CORN
Closing session 10/10, the price of CBOT corn increased by 5.9 USD/ton. In the 11/10 session, it decreased by 2 USD/ton.
By the end of the week, the price of corn turned to increase by 1.8 USD/ton
According to the USDA supply and demand report on October 12, the US corn production this year is estimated at nearly 353 million tons.
US ethanol production recovered, estimated at 932 thousand barrels per day.
WHEAT
At the close of the session on October 10, wheat prices rose sharply by 21.2 USD/ton as traders were concerned about the recent escalation of tensions in Ukraine, which may slow down grain exports from the Black Sea region. .
Russia considers abolishing grain export quotas.
At the end of the 11/10 session, the adjustment dropped back to 13.6 USD/ton. By the session of October 12, wheat prices continued to drop sharply by 6.9 USD/ton.
By the end of the session on October 13, wheat prices increased by 3.7 USD/ton.
The agreement on a safe export corridor for Ukrainian grains that the United Nations is brokering is only valid until the end of November and traders are waiting for information on the upcoming negotiations between the parties. .
Two major grain exchanges in Argentina have cut their forecasts for wheat harvests due to the effects of prolonged dry weather.
BEAN AND SOYBEAN MEAL
Closing the first session of the week, the price of CBOT beans and soybean meal increased by 2.6 and 5.5 USD/ton, respectively.
Soybean seed and soybean meal prices closed the session on October 12 with a strong increase of 7.3 and 9.2 USD/ton, respectively after USDA’s supply and demand report.
Closing the session on October 13, soybean meal price adjusted down by 3.6 USD/ton.
The USDA surprised the market by cutting its estimate for this year’s soybean harvest to 117.4 million tonnes.
India allows export of broken rice that has been issued LC before 08/09
