CORN
The mayor took a break for the New Year holiday on Monday. Closing the session on Tuesday, rice and corn prices decreased due to favorable weather conditions in Brazil, which had a positive impact on the crop. Traders said weak U.S. corn export demand and the strength of the dollar had added pressure on CBOT corn.
Corn prices closed nearly unchanged Wednesday as the market consolidated after setting contract lows. Traders said favorable crop weather in Brazil limited gains, after a drop in hot and dry weather dampened harvest expectations. Spot bids for corn and soybeans were mostly steady to up in the U.S. Midwest as processors tried to keep grain shipped out of the country as falling CBOT futures limited sales farmers’ goods.
Closing Wednesday’s session, corn prices increased slightly as the market consolidated at low prices. Improved rainfall in Brazil’s dry growing regions continues to weigh on corn and soybean markets.
WHEAT
At the end of the third trading session after the New Year holiday, CBOT wheat prices decreased as the US dollar increased, putting pressure on agricultural product prices. Wheat prices continued to fall to session lows on Wednesday as a strong dollar made the US grain less attractive on world markets. The dollar rose to a two-week high, underpinned by rising US Treasury yields.
Wheat prices rebounded on Thursday as the market recovered after the most actively traded contract fell to a one-month low below $6 a bushel. One analyst said, discussing China’s potential interest in buying more US soft red winter wheat helped the market recover. Grain traders continue to monitor risks in the Red Sea and Ukraine, a major crop exporter.
SOYBEAN
CBOT bean prices closed the third session lower because favorable rainy weather has partly limited the drought in Brazil, with heavier rains expected to take place. StoneX said it cut its estimate for Brazil’s soybean crop to 152.8 million tons due to dry weather in key agricultural regions.
In contrast to wheat prices, soybean prices closed higher on Wednesday, with analysts saying short-term cover helped lift futures prices, although improved rains for crops in Brazil kept the market. It is very difficult for the school to recover.
Bean prices fell on Thursday due to pressure from favorable weather in Brazil. One analyst said concerns that US soybean export sales could struggle were also weighing on the market.
Source: thitruonghanghoa.com
SHORT NEWS
Facing the shortage of ships due to ships having to change direction at the Red Sea and around the Cape of Good Hope, ship charterers have sharply increased charter fees, especially for large ships to optimize efficiency on routes. long road. Demand for ships from mainline operators has increased again after freight rates increased by 40% last week.
(phaata.com)
Maersk adds Karachi port to route F13 to increase faster connectivity between Far East Asia and Pakistan markets
(thilogi.vn)
