CORN
Corn closed the first session of the week on May 8 without much movement, traders are waiting for information on whether the agreement to export Black Sea grains will be extended after May 8. To the session on May 9, corn price decreased by 4.6 USD/ton, influenced by the positive news from the crop in the US. Mooth negative news on demand is USDA announced that China has just canceled more orders to buy US corn with a total amount of about 272 thousand tons.
Closing the session on May 10, the price of CBOT corn turned back to $3.7/ton, due to the market’s concerns about the risk of supply disruption from Ukraine in the near future. Despite encountering many logistical difficulties, Ukraine is still the world’s fourth largest corn exporter. However, to the session on 11/5, the price of corn decreased by 4.6 USD/ton. Information about US corn export sales at a low level in recent weeks is a factor that affects the price of CBOT again.
At the end of the week, corn prices increased by 1.6 USD/ton. According to USDA’s report released on 12/5, it is estimated that Ukraine’s corn export volume in the year (7/2023 – 6/2024) is only 16.5 million tons. , a sharp decrease of 35.3% compared to 2022/23.
WHEAT
CBOT wheat price on May 8 dropped by 3.2 USD/ton due to selling pressure to take profit on the trading floor after having increased strongly for the previous 3 consecutive sessions. Closing the session on May 9, the price of dancing noodles decreased by 3.9 USD/ton. For wheat, winter crop conditions in the US also continued to show a positive improvement, which was a factor that had a negative impact on the trading price on CBOT.
Closing the session on May 10, the price of wheat fell slightly by 0.8 USD/ton, this is the 3rd consecutive decrease. Winter wheat conditions in the US are showing a positive improvement, which is a factor that has a negative impact on the exchange price on CBOT. Wheat prices continued to decline in the session on 11/5, wheat prices decreased by 5.1 USD/ton,
Closing the last session of the week on May 12, wheat price rebounded to $2.9/ton after a series of sharp declines in the previous 4 consecutive sessions.
SOYBEAN AND SOYBEAN MEAL
Closing the session on May 8, soybean price decreased by 1 USD/ton while soybean meal price increased by 0.9 USD/ton. The weather situation in the US is going well for the planting of new-season soybeans in the US, helping the market to have an optimistic initial assessment of the prospect of the new crop of 2023/24. The price of soybeans and soybean meal CBOT fell sharply by 7.1 and 8.7 USD/ton on May 9. The fast pace of corn planting in the US is helping the market to have optimistic expectations about the prospects for production in 2023/24.
Soybean prices fell 3.7 USD/ton on May 10 while soybean meal prices increased slightly by 0.6 USD/ton. Prices fell due to information about the fast progress of soybean planting in the US, in addition, abundant supply from Brazil or the fact that Argentine farmers are in the midst of a great soybean harvest are also factors. impact on world soybean prices.
Soybean prices closed at the end of the week down 5.7 USD/ton, in the Supply – Demand report USDA forecast that US soybean production will reach 122.7 million tons, thereby having a negative impact on CBOT soybean prices, meanwhile, soybean meal price increased by 1.7 USD/ton.
SHORT NEW
Recently, DHL express launched a sustainable delivery service – GoGreen Plus based on the results of a survey on the importance of sustainability for small and medium businesses. GoGreen Plus is a new service that allows customers to reduce their carbon footprint during the transportation of their shipments, through the use of sustainable aviation fuel (SAF). The service is designed to be flexible, applicable to both individual shipments. Users or businesses can optionally adjust the desired carbon reduction and the amount of SAF used.
(Source: vnexpress.net)
