CORN
CBOT corn prices fell on Monday on technical selling and a gap due to a stronger bean market after rains eased recent drought conditions and improved crop conditions. According to the USDA, nearly 950 thousand tons of corn were exported last week.
Closing the third session, CBOT corn prices fell amid pressure from prolonged crude oil prices increasing security risks in the Red Sea region. In addition, China has also lifted restrictions on corn and other crops from Russia
Corn prices continued to fall on Wednesday after the US government closed two important railway lines leading into Mexico to cope with the rising wave of migrants. Corn prices did not fluctuate much on Thursday.
WHEAT
Wheat prices closed lower on Monday as profit-taking from previous gains and slowing US export demand put pressure on prices. The USDA said last week the US exported about 285,000 tons of wheat, lower than traders’ estimates.
Wheat prices recovered on Tuesday even as Egyptian purchases of Russian wheat added to Russia’s large supplies and lower prices. 10 million tons of wheat were exported by Ukraine through the Black Sea corridor according to information from Ukraine’s deputy prime minister.
Wheat prices turned lower on Wednesday as analysts raised estimates for Black Sea production and traders adjusted their positions ahead of Christmas.
Closing the session on Thursday, wheat prices increased again
SOYBEAN
In contrast to wheat, bean prices rose on Monday as US export demand improved and Argentina’s new government said it would raise export tariffs on soybean meal. South America’s recent rains have stabilized drought-stricken crops.
Bean prices fell on Tuesday and Wednesday as weather forecasts suggested rain in Brazil over the next few days.
Closing Thursday’s session, soybean prices continued to decline for the third consecutive session due to favorable weather in Brazil and some of the world’s leading oilseed exporting countries.
Source: thitruonghanghoa.com
SHORT NEWS
Hapag Lloyd and OOCL recently said they would avoid the red sea after attacks by Yemen’s Houthi group on ships disrupted global trade. Missile attacks on cargo ships throw supply chains into disarray
(giacatloi.vn)
Shipping line CMA CGM has applied the Red Sea Charge (RED SEA Charge) due to security concerns in this area.
(phaata.com)
