CORN
At the end of the first trading session of the week (October 24), CBOT corn price adjusted down after the previous 2 consecutive increases. American farmers are currently in a busy corn harvest with 61% of the planting progress. On the next trading day (October 25), the price of CBOT corn tends to increase by $1.9/ton.The grain exporters association ANEC will recently cut its estimate for Brazilian corn exports to 5.5-6.4 million.
At the end of the session (October 26), the price of CBOT corn decreased slightly by $0.5/ton. Close to the end of the week, the price of CBOT corn continued to decrease by $ 1.1/ton and was the second consecutive decrease due to the recent information about the gloomy export situation of the US.
WHEAT
Wheat prices at the beginning of the week were also revised down as weak demand and rainy weather in the US wheat belt helped improve winter crop conditions. Closing the session (October 25), CBOT wheat price dropped another $1.5/ton, marking the second consecutive drop due to weak demand and rainy weather.
CBOT wheat price on October 26 (October 26) turned back to $ 2.1/ton after 2 previous consecutive declines, causing the price to drop to the lowest level ever. Following the decline of corn, CBOT wheat prices at the end of the week turned down slightly by $0.7/ton
SOYBEAN AND SOYBEAN MEAL
Soybean price are also on a downward trend due to the harvest season. However, on the next trading day (October 25), CBOT price adjusted to increase again to $3.7 and $7.6/ton, respectively. China’s increased import demand for soybeans from the US is information that helps support price increases for CBOT during this time.
Bean prices on (October 26) fell slightly by $0.1/ton while the price of soybean meal increased sharply by $7.6/ton.
For soybeans, there was not much change at the weekend, while the price of CBOT soybean meal fell by $7.4/ton right after the previous increase.
