CORN
CBOT Corn prices rose on Monday as traders awaited updated weekly US crop ratings from (USDA).
Closing Tuesday, CBOT Corn prices were lower due to spillover weakness from soybean futures as well as position squaring ahead of the monthly supply/demand report released by the U.S. Department of Agriculture on Wednesday.
CBOT Corn prices rebounded on Wednesday as a solid domestic cash market supported the nearby July (CN24) contract.
CBOT corn prices fell on Friday, a day after the market hit a two-week high on concerns about hot and dry U.S. crop weather.
Hot and dry weather is expected across the southeast and eastern corn belt over the next 15 days, raising concerns about drought and stress on corn and soybeans, according to the Maxar forecast.
WHEAT
CBOT Wheat prices fell for the ninth consecutive session on Monday due to pressure from the expanded US harvest and falling Russian wheat prices
Closing Tuesday’s session, Wheat prices continued to rise, up more than 3% due to bargain buying after 9 sessions of decline and increased concerns about the crop in the world’s leading exporter, Russia.
Wheat prices turned lower on Wednesday as concerns about global export demand and a large US wheat harvest overshadowed support from falling Russian wheat output.
CBOT Wheat prices closed lower on Friday due to pressure from the increased harvest. The U.S. Department of Agriculture said the nation’s winter wheat harvest was 12% complete as of Sunday, above the five-year average of 6%.
SOYBEAN
CBOT bean closed higher Monday, consolidating after last week’s one-month low as traders awaited a crop condition rating due later Monday from the U.S. Department of Agriculture. Soybean planting in the US is considered 89% complete.
Cbot bean prices turned lower on Tuesday, on USA’s good crop condition rating and positioning ahead of the monthly supply/demand report from USDA\
CBOT bean prices continued to decline on Wednesday after the USDA raised its forecast for US old- and new-crop soybean inventories in a monthly report.
Closing Friday’s session, CBOT Bean prices hit a low due to positioning and profit taking before the weekend.
Source: thitruonghanghoa.com
SHORT NEWS
OTTAWA, ONTARIO, CANADA — The government of Canada will invest up to C$5.25 million ($3.64 million) to support research into a more resilient barley sector that is better equipped to respond to climate change and reduce greenhouse gas emissions.
Source: world-grain.com
