CORN
CBOT corn prices closed the first session of the week lower after risk premiums spiked overnight to start the new week.
Closing the third session, CBOT corn prices marked the third consecutive decrease. The amount of corn exported this week according to the Export Inspection report reached more than 550 thousand tons. In October, Brazilian corn exports were predicted by ANEC at 9.15 million tons.
Corn prices turned up in Wednesday’s trading session. The expected output of Brazilian corn at 119 million tons in this year according to CONAB is lower than USDA’s report of 129 million tons due to drought in the north.
Corn prices increased 5.5 – 8 cents to end Thursday’s trading session. USDA announced private corn sales to Guatemala reached 125 thousand tons
WHEAT
Wheat prices rose late Monday as traders eyed reports of continued dry weather in Australia and Argentina.
Wheat prices on the third session turned down sharply in response to positive information about supply prospects. The French Ministry of Agriculture estimates this year’s soft wheat output to be more than 35 million tons, higher than forecast in September. Russia and the United Nations returning to negotiations has created favorable conditions for Russian and Ukrainian grain to continue. access to global markets shows export prospects in the Black Sea.
Closing Wednesday’s trading session, wheat prices continued to decline due to supply pressure from the Black Sea and forecasts that the USDA’s report on global supply and demand for agricultural products will show rice inventories. noodles at the end of the period are higher.
The price of wheat at the trading session reached 5.7 USD/bushel, the wheat area in Hat is expected to decrease, this will lead to a decrease in wheat output, and a tightening of global supply.
SOYBEAN
In contrast to wheat, soybean prices closed lower on Monday as forecasts for a U.S. harvest cut oilseed prices to offset higher gains as rising tensions in the Middle East boosted energy prices.
Closing the third session, soybean prices increased after 2 consecutive days of decline. According to the Export Delivery report, soybean sales this week reached more than 1 million tons. A higher ratio of deliveries to exports than last year is one of the reasons for high prices.
CBOT soybean prices fell on Wednesday ahead of the USDA’s monthly report on global supply and demand for agricultural products on Thursday. USDA reported export sales of 121,000 tons of soybeans to China and 213,000 tons to other buyers.
Soybean prices suddenly soared on Thursday, USDA said private soybean sales reached 295 thousand tons.
Source: thitruonghanghoa.com
SHORT NEWS
The Indian government is actively considering the floor price for basmati rice exports even though the country is restricting exports (reuters.com)
Wheat prices are low, making wheat growers in the US quite disappointed after 3 years of drought, it is expected that wheat area may decrease (reuters.com)
DHL Company has just announced that it will increase freight rates according to the annual price increase adjustment. (vnexpress.net)
