CORN
CBOT corn prices rose sharply on Monday, recovering after a week at multi-year lows due to buying activity aimed at offsetting drought conditions.
CBOT corn prices fell on Tuesday as the Midwest crop tour began to show positive results for the grain, but drought conditions in some Midwest regions caused prices to drop to lower levels.
By the close of trading on Wednesday, CBOT corn prices edged higher in a volatile session as speculators covered their short positions and traders monitored the results of the crop tour.
Chicago Board of Trade (CBOT) wheat futures hit a new contract low on Thursday as lower Black Sea wheat prices and a stronger dollar continued to erode the competitiveness of U.S. grain, analysts said.
Analysts noted that CBOT corn prices fell on Thursday due to positive results from the major crop tour bolstering expectations of a bumper U.S. harvest.
WHEAT
CBOT wheat prices fell on Monday as a bumper harvest in the Black Sea region drew attention away from poor crops in France and Germany.
Analysts said CBOT wheat prices rose on Tuesday as a weaker dollar made U.S. wheat more competitive in the global market, but strong crop ratings from the U.S. Department of Agriculture exerted pressure on prices.
CBOT wheat prices declined on Wednesday due to ample global supplies and cheap Black Sea export cargoes putting pressure on prices, despite the potential for a Canadian rail strike on Thursday.
CBOT wheat futures hit a new contract low on Thursday as lower Black Sea wheat prices and a stronger dollar continued to reduce the competitiveness of U.S. grain, analysts said.
SOYBEANS
CBOT soybean prices increased on Monday due to buying activity to offset shortfalls and weather concerns after hitting a four-year low the previous week amid forecasts for record U.S. yields.
CBOT soybean prices rose on Tuesday as a weaker dollar and increased export demand supported the market, with traders watching reports from the ongoing Pro Farmer Midwest crop tour.
CBOT soybean prices continued to rise on Wednesday as the U.S. Department of Agriculture reported soybean sales to China for the third consecutive day and the market showed signs of offsetting short positions, traders said.
CBOT soybeans fell sharply on Thursday as a major crop tour reported high soybean pod counts while expectations for a bumper U.S. soybean harvest were tempered, analysts said.
Source: thitruonghanghoa.com
