CORN
At the end of the first session of the week (April 10), corn price turned to increase by 4.2 USD/ton due to the market’s concerns about the uncertainty of export supply from the Black Sea region. The market is paying attention to USDA Grains and Oilseed Supply – Demand report.
Corn prices fell in the trading session on April 11 down slightly by 1.2 USD/ton. In the Supply – Demand report that USDA ships on Monday, corn exports from Russia and Ukraine are estimated to increase to 4.1 million tons and 25.5 million tons, 2 million tons higher than last month’s report, respectively. However, on April 12, the price of corn increased by 2 USD/ton, the amount of corn in Argentina was cut in the US Supply-Demand report, which was one of the reasons for the increase in world prices.
CBOT corn prices fell 1.5 USD/ton in the session on April 13, USDA’s latest weekly update report released on April 13 showed that US corn export sales have been disappointing in recent weeks. One of the reasons for the price drop.
At the end of the week, the price of CBOT corn increased by 5.5 USD/ton, positive information about China’s demand for US corn in recent days was a factor that helped support the price increase in the last session.
WHEAT
CBOT wheat prices closed the first session of the week also increased by 1.1 USD / tonne, according to Reuters last Friday, Russia said that it may ignore / not renew the grain agreement in the Black Sea, this agreement will expire. next May. In Russia, the Ministry of Agriculture of this country has increased the export tax on wheat and barley applied in the period from April 12 to April 18.
Like corn, wheat prices fell after the release of the USDA Supply-Demand report increased the Black Sea region’s wheat export estimate for marketing year 2022/23, specifically to 45 million tonnes for maize. Russia and 11.45 million tons for Ukraine, 1.5 million tons and 1 million tons higher respectively than reported in March. In line with the market trend, wheat prices increased back to 2 USD/ton, the market still has Concerned about the uncertainty of export supplies from the Black Sea region, the UN-brokered Black Sea grain safe corridor agreement expires in mid-May.
Closing the session on April 13, the price of CBOT wheat fell by $4.6/ton, in the short term, abundant export supply with competitive prices from the Black Sea region is still a factor causing downward pressure on world grain prices. gender. At the end of the week, the price of CBOT wheat increased by 5.7 USD/ton, the market had concerns about the uncertainty about the supply of grain for export from the Black Sea region.
SOYBEAN AND SOYBEAN MEAL
Contrary to the market trend, earlier this week, soybean and soybean meal prices fell by 1.9 and 4 USD/ton, respectively. Abundant supply from the ongoing harvest in Brazil remains the key factor driving down world soybean and soybean meal prices for the time being.
Closing the session on April 11, soybean and soybean meal prices turned to increase by 3.7 and 7.8 USD/ton after USDA’s Supply – Demand report showed that Argentina’s soybean and soybean meal production was cut more than expected. . However, this report still maintains the US soybean ending inventory estimate for 2022/23 at 5.7 million tons, not falling as traders expected.
The price of soybeans and soybean meal CBOT closed the last session with an increase of 2.6 USD/ton. due to concerns about a shortage of export supplies from Argentina.
Closing the session on April 13, soybean meal prices increased by $ 3.7 / ton, the third consecutive increase, while the price of soybeans decreased by $ 1.2 / ton, Chinese customs data released on April 13. showed that the country’s soybean imports in March increased by 8% compared to the same period in 2022.
In the last session of the week on April 13, soybean and soybean meal prices fell by 0.2 and 4.3 USD/ton, respectively due to selling pressure to take profit on the trading floor after 3 consecutive gaining sessions.
SHORT NEW
The World Logistics Passport Program (WLP) has just added Vietnam to the list of logistics and trade hubs in the region, and signed nine partners who are organizations and businesses in Vietnam. WLP provides financial and non-financial benefits to merchants, freight forwarders and logistics providers to increase their trade through strategic partners including ports, airports, airlines and customs.
(Source: vneconomy.vn)
