CORN
The United States Department of Agriculture estimates the 2023 U.S. corn acreage at 94.1 million tons. Corn prices were pressured by larger-than-expected US corn acreage data due to USDA.
Closing Wednesday, CBOT corn prices hit a two-and-a-half year low, but support from a rising wheat market offset pressure from expanding U.S. acreage and improved crop weather. benevolent. In addition, recent rainy weather across the central farm belt and the southern Midwest has limited corn gains. Corn production this year is estimated at about 28.5 million tons, the agriculture ministry said.
WHEAT
Wheat prices ended the week lower, with USDA reporting total US sown acreage in 2023 at 49,628 million acres. In addition, the extension of the Black Sea grain deal is unlikely to be renewed as Russia says it has no reason to extend it, but Russia assures poor countries that Russian grain exports will not be renewed. continue.
The President of Ukraine and the German Chancellor called for an extension of the agreement to allow the safe export of grain and fertilizers from three Ukrainian Black Sea ports.
After previous losses, wheat prices rose on Wednesday as slow winter wheat harvests and worsening spring conditions boosted seasonal activity and a short offset lifted prices from their lowest in more than a year. past 2 weeks.
SOYBEAN & SBM
After USDA reported soybean acreage for 2023 and inventories on June 1 were lower than expected, CBOT soybean prices rose. USDA also confirmed that the US sold China 132,000 tons of soybeans to China alone, and Brazil exported 13.87 million tons of soybeans in June.
Soybean prices remained supported by a smaller-than-expected soybean acreage estimate in the USDA report.
Source:dautuhanghoa.vn
SORT NEWS
The shipping industry faces climate change, huge emissions from networks intertwined throughout global shipping. With the proposal to apply a global surcharge on emissions from shipping, it will be difficult to get consensus. The Marshall Islands and Solomon Islands, which have been campaigning for a surcharge for the past decade, are proposing a tax of $100/ton, but the surcharge needs approval from China, America and other European countries to be able to become a reality.
Source: Phaata.com
