CORN
Memorial day holiday market on Monday, closing session on May 30, CBOT corn price decreased by 3.9 USD/ton. Abundant supply from the main crop in Brazil is contributing to downward pressure on world corn prices.
CBOT corn prices closed down $5.94 per bushel on May 31, pressured by the prospect of favorable rain in the US Midwest next month, widespread concerns about demand for the commodity and sales in the coming months. end of month.
Closing on June 1, CBOT corn prices were flat as weather concerns caused a short-term offset, erasing early declines linked to macroeconomic concerns and uncertainty about the economy. demand.
Going against the market trend, the price of Corn CBOT closed at the end of the week down to 5.92 USD / bushel. The passage of the US debt ceiling bill in the House of Representatives gave broad support to grains as well as crude oil futures and the Wall Street stock market.
WHEAT
CBOT wheat prices at the end of the session on May 30 turned back sharply down by 9.2 USD/ton due to the market’s expectation of a bumper harvest this year in Russia, the world’s largest exporting country, while measuring the demand of traders. Recently, large imports have been weak.
Wheat prices closed at a low on May 31, under pressure from strong global export competition and selling activity at the end of the month. CBOT fell at $5.91 per bushel, the lowest level since December 2020. .
Wheat prices rose $5.94 a bushel, after falling to a low on Wednesday due to a rain shower following a drop in prices, fueled by strong competition for the export business and economic worries macro. Wheat price continued to increase in the last session of the week.
SOYBEAN
Closing the first session of the week, CBOT soybean price was locked at 15 USD/ton. Soybeans closed on May 31, 2023, continuing to decline due to the prospect of improving the US crop weather in June, selling activity at the end of the month and concerns about the fate of the US debt ceiling agreement. Ky, the trader said.
Closing the session on June 1, soybean prices rebounded on a short-term offset recovery after falling to the lowest level in nearly 18 months, while previous months ended lower. Futures contracts were put on hold due to concerns about slowing demand for the commodity, especially from top global soybean buyer China. Data showed manufacturing activity in China fell faster than expected in May.
Soybean prices closed higher at the end of the week on fears of an extension of drought in the US Midwest crop belt and bought a bargain at the beginning of the new month, after a sharp decline in May.
SHORT NEWS
Currently, Vietnam is recording an increase in the demand for bonded warehouses invested with modern, in-depth and quality systems, most of which come from foreign customers.
As of 2020, Vietnam has about 180 bonded warehouses nationwide, managed by 22 customs departments of provinces and cities and carrying out customs procedures brought in and out by customers.
In which, the 10 largest bonded warehouses in Vietnam are:
- U&I Logistics Joint Stock Company
- Vietnam Post Corporation
- Gemadept Logistics Co., Ltd
- Dai Duong Trading Service Joint Stock Company
- Yusen Vietnam Co., Ltd
- CM Logistics Vietnam Co., Ltd
- Ben Tre Sugar Joint Stock Company
- Hai Phong Trading Services And Import-Export Joint Stock Company
- Hoang Thanh Production Co., Ltd
- Port Transport Warehouse Joint Stock Company
(Source: phaata.com)
