - July 26, 2018 - Page 7 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/12413-market-perspectives-july-26-2018-page-7-of-11-u-s-grains-and-bioproducts-council.md) | +1.0% | -0.5% |
| CORN | 2019-01-24 | [Market Perspectives - January 24, 2019 - Page 7 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/61138-market-perspectives-january-24-2019-page-7-of-11-u-s-grains-and-bioproducts.md) | +1.4% | +0.3% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-october-31-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.