CORN
CBOT Corn prices fell on Monday session due to expectations of various grains being planted ahead of the USDA’s acreage data release at the end of the week. Analysts surveyed by Reuters forecasted 90.353 million acres of corn planted, up from the March estimate of 90.036 million acres.
Closing on Tuesday, CBOT Corn prices dropped to unprecedented lows as traders assessed the impact of heatwaves and floods in the U.S. Midwest, with crop ratings remaining high for this time of the year.
CBOT Corn prices continued to decline on Wednesday as industry investors monitored U.S. Corn Belt weather conditions and made predictions ahead of the USDA’s planted acreage report.
Closing on Thursday, CBOT Corn prices continued to decrease as industry investors monitored U.S. Corn Belt weather conditions and positioned themselves ahead of the USDA’s acreage report.
The USDA reported U.S. old-crop corn export sales of 542,200 tons for the week, within analysts’ estimates of 400,000 to 1.1 million tons.
WHEAT
CBOT wheat prices fell on Monday due to expectations of favorable progress in the U.S. winter wheat crop ahead of USDA crop progress and condition data to be released on Monday afternoon.
CBOT wheat prices reached a 15-week low on Tuesday due to favorable progress in the U.S. winter wheat crop and higher yields in Russia and the Black Sea, where weather conditions were stable.
Closing on Wednesday, CBOT wheat prices remained unchanged ahead of the USDA’s planted acreage report, after reaching their lowest level in 15 weeks the previous day.
CBOT wheat prices turned higher on Thursday due to lower-than-expected crop planting in Canada and high export demand.
The USDA reported net U.S. wheat export sales for the week ending June 20 totaling 667,200 tons for 2024/25, higher than trade estimates of 200,000 to 600,000 tons.
SOYBEAN
CBOT soybean prices rose on Monday following a weekend storm in the Upper Midwest that caused localized flooding, posing a threat to the crop. The weekend storm-induced localized flooding has affected crop areas in soybean-growing regions in the U.S. Midwest.
CBOT soybean prices fell on Tuesday as traders weighed the impact of heatwaves and floods in the U.S. Midwest.
Closing on Wednesday, CBOT soybean prices declined as traders assessed the impact of heatwaves and floods in the U.S. Midwest and positioned themselves ahead of the USDA’s acreage report.
Closing on Thursday, CBOT soybean prices fell due to low demand and positioning ahead of the USDA’s acreage report.
The USDA reported U.S. old-crop soybean export sales of 282,900 tons for the week, below analysts’ estimates of 300,000 to 600,000 tons.
Source: thitruonghanghoa.com
SHORT NEWS
GROWMARK is the new owner of a grain warehouse in Chicago.
CHICAGO, ILLINOIS, USA – GROWMARK Inc. is now the sole owner of a grain warehouse in Chicago with 11.5 million bushels in storage, renamed Lakeside Grain Trading, after completing the acquisition from COFCO International on June 27.
Source: world-grain.com
