Chicago soybeans and corn steady on favourable weather; wheat edges higher
Corn futures were unchanged at $4.12-1/4 per bushel, pressured by favourable Midwest weather that is boosting expectations of a strong U.S. harvest. Harvesting has already begun on the far southern fringes of the crop belt, including Texas and Louisiana, weekly U.S. data showed. Wheat gained 0.1% to $5.24-1/2 a bushel after rising for two consecutive session, supported by concern over the European harvest. Ukraine's 2025 grain harvest, however, is likely to fall to between 51 million and 52 million metric tons, from about 55 million tons in 2024, mostly owing to poor weather, the deputy head of Ukraine's largest farm union said on Thursday.
UAC's Denys Marchuk said the harvest could include 21 million tons of wheat, down from 22 million tons harvested in 2024. Meanwhile the European Commission trimmed its forecast for usable production of both soft wheat and maize (corn) in the European Union in 2025/26. Traders are awaiting weekly U.S. grain and soybean export sales data from the U.S. Department of Agriculture later on Thursday.
The agency is also expected to raise its U.S. corn yield estimate in a monthly crop report due on August 12. Prices at 1040 GMT Last Change Pct Move CBOT wheat 524.50 0.75 0.14 CBOT corn 412.25 0.00 0.00 CBOT soy 995.25 -0.50 -0.05 Paris wheat 199.00 0.75 0.38 Paris maize 56.35 -0.15 -0.27 Paris rapeseed 465.00 0.00 0.00 Euro/dlr 1.14 0.00 0.18 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
44 minutes ago
- Khaleej Times
Cruises cheaper than flights? Why UAE residents are opting for sea travel
Cruise holidays are becoming popular with UAE travellers over this summer and beyond. While some chose unique experiences, others opt for ultra-luxurious, all-inclusive packages, which allow them to have a more intimate holiday. 'During the summer, we are seeing many families from the UAE and GCC region opting for cruise holidays, mostly in Europe, Far East and Caribbean,' said Mohamed Kasim from Akbar Travels. 'Most of the people from the region opt for cruises lasting between seven and ten days and it is almost always booked by families, not people who are single.' He said that vessels that offer distinct entertainment options are more popular than others. 'Cruises like Icon of the Seas and Utopia of the Seas of Royal Caribbean have been extremely popular this season,' he said. The former cruise boasts of one of the largest waterparks at sea while the latter tends to be a more budget-friendly option. A spokesperson for Celestyal cruises, which homeported out of Abu Dhabi and Doha for the first time from December 2024 to March this year said that the demand had far exceeded their expectation from the region. 'We had set an occupancy target of 60 per cent,' said Janet Parton, regional Vice President of Business Development at the company. 'However, we were completely full on the majority of our cruises. So the response has been phenomenal and we are already getting bookings for our next season.' She added that however, the GCC region were a 'late booking' market, with many choosing to book at the last minute Luxury cruises Among cruise holidays, the luxury cruises vertical is one that is seeing an increase in demand. According to Lakshmi Durai, CEO of CruiseXplore, there are several reasons why people prefer luxury cruises. 'People travel a lot, and they are always looking for something unique and different,' she said. 'Luxury cruises have smaller ships which allow them to visit destinations that larger cruise ships may not be able to navigate. They are very boutique and the travellers are pampered. There are some cruises that offer very unique experience.' In this year's State of the Cruise Industry report by Cruise Lines International Association, the luxury cruise travel market has tripled globally since 2010. Saleh Mohamed from Elevate Cruises explained why people prefer luxury cruises. 'They come in smaller sizes with lesser number of people and all amenities inclusive,' he said. 'Last year, we handled the Tauck cruise which was like a small yacht of 160 passengers but with a crew of almost 200 people to give personalised care for passengers. There were about 15 travel experts to accompany people during their excursions. So luxury cruise liners do out-of-the-box, unique experiences with an incredible level of service.' Earlier this year, Saud Hareb Almheiri, Cruise Tourism & Yachting Lead, Dubai Department of Economy, and Tourism (DET) told Khaleej Times during the Arabian Travel Mart that luxury cruises were 'a growing trend' both globally and locally. 'People are realising that if they go on a luxury cruise, it gives them a way to experience unique onshore excursions or different ports,' he said. 'On a normal cruise ship, there are sometimes more than 6,000 guests which means that people have to queue up to use the amenities. On luxury cruises, people wouldn't have to wait in queues.' Value for money According to Saud, value for money has been the 'foundation' of cruising. 'People are able to visit so many destinations within a short period of time without having to get on a plane and without having to unpack and pack multiple times,' he said. 'People will pay a premium for just that experience.' Lakshmi added that cruises are more affordable as compared to land holidays. 