CORN
Corn prices fell to their lowest level in more than three years on Monday amid pressure from falling crude oil prices on the global market, with oil prices reportedly down about 4%. In addition, favorable weather in Brazil also partly puts more pressure on prices
CBOT corn prices closed the third session higher again thanks to the closing of sell orders, for Wednesday’s session, corn prices decreased as market participants adjusted positions ahead of the government’s important supply and demand report. Analysts surveyed by Reuters expect U.S. old-crop corn sales to reach between 400,000 and 1,000,000 tons in the week ending January 4.
Corn prices continued to fall on Thursday under heavy supply pressure and as traders adjusted positions ahead of the release of US crop data on Friday. In a daily sales announcement, USDA separately confirmed the private sale of 175,000 tons of corn to Mexico.
WHEAT
Wheat prices closed lower on Monday as a drop in crude oil prices impacted the grain market. In addition, analysts also said snow and rain are creating favorable conditions for the crop
Wheat prices turned up on Tuesday, recovering after a sharp drop on Monday. Egypt said it had bought 420,000 tons of wheat from Russia and Ukraine in an international auction. Traders are also watching a spell of freezing temperatures in France, which could cause further difficulties for wheat growers after a sowing campaign was disrupted by rain.
Wheat prices continued to rise for a fourth session, as attacks on merchant ships in the Red Sea continued to raise concerns about global trade flows. Traders said weak demand for US supplies was slowing gains.
Wheat prices turned lower on Thursday as traders adjusted positions ahead of the USDA’s agricultural data release on Friday. USDA reports that net U.S. wheat export sales for the week ending January 4 were 128,100 tons for marketing year 2023/24 shipments
SOYBEAN
Bean prices closed Monday at their lowest level in two years, with favorable weather as well as falling crude oil prices putting pressure on bean prices. USDA said US soybean export inspections were nearly 675 thousand taans, much lower than analysts’ expectations.
After Monday’s decline, bean prices rebounded on short-selling activity, with analysts saying the market had become oversold after sinking to its lowest since December 2021. Traders continue to monitor the weather in South America, after recent rains benefited crops in Brazil, the world’s top soybean exporter.
In contrast to wheat, bean prices closed lower Wednesday on signs of more rain reaching drought-hit Brazil and growing concerns about export demand for the U.S. crop, traders said. know.
Bean prices were unchanged on Thursday. Traders will look to USDA estimates for South American crops after hot, dry weather hit farms in many parts of Brazil. Recent rains have improved harvest hopes.
Source: thitruonghanghoa.com
SHORT NEWS
ZIM shipping line announced the addition of a port in Cai Mep to expand ZMP services. This new addition to the ZMP service positions ZIM as the only major carrier offering direct connections from Vietnam, a rapidly growing economy in Southeast Asia, to the Greater China Region. Trung Hai. This promises to provide ZIM customers with competitive transit times and reliable service.
(phaata.com)
