CORN
Corn prices increased for the second session, USDA announced the sale of more than 210 thousand tons of corn to Mexico on Monday morning. USDA weekly data showed that 625 thousand tons of corn were exported in the week ending September 28
Closing the Tuesday session, October 3, 2023, it decreased by more than $2 compared to the previous session. Safras and Mercado estimate Brazil’s first crop output at 26.86 million tons.
Corn prices fell slightly on Wednesday with a slight decrease. Weekly EIA data shows ethanol producers averaged more than 1 million barrels per day in the week ending September 29. USDA also announced a private corn export sale this morning, when Mexico ordered nearly 200,000 tons.
Closing Thursday’s session, CBOT corn prices continued to decline. The report shows that heavy rainfall in southern Brazil is leading to flooding, in some cases damaging first-crop corn and forcing some fields to be replanted.
WHEAT
Going against the market trend, wheat prices increased on the second session after falling at the end of last week, with nearly 400 thousand tons of wheat exported in the week ending September 28.
Closing the session on Tuesday, wheat prices continued to increase due to unexpected reports of purchasing activities from China. USDA confirmed private wheat sales from the United States to China of 220 thousand tons, this is the first time China has purchased from the United States since July 2021. Ukraine hopes to increase grain exports according to wartime agreements with Warsaw and Vilnius will regulate some border checks on goods passing through Poland to Lithuanian ports. Current European wheat prices have increased sharply, supported by Chinese import demand.
Wheat prices fell on Wednesday as traders took profits after increases in the previous two sessions. Traders expect the government to report wheat export sales.
Wheat prices ended Thursday’s session higher after falling due to profit-taking sales. Ukraine’s Ministry of Agriculture reported planting 2.99 million hectares of winter cereals.
SOYBEAN
In line with the market, wheat prices rose slightly on Monday after a report showed Brazil’s planted area was higher than last year and as traders awaited the government’s weekly report. current US plan. USDA reports US exporters have achieved sales of 132 thousand tons to China for 2023/24 deliveries.
CBOT soybean prices fell on Tuesday as a rising dollar led to a decline in U.S. export competitiveness against the Brazilian currency and data showed the current crop was largely unaffected by the impact. hot and dry weather. Low US prices may stimulate some demand and the USDA confirmed private sales of 265 thousand tons of US soybeans to China.
At the end of the fourth and fifth sessions, bean prices increased due to being boosted by bargain buying, but the increase was somewhat limited due to moderate export demand.
Source: thitruonghanghoa.com
SHORT NEWS
September experienced a record dry season, making the lack of rain in Australia worse. This puts agricultural production in Australia – one of the world’s largest agricultural exporters – at risk. (reuters.com)
Ukraine appears optimistic that tensions with EU countries that have imposed measures to restrict the import of Ukrainian agricultural products can be resolved. (reuters.com)
Experts have pointed out fluctuations in the global supply chain at the “Logistics Conference 2023” taking place on October 05 in Ho Chi Minh City.. The fluctuations are expected to pose many competitive problems for the logistics industry. Vietnam. (vnexpress.net)
