CORN
Corn price at the beginning of the week on September 26 continued to decrease by 4.1 USD/ton. On September 27, the price of CBOT corn increased slightly by 0.5 USD/ton.
At the end of the session on September 29, corn price adjusted slightly back to 0.4 USD/ton.
The US dollar appreciates, while crude oil prices go down are factors that have a negative impact on commodity prices.
US ethanol production falls to 19-month low.
According to a September 28 report, South Africa’s 2022 maize harvest is estimated at 15.26 million tons, down 6.5% from the previous year.
Corn planting progress in Argentina is being held back by a prolonged drought.
WHEAT
Wheat prices closed September 26, down 8.2 USD/ton. On September 28, wheat prices increased sharply by 11.7 USD/ton, as traders were concerned about the escalating conflict situation in Ukraine that could lead to disruptions in grain exports from the Black Sea region.
At the end of the session on September 29, wheat prices dropped by 2.6 USD/ton.
The market is paying attention to the quarterly report on US Grain Inventories to be released by USDA on September 30th. This is an important report that is updated quarterly by USDA and often has a strong impact on the price movement of agricultural products on CBOT.
Ukraine sells 2 ships of wheat for animal feed to Vietnam.
BEAN AND SOYBEAN MEAL
Closing the first session of the week on September 26, the prices of soybeans and CBOT soybean meal decreased by 5.3 and 6.4 USD/ton, respectively. On September 28, the price of beans and soybean meal CBOT did not change much.
Closing session on September 29, the price of CBOT soybeans increased slightly by 0.7 USD/ton while soybean meal price decreased by 6.1 USD/ton.
The progress of soybean cultivation in Brazil is fast.
Sales of soybeans to the market of Argentina slowed after the government decided to restrict foreign currency purchases to companies enjoying favorable exchange rates.
Louis Dreyfus Company (LDC) today announced that it has signed an agreement to acquire the cereal business Emerald Grain from Longriver Farm.
