CBOT corn price increased for 4 consecutive sessions!
Corn
CBOT corn price closed on June 9, increased by 3.4 USD/ton and was the 4th consecutive increase.
It is expected that on June 10, a South African corn ship, VOKARIA, with a volume of 55.6 thousand tons, will arrive at Cai Lan port, there are rumors that all goods are from a trading company.
USDA’s weekly update report shows that US old-crop corn export sales came in at 280,4 thousand tonnes, up 51% from the previous week and 19% above the 4-week average. recently.
Wheat
Closing the session at the beginning of this week (June 6), CBOT wheat price turned back to increase sharply by 19.5 USD/ton, but on 07/06, it dropped sharply by 7.9 USD/ton due to selling pressure to take profit on the trading CBOT.
According to Returns on June 8, India may soon allow merchants to ship around 1.2 million tons of wheat as it seeks to clear goods stuck at ports since the ban grain exports last month.
It is expected that on June 9, the ship BLUE AKIHARABA carrying 60,000 tons of Australian wheat will arrive at Vung Tau port.
Soybean meal
For soybean meal, at the end of June 9, the price of CBOT also increased by 13.1 USD/ton.
Now the soybean harvest in Brazil has ended and in Argentina is also nearing completion. For corn, Argentine farmers are at the beginning of the main harvest, and in Brazil it is the beginning of the main harvest. Therefore, the market is paying a lot of attention to the forecasts of US corn and soybean production this year, which have a great influence on world prices in the near future.
Concerns have increased again about grain exports from the Black Sea region, in the context of a new tense situation in the war between Russia and Ukraine.
