CORN
Closing the first session of the week, the price of CBOT corn decreased slightly by 0.2 USD/ton due to the influence of positive information about the crop situation in the US. The progress of planting corn in the US has completed 26% of the area. Maize prices continued to fall in the shale on May 2 following the decline of world crude oil prices, in addition, the price decrease was also due to positive information from crop conditions in the US.
Corn price adjusted to increase by 3.3 USD/ton at the end of the session on May 3, following the increase of world cereal prices, through the session on May 4, the price of corn did not change much.
Closing the last session of the week on May 5, the price of CBOT corn increased by 2.9 USD/ton following the increase of the world crude oil price.
WHEAT
Wheat prices closed on May 1st, adjusted down to $5.7/ton. Newspapers earlier this week showed that the rainy weather favors major wheat-producing regions in the U.S. Plains and Midwest. Besides, the abundant supply with competitive prices from the Black Sea region is also an important factor putting downward pressure on world grain prices during this time. CBOT wheat prices continued to decline in the session on May 2.
Closing the session on May 3, wheat prices rebounded sharply to $11.2 per tonne, prices recovered due to the impact of new tensions between Russia and Ukraine, raising concerns about the future of the agreement on the safe grain export corridor. In the Black Sea, wheat prices continued to increase by 2 USD/ton on May 4.
Wheat prices rose for a third consecutive session as market expectations were less optimistic about the prospect of an extension of the grain export agreement in the Black Sea.
SOYBEAN AND SOYBEAN MEAL
Soybean seeds and soybean meal increased by 3 and 1.3 USD/ton, respectively, prices recovered after the previous sharp decline. Soybean and soybean meal prices dropped sharply by 6.2 and 6.3 USD/ton. Favorable weather helps the progress of soybean planting in the US take place quickly.
Closing the session on May 3, soybean price increased by 2.5 USD/ton while soybean meal price decreased by 3.3 USD/ton. The soybean harvest in Brazil is coming to an end, with the total output being valued at a very high level, which remains an abundant supply of soybeans and soybean meal, putting pressure on world prices. Closing the session on May 4, soybean and soybean meal prices did not have much change.
Soybean and soybean meal prices closed at the end of the week with an increase of 6.9 and 1.7 USD/ton, respectively, following the increase of world crude oil price.
SHORT NEW
Ciaoniao contributes to the development of logistics in Vietnam, a subsidiary of Cainiao Network of Alibaba Group is making many contributions to the development of logistics in Vietnam with the launch of high-end, optimal warehousing systems. optimize supply chains, increase access to logistics operations and improve customer experience. In recent years, logistics enterprises and companies in Binh Duong and the inner city of Ho Chi Minh City (HCMC) had to rethink its operation and supply chain strategy due to increasing traffic pressure, increasing land costs, increasing storage costs and limited space for expansion in the future. future. In that context, Cainiao P.A.T Smart Logistics Park in Long An and Cainiao Dong Nai Smart Logistics Park in Dong Nai province are ready to meet the growing needs of businesses with target customers. mainly in the inner city, the west of HCMC and the Mekong Delta. The recent cooperation between the company and leading corporations such as OOCL and VSICO is a testament to the value of Cainiao Network’s contribution.
(Source: cafef.vn)
