CORN
CBOT corn prices ended the first session of the week falling to a low level due to technical selling and spillover pressure from soybeans and wheat, but remained within the narrow trading range of the previous three sessions. More than 530 thousand tons is the amount of corn exported in the most recent week of the United States according to the USDA report. KFA Company (Korea) bought 125 thousand tons of raw corn for animal feed, of which the US accounts for nearly 50% and the rest may come from South America or South Africa. MFG of Korea also purchased 132 thousand tons of corn with optional origins.
Contrary to the market trend, at the end of Wednesday’s session, CBOT corn prices decreased because export demand in the US remained weak and crop weather was forecast to improve in South America.
Thursday CBOT corn prices continued to decline on Thursday, data showed weekly export sales of 748 thousand tons of corn were sold in the week ending October 2
WHEAT
CBOT wheat prices fell on Monday, hit by technical selling as traders watched grain shipments from Ukraine. Ukraine’s success on the Black Sea export corridor caused a sharp increase in the number of rail cars arriving at the ports of the Odesa region. According to the USDA, the amount of wheat exported in a recent week was nearly 190 thousand tons.
Wheat prices increased slightly on Tuesday and Wednesday due to technical buying concerns and ongoing political issues in the Black Sea and Middle East regions. Recently, China imported 500 thousand tons of wheat from both the US and Canada. The market expects that China can import up to 2 million tons of teeth a year, 2 million tons more than the previous year.
Wheat prices in the fifth session turned down, export sales reports showed that the amount of wheat sold in the week ending October 26 was 275.6 thousand tons, of which the two countries buying the most were Thailand and Taiwan.
SOYBEAN
In line with the market trend, CBOT soybean prices closed the first session of the week down due to improved weather, which had a positive impact on the crop in South America and selling to take profits when prices increased in the previous session. Necessary rainfall fell over the weekend in Argentina’s agricultural heartland and more showers are expected in the coming days, helping to recover from the drought. USDA reported the latest US soybean exports were nearly 190,000 tons. Closing the session in early November, soybean prices increased slightly after a period of technical buying due to export optimism. Estimates of Brazil’s soybean exports in October reached 5.96 million tons, slightly lower than the previous forecast a week ago. Bean prices continued to increase slightly on Wednesday, Brazil’s bean production is forecast at 165 million tons, from 164.1 million tons previously. Closing Thursday’s session, beans continued to rise as China said imports would likely remain high. A meeting between US agricultural representatives and their Chinese counterparts in Beijing on Thursday in an effort to boost agricultural trade amid strained relations between the two countries raised hopes for soybean demand. in the US of China increased.
Source: thitruonghanghoa.com
SHORT NEWS
India’s Prime Minister said on Saturday that he will extend the free grain program for another five years as the government protects consumers from rising grain prices. This extension will cause India to buy more rice when supplying rice. provided free of charge to more than 800 million people (reuters.com).
The General Department of Customs has announced that Vietnam’s import-export turnover reached approximately 523 billion USD, with the import proportion alone, from the beginning of the year to October 15, the total domestic turnover reached 250.2 billion USD, a decrease nearly 40 billion USD (als.com.vn)
