CORN
Closing the second session, CBOT corn prices increased due to support from export sales to Mexico and technical transactions. USDA said today that exporters sold nearly 150 thousand tons of corn to Mexico for delivery in the 2023/2024 crop year.
Corn prices rose on Tuesday amid continued concerns about adverse dry conditions in Brazil’s north-central growing regions. Producers in the US have sold more than 100 thousand tons of US corn to Mexico for delivery in the 2023/2024 crop year.
Corn prices fell on Wednesday amid an overall gloomy market mood, with analysts saying corn was pressured by weather forecasts for rain in Brazil next week. The US Department of Agriculture (USDA) confirmed Private sales of 124,000 tonnes of US corn to Japan for delivery in the 2023/24 marketing year, following recent US corn sales to Mexico.
On Thursday, corn prices recovered a bit but were still low in general.
WHEAT
Wheat prices rose in the first session of the week on expectations that the USDA’s weekly crop progress will show a stable rating. Many parts of the US are still facing concerns due to dry conditions in the US, including Kansas, a top producer of winter wheat. Concerns about prolonged rainfall in France – the EU’s largest growing country – also caused European wheat prices to increase.
Wheat prices in the third session did not change much, the crop progress report showed that 93% of wheat was planted as of November 12. Ukraine’s agriculture ministry reported output of 51.3 million tons through November 10.
Wheat prices retreated sharply on Wednesday and Thursday to a three-year low amid further predictions of strong supply and weak demand. Meanwhile, reports of slightly lower consumption from key importers in the Middle East and Southeast Asia continued to put pressure on prices. US export data underscores concerns about competition from cheaper Black Sea wheat supplies.
SOYBEAN
Following market trends, soybean prices closed sharply higher on Monday due to continued concerns about stressful crop weather in Brazil and amid signs of strong demand from China. USDA said exporters sold more than 200 thousand tons of soybeans to China.
Soybean prices closed sharply higher on Tuesday as soybean meal set a contract high, with soybean meal extending gains as falling output in exporting country Argentina is expected to shift demand to the United States.
CBOT bean prices fell on Wednesday and Thursday due to the ongoing favorable rain forecast in Brazil. USDA has confirmed private sales of 220,000 tons of US 2023/24 soybeans to unspecified destinations. USDA data on Thursday showed weekly U.S. soybean export sales of more than 3.9 million tons, marking the highest combined year sales total since 2012, after Chinese buying spree. Nation skyrocketed
Source: thitruonghanghoa.com
SHORT NEWS
Recently, a storm caused 12 crew members in Türkiye to go missing off the coast of the Black Sea. (reuters.com)
MSC is the shipping company that owns the most old containers in the world, followed by Maersk and Evergreen. (phaata.com)
