CORN
Corn prices fell in the first session of the week, due to pressure from an extended harvest from the US, technical selling and uncertainty about demand for corn. USDA reported U.S. corn export inspections for the week at more than 640,000 tons.
Going against the market trend, corn prices closed higher on Tuesday thanks to traders buying at low prices as corn dropped to a near three-year low, but gains were somewhat limited. constrained by the expanded harvest in the US and concerns about weak export demand. Corn prices continued to increase in the fourth session.
CBOT corn prices fell on Thursday due to weak overall demand for U.S. supplies as the harvest expands, coupled with concerns about the health of the global economy. In addition, USDA also confirmed that US sales to Mexico reached more than 137 thousand tons.
WHEAT
Wheat prices fell in the first session of the week due to profit-taking from last week’s increase as well as strong export competition from Russia. The heatwave in southeast Australia is being closely watched by traders.
Wheat prices continued to decline on Tuesday due to export competition and technical sales from Black Sea suppliers.
After a series of continuous declines, wheat prices closed the fourth session with a sharp increase in the context of increased demand. The trade dispute between Poland and Ukraine escalated after Warsaw summoned Kyiv’s special envoy following the Ukrainian president’s statement on the ban on Polish grain imports.
Wheat prices turned sharply lower on Thursday due to a stronger dollar and weakness from corn and soybeans. Ukraine has agreed to license grain exports to Slovakia and pushed for a deal with Poland to end its neighbors’ restrictions on grain it is forced to transport by road.
SOYBEAN
Soybean prices closed the second session down to their lowest level in a month. USDA confirmed that it privately sold 123 thousand tons of soybeans from the US to China. Analysts say Brazil this year is expected to experience extreme heat this week, affecting soybean planting.
Soybean prices continued to decline in the third session, the Brazilian Crop Supply Agency said soybean production in the 2023/24 crop year is expected to reach more than 163 million tons. Soybean prices continued to decrease on Wednesday, September 20. The USDA confirmed it sold 120,000 tons of beans to unknown buyers. According to data, China’s soybean imports from Brazil in August increased 45% from a year earlier.
Following the market’s decline, soybean prices also fell sharply on Thursday due to disappointing weekly export sales, an increased US harvest and economic concerns. US soybean export demand has decreased amid abundant supplies from Brazil.
Source: thitruonghanghoa.com
SHORT NEWS
The project to develop waterway and logistics corridors in the Southern region is preparing to start construction, using loans from the World Bank. This is an urgent project for which the Ministry of Transport has prioritized resources for this issue. (baotintuc.vn)
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