Good news for good predictions!
Corn
The feed market started a new week with CBOT prices on a downward trend due to profit-taking pressure. However, agricultural commodity prices on the CBOT are still quite high due to the influence of previous consecutive increases.
The hot information from the protest in Buenos Aires is of great interest to many importers and exporters. But until today, it hasn’t recorded any information that affects agricultural exports in Argentina. It is known that Argentina has been facing extremely high inflation for many years, making the government of this country really serious in food policies in the near future.
With competitive prices and relatively good quality, Pakistan corn is interesting and purchased by Vietnamese traders. With far-term maize, prices remained stable as the strike in Argentina did not affect harvesting and production activities.
At the end of this week, the price of corn tends to increase due to the stalled planting situation in the US causing concerns about the prospects for this year’s harvest. In addition, world corn prices were also affected by Brazil’s severe weather in April, which threatened the country’s second-crop maize yield.
Wheat
Indian wheat is being appreciated for its abundant supply and competitive price thanks to the bumper crop in recent years. This is considered a good additional source for importing countries in the context of Black Sea wheat being interrupted.
Besides Indian Wheat, Vietnam port also has more South American wheat ships in May-June, with the Australian feed wheat imported quite stable.
Soybean and soybean meal
In the first trading session of this week, soybean meal prices have gone down. It is expected that the imported quantity of soybean meal of South and North in May will be high (over 500 thousand tons for both). This is also considered as the main factor affecting the price of soybean in the short term.
The soybean harvest in Brazil is in its final stages. Argentina is also trying to speed up the harvest in favorable weather conditions. This is also one of the important factors that made the price of this soybean drop this week.
It is forecasted that in the near future, soybean prices will be strongly influenced by information about the crop situation in the US, when the country is in the early stages of the planting season.
