CORN
Closing the first session of the week, CBOT corn price decreased by 1.1 USD/ton. According to the USDA Quarterly Report on US Agricultural Inventories released on March 31, the US corn inventories were only 188 million tons, down 4.6% from the same period last year and the lowest level in the last 9 years. This.
Closing the session on April 4 and April 5, corn prices continued to decrease by 1.6 and 0.4 USD/ton, US farmers have started planting a new crop of 2023/24, USDA’s weekly report updated to April 2 shows that progress has completed 2% of the planned area.
Corn prices continue to fall ahead of Easter. CBOT floor will be closed for holidays until the end of April 10.
WHEAT
Closing the first session of the week, wheat price increased slightly by 0.6 USD/ton, estimated to March 1, US wheat inventories reached 25.7 million tons, down 8.1% over the same period last year.
Following the same trend as the market, at the close of April 4, wheat price decreased slightly by 0.7 USD/ton. This decrease was capped by the positive news on the US winter crop situation – the percentage of US winter wheat crops in good-very good condition only accounted for 28% of the area, the lowest level compared to the previous year. for the same period every year from 1989 to present. Sessions on April 5 and April 6, wheat prices continued to decrease. The latest forecasts suggest that warmer and drier weather in the US crop belts could help boost planting activity.
SOYBEAN AND SOYBEAN MEAL
CBOT soybean prices closed at the beginning of the week with an increase of 6.1 USD/ton while soybean meal decreased by 2 USD/ton. US soybean stocks as of March 1 are estimated at 45.9 million tons, down 12.58% year-on-year. He pointed out that the sharp increase in world crude oil prices is one of the reasons for the increase in soybean prices.
Closing the session on April 4, the price of soybeans and CBOT soybean meal simultaneously decreased by 1.7 and 7.5 USD/ton due to selling pressure to take profit. Abundant supply from Brazil is also one of the reasons limiting the rise of world prices. Prices also continued to decrease in the session on April 5. Some analysts have recently forecast that Brazil will probably overtake Argentina this year to become the world’s number one supplier of soybean meal thanks to its large/record harvest.
Closing the session on April 6, CBOT soybean and soybean meal prices continued to decrease. The weekly update report on April 6 shows that US soybean export sales in the period from March 24 to March 30 were at a low level.
SHORT NEW
On April 5, the Seminar “Vietnam-Singapore: Logistic, Trade and Connectivity” was held under the co-chair of the Import-Export Department – Ministry of Industry and Trade of Vietnam, Trade Office – Embassy Vietnam in Singapore, Singapore Chinese Chamber of Commerce and Industry (SCCCI) and Singapore Logistics Association (SLA) took place at SCCCI headquarters, attracting a large number of Vietnamese and Singaporean businesses to attend. At the seminar, Vietnamese Ambassador to Singapore, Mr. Mai Phuoc Dung, assessed this as a meaningful activity that reflects the dynamism of businesses as well as the most realistic and specific working spirit of the Ministry of Industry and Trade and the need to connect with customers. connecting businesses between Vietnam and Singapore, especially in the field of Logistics, trade and services.
(Source: baotintuc.vn)
