CORN
CBOT Corn prices fell on Monday, as market participants turned their attention to U.S. weather patterns for the start of the growing season. CBOT July corn (CN24) fell 6-1/4 cents at $4.43-3/4 a bushel, the lowest since June 6.
Closing Tuesday, CBOT corn prices edged higher, reversing a trend after two days of slide, as investors watch a heat wave move across the Eastern Corn Belt after the government reported a decline in US crop ratings.
CBOT Corn prices turned lower on Thursday as analysts predicted rain in the central United States would limit the impact of the heat wave. LSEG Commodities Research said in a report that Ukraine’s corn output was revised up by 0.8% amid improved soil moisture in key growing regions.
Analysts expect the government to report new-crop U.S. corn export sales for the week ending June 13 at 0 to 200,000 tons.
WHEAT
CBOT wheat prices fell sharply on Monday as fund-selling pressure piled up during a short holiday trading week. Additionally, analysts noted that rain across drought-affected areas of Ukraine and Russia may have limited some damage to those countries’ wheat crops.
CBOT wheat prices steadied at low levels Tuesday as export demand cooled and the harvest continued to grow in the U.S. Southern Plains.
Closing Thursday, CBOT Wheat prices remained steady in the U.S. Southern Plains as farmers focused on the ongoing harvest, while protein prices rose for some wheat varieties.
According to the USDA report, traders expect the government to report U.S. wheat sales for the week ending June 13 at 200,000 to 500,000 tons.
SOYBEAN
CBOT Bean prices fell sharply on Monday, as the fund’s selling pressure on Friday continued into a short holiday trading week. CBOT July soybeans (SN24) ended down 22 cents at 11.57-3/4 bushels.
CBOT Beans prices turned higher on Tuesday, reversing a two-day slide, as investors watched a heat wave move across the Eastern Corn Belt after the government reported a slump. decline in US crop rankings.
Closing Thursday, CBOT Bean Prices fell to a two-month low as analysts said rain would limit the impact of a heat wave in the central United States.
Following the USDA’s weekly sales report on Friday, analysts expect the government to report new-crop U.S. soybean export sales for the week ending June 13 at 0-200,000 tons.
Source: thitruonghanghoa.com
SHORT NEWS
GREENWOOD VILLAGE, COLORADO, US — A smaller Russian wheat harvest and lower export capacity is expected to alert the world wheat market to the extreme global tightness that has been building in recent years, according to a new report from CoBank.
Source: world-grain.com
