CORN
In the early version of the week on August 14, the CBOT price was at 191 USD/ton, almost unchanged compared to the last version last week.
CBOT corn prices on August 15 closed lower at $188/ton, the risk aversion in the commodity market and the Chinese economy put pressure on cereal prices including corn. CBOT corn price on August 16 increased slightly at $189/ton, weakening dollar created grain prices
The price of CBOT corn on August 17 increased slightly at $191/ton, predicting hot and dry weather in the US amid fears of damage affecting CBOT corn prices. USDA said export sales reached nearly 940 trillion dong.
The last session of the week on August 18 increased to 193 USD/ton, the highest level of the week.
WHEAT
Due to weak US export demand, wheat prices fell. Analysts said that a good crop and exports from Russia added pressure on wheat prices. A check on US wheat exports showed a lower-than-expected level of more than 180,000 tons.
Wheat prices continued to fall for the third session amid widespread weakness in selling in the commodity market.
CBOT wheat price was almost unchanged as the market was recovering when it fell to the lowest level in the previous session. Russia’s attacks on Ukraine’s infrastructure continue, including ports and grain storage.
Wheat prices were lower on Thursday due to strong export demand from the US, high export volume from Russia and information that could be shipped to India. USDA said total wheat export sales in the United States reached nearly 340,000 tons.
SOYBEAN
Soybean prices on August 14 were $498/ton, higher than last week’s level due to US export demand and concerns about tight domestic supply. Last week, the US exported about 416 thousand tons of soybeans
Soybean prices on August 15 fell to $486/ton. The broad-based market weakness is part of the impact on bean prices.
Soybean prices on August 16 turned to rise to $492/ton, the size of the upcoming US harvest remains uncertain and traders are worried about the forecast of tight ending stocks.
Prices on August 17 did not change much, at $493/ton, while US export demand was stable. The USDA reported US soybean export sales of 1.5 million tons.
The price on August 18 was 500 USD/ton, the highest this week.
Source: thitruonghanghoa.com
