CORN
Corn prices were higher on Tuesday after the Christmas holiday, and the USDA said corn and wheat inspections were higher than expected when weekly export inspections ended on December 21.
Prices for corn shipped by barge to the U.S. Coast for export continued to rise on Wednesday due to signs of strength in the corn export market and a decline in the U.S. dollar.
After two previous sessions of gains, corn prices fell on Thursday as traders assessed the possibility of rain in the forecast to help offset concerns about drought conditions in Brazil.
WHEAT
CBOT wheat prices ended Tuesday’s session up as traders were reacting to the possibility of shipping lane problems in the Black Sea after Ukraine attacked a large warship in Russia. The Egyptian minister said they had enough wheat for 4.3 months.
Wheat prices closed lower on Wednesday, as concerns about escalating wartime tensions in the Black Sea region put pressure on grain prices. Traders said no offers had been made in Pakistan’s tender to buy 110,000 tons of wheat.
Wheat prices turned higher on Thursday after tensions in the Black Sea increased when an aircraft carrier sailed into the River Danube port and collided with a Russian mine. In addition, wheat prices are also supported due to shortages due to high year-end purchases.
SOYBEAN
CBOT bean prices closed higher on Tuesday as traders were adjusting their positions ahead of the year-end holidays. Brazil’s rice crop has been harvested by farmers as dry weather is accelerating the crop cycle. The agriculture ministry said animal feed production in China increased in 2023 but the use of soybean meal as an ingredient Raw materials decreased by 11% compared to the previous year.
Closing Wednesday’s trading session, soybean prices rose as the market assessed whether rain in Brazil would ease drought concerns.
Bean prices turned lower on Thursday as market watchers forecast favorable rains in Brazil that could boost crop yields there.
Source: thitruonghanghoa.com
SHORT NEWS
Global freight transport is in a continuing recession, expected to last until the first half of 2024 due to high inventory levels and falling consumer spending. Maersk recently laid off 10,000 employees, in addition, FedEx has also encouraged its pilots to find additional jobs. (vnexpress.net)
Shipping line CMA CGM plans to increase the number of ships passing through the Suez Canal (Reuters.com)
