The price of Commodities dropped at the same time
Corn
At the beginning of the new week, corn prices increased slightly, but gradually by the middle of the week, the prices of CBOT corn and other raw materials all fell due to the pressure of profit-taking on the US exchange during the upcoming long holiday. Besides, the price of commodities went down partly due to the decline of world crude oil price. The strong increase of the US dollar at the end of this week is also a factor affecting the commodities prices. However, at the end of the week, corn price was adjusted to increase again after dropping in the previous 2 sessions.
Wheat
Going against the general trend of the market and the same situation with corn, wheat prices increased slightly at the beginning of the week. However, Ukraine’s supply problem still brings many concerns to the market because the country is in the harvest season, but there is not any positive information for exports yet. Farmers in the US are speeding up the wheat harvest. Besides, the evaluation information about the condition of spring crops also showed positive compared to the same period last year.
Russia is coming to harvest winter wheat, Australia is expected to start harvesting from October onwards.
Soybean – Soybean meals
Soybean and soybean meal prices fell at the beginning of the week due to widespread selling pressure and the overall decline of the global stock market. The issue of grain supply from Ukraine still causes many concerns to the market.
Palm oil prices this week continued to decline after the downward policy of palm oil and soybean prices. It is known that this is the 3rd consecutive decrease of CBOT soybean oil price
