CORN
CBOT corn prices rose slightly Monday as analysts monitored the outlook for U.S. plantings. Traders say corn is about to have a good early planting period in the US. Ahead of USDA’s separate monthly supply/demand report due out on Thursday, analysts surveyed by Reuters expected the government to lower its forecast for 2023/24 U.S. corn inventories. Corn prices are supported by ample supplies and forecasts of good growing weather in the heart of the U.S. Midwest corn belt later this month.
Corn prices turned down on the third session due to forecasts of favorable growing weather in the US. The United States faces stiff competition in exports to China and global buyers from Brazil, the world’s largest soybean supplier. The commodity weather group said planting rates will accelerate in the Midwest later this month. The company said heavy rains in the Mississippi Delta over the next few days will slow seeding and cause isolated flooding.
Corn prices closed higher on Wednesday as traders adjusted positions ahead of the USDA’s release of monthly crop data on Thursday. However, going into Thursday’s session, CBOT corn prices ended low as USDA forecast domestic grain supplies would decrease and predicted more would be used to produce ethanol and animal feed. USDA reports U.S. old-crop corn export sales for the week ended April 4 at 325,500 tons, a marketing year low and falling below trade expectations.
WHEAT
Wheat prices closed the first session of the week stable, traders assessed weather risks for crops. Analysts said they were tracking the rains that missed part of the Plains’ hard red winter wheat belt, along with adverse winds. In its monthly report released on Thursday, the USDA is expected to increase its estimate of 2023-24 US wheat ending stocks from March, analysts said.
Wheat prices fell on Tuesday on expectations that improved rainfall would boost crops in the southern Plains. The USDA said 56% of the U.S. winter wheat crop was in good to excellent condition, the best for this time of year since 2020.
Wheat prices turned higher on Wednesday, with traders saying concerns about conflict in Ukraine and dry weather risks for crops in the Black Sea also supported futures, helping CBOT wheat avoid losses. losses amid a falling dollar.
Closing Thursday, wheat prices fell, putting further pressure on corn prices, although tensions in the Black Sea region kept prices below market prices. The U.S. Department of Agriculture’s (USDA) monthly supply and demand report forecasts lower domestic wheat supplies, lower domestic consumption, flat exports and higher ending stocks. USDA reported U.S. old-crop wheat export sales for the week ended April 4 at 80,700 tons and new-crop wheat sales at 274,400 tons, in line with trade expectations.
SOYBEAN
In contrast to wheat prices, CBOT soybean prices ended lower on Monday as stiff competition for US export sales from Brazil and concerns about demand from top importer China continued to weigh on them. market. In Brazil, the world’s biggest soybean exporter, harvest reached 78% of the planted area as of last Thursday, down from 82% a year earlier, agribusiness consulting firm AgRural said. .
Bean prices continued to fall on Tuesday amid concerns about slowing demand from China. The United States faces stiff competition in exports to China and global buyers from Brazil, the world’s largest soybean supplier.
Bean prices fell for the third straight session of the week as they set a one-month low as traders awaited US and Brazilian crop data due on Thursday. Brazil’s Conab agency will also update its production estimates.
CBOT bean prices ended low on Thursday, as USDA forecast both global supplies and the Brazilian soybean crop to remain high. USDA reported U.S. soybean export sales for the week ended April 4 at 305,300 tons, below trade expectations of 200,000 to 600,000 tons.
Source: thitruonghanghoa.com
SHORT NEWS
During the dialogue with Hai Phong City, many import-export businesses reflected that the electronic customs network system often encountered problems… causing businesses to delay declaration, affecting delivery progress, and goods not being cleared. important but backlogged. In addition, many other businesses reported unreasonable fees and surcharges related to import and export goods.
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