'The cruise package has a lot of inclusions,' she said. 'WiFi, all meals, entertainment on board, unique destinations and more. If you break it down to a per night rate, a similar land vacation will cost much more than a cruise. That is one of the reasons why it is becoming more popular.' Experiential cruises One cruise that has seen a lot of interest from the region is the Hurtigruten experiential cruise in Norway — a 130-year-old delivery service that used to get produce and post to the north of the country. Hurtigruten was converted into a cruise experience and has become popular for the experience it offers. 'We have small ships accommodating up to 500 people that run along the coast of Norway throughout the year,' said Carla Hines. 'We work with local suppliers, pick up fresh fish and vegetables from certain ports and engage with the local community. The food on the cruise is completely Norwegian and freshly cooked and the waste on the ship is composted. We are very sustainable. Depending on the season, we have different activities like hustle sledging, kayaking and hiking.' Lakshmi added that other popular experience cruises included cruises to the Arctic circle and Antartica. 'Some of these are ice breaker cruises that sail into poles,' she said. 'Roughly about 100 people are on these cruises, and they have expedition experts on the ship who take the guests out into the poles to explore.' Saleh added that the newly launched Aroya Cruise from Saudi Arabia was also gaining popularity. With halal food, prayer rooms and shisha decks, he explained that the cruise targeted a wide Muslim audience.
Zawya
12 hours ago
- Zawya
Spotify to raise premium subscription price in select markets from September
Spotify said on Monday it would increase monthly price of its premium individual subscription in select markets from September, as the Swedish streaming giant looks to improve margins. The company's shares jumped nearly 8%. They have gained about 40% so far this year. The subscription price will rise to 11.99 euros ($13.86) per month from 10.99 euros in markets including South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region. Spotify said subscribers will receive an email explaining the price rise over the next month. Price increases in the past, combined with cost-cutting efforts in recent years, have helped it to achieve its first annual profit for 2024. The company saw an increase in monthly active users and premium subscribers during the second quarter, while higher taxes related to employee salaries led it to post a loss during the period and weighed on its third-quarter profit forecast. Spotify has been expanding its library of video content to attract subscribers, including through its partner program, which is designed to help podcast creators by offering them monetization options. A growing number of creators are joining the Spotify Partner Program, resulting in a significant increase in video content on the platform, CEO Daniel Ek had earlier told Reuters. The streaming company is also benefiting from Apple's approval of its U.S. app update to show subscription prices and external payment links, after a judge barred the iPhone maker from charging commission on off-app purchases. Ek said this change has led to "a very positive uptick" in the U.S. If similar rules are adopted in Europe and the UK, it would benefit both Spotify and other app developers. ($1 = 0.8650 euros) (Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)
Khaleej Times
13 hours ago
- Khaleej Times
Spotify to hike premium subscription price in the Middle East, other markets
Spotify said on Monday it would increase the monthly price of its premium individual subscription in select markets from September, as the Swedish streaming giant looks to improve margins. Spotify's shares rose more than 5% in premarket trading. They have gained about 40% so far this year. The company said subscribers will receive an email explaining the price increase over the next month. Price increases in the past, combined with cost-cutting efforts in recent years, have helped Spotify achieve its first annual profit for 2024. But the company forecast its third-quarter profit below analysts' estimates last month, as higher taxes related to employee salaries outweighed music streaming demand. It saw an increase in monthly active users and premium subscribers during the second quarter. The subscription price will rise to 11.99 euros ($13.86) per month from 10.99 euros in markets including South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region. Spotify is also benefiting from Apple's approval of the Swedish company's US app update to show subscription prices and external payment links, after a judge barred the iPhone maker from charging commission on off-app purchases. The audio streaming company's CEO Daniel Ek said this change has led to "a very positive uptick" in the US He also said that if similar rules are adopted in Europe and the UK, it would benefit both Spotify and other app developers. Spotify has been expanding its library of video content to attract subscribers, including through its partner programme, which is designed to help podcast creators by offering them monetisation options. A growing number of creators are joining the Spotify Partner Programme, resulting in a significant increase in video content on our platform, Ek had earlier said.
