Latest news with #ChicagoBoardofTrade
Business Recorder
a day ago
- Business
- Business Recorder
Wheat steady-down 3 cents, corn down 2-3, soy steady-down 4
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Friday. Note: The U.S. Department of Agriculture is expected to release its monthly World Agricultural Supply and Demand Report at 11:00 a.m. CST. Wheat - Steady to down 3 cents per bushel CBOT wheat ticked down as the U.S. dollar gained strength and traders positioned prior to the release of the USDA's monthly supply and demand report. Ahead of the USDA's monthly supply-demand and crop production reports on Friday, analysts surveyed by Reuters on average expect the government to lower its estimate of U.S. 2025/26 wheat production. Only slight changes were seen for the USDA's forecasts of 2025/26 U.S. and global wheat ending stocks. European Union production of soft wheat, the bloc's main cereal crop, is expected to reach 123.4 million metric tons this year, a 9.6% increase from last year's poor harvest, farming association Copa Cogeca said on Friday. CBOT September soft red winter wheat was last down 3 cents to $5.51-1/2 per bushel. K.C. September hard red winter wheat was last down 5 cents to $5.29-3/4 per bushel. Minneapolis September wheat was last down 2-3/4 cents to $6.29 a bushel. Wheat steady-up 6 cents, corn steady-down 2, soy down 1-7 Corn - Down 2 to 3 cents per bushel CBOT corn eased on favorable crop conditions and a firming dollar ahead of the USDA's supply/demand report. A favorable mild, showery pattern is expected to aid corn pollination in the U.S. Midwest, according to forecaster Commodity Weather Group. Ahead of Friday's monthly USDA supply/demand reports, analysts surveyed by Reuters on average expected the government to lower its forecasts of U.S. corn inventories remaining at the end of the 2024/25 and 2025/26 marketing years. CBOT December corn was last down 2-1/4 cents to $4.14-1/4 per bushel. Soybeans - Steady to down 4 cents per bushel CBOT soybean futures Chicago dipped on favorable weather in the U.S. Midwest growing region as investors awaited the results of the USDA's monthly supply/demand report. Ahead of Friday's monthly USDA supply/demand reports, analysts surveyed by Reuters on average expected the government to raise its forecasts of U.S. soybean inventories remaining at the end of the 2024/25 and 2025/26 marketing years. Brazilian government crop supply agency Conab estimated the country's 2024/25 soybean harvest at 169.5 million tons, compared with its month-ago estimate of 169.60 million CBOT November soybeans were last down 3-1/4 cents to $10.10-1/2 per bushel.
Business Recorder
2 days ago
- Business
- Business Recorder
Corn, soybeans set for weekly declines on favourable US weather
SINGAPORE: Chicago corn and soybean futures edged higher on Friday but both markets were poised to end the week in negative territory, as near-ideal weather across the US Midwest raised expectations for robust supplies. Wheat prices inched higher for a second session, supported by lower export volumes from top supplier Russia. 'There is an oversupply of grains and oilseeds in the market and US monthly report later today is likely to reinforce that,' said a grains trader in Singapore, requesting anonymity. The US Department of Agriculture is due to issue its monthly crop estimates later on Friday. The most-active corn contract on the Chicago Board of Trade (CBOT) was up 0.1% at $4.16-3/4 a bushel, as of 0245 GMT, and soybeans added 0.2% to $10.15-1/4 a bushel. Wheat edged 0.1% higher to $5.54-3/4 a bushel. For the week, corn has lost 4.6%, the biggest weekly drop since late February. Soybeans have dropped 3.2%, giving up much of last week's gains while wheat has slid marginally. Favourable Midwest weather continues to hang over corn and soybean markets, fuelling expectations of bumper US harvests that would add to big crops in rival exporter Brazil. The Russian government on Thursday ordered measures to boost agriculture exports after international sales of wheat fell to their lowest since 2008, while traders are saying the new crop has been slow to come to the Black Sea terminals. The Sovecon consultancy estimates July wheat exports at 2 million-2.5 million tons, compared with 3.67 million tons in July 2024. Supply tensions could be short-lived, with the Russian harvest expected to accelerate in the coming days, according to traders. China's wheat output dipped 0.1% in 2025 from a year earlier, official data showed on Thursday, which is likely to limit the country's need to purchase grains from the international market. Commodity funds were net buyers of CBOT corn, soybean, soymeal, wheat and soyoil futures contracts on Thursday, traders said.
Business Recorder
3 days ago
- Business
- Business Recorder
Wheat steady-up 6 cents, corn steady-down 2, soy down 1-7
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Thursday. Wheat - Steady to up 6 cents per bushel CBOT wheat climbed as tight Russian supplies overcame pressure from an advancing harvest elsewhere, according to analysts. In Russia, the world's biggest wheat-exporting country, a slow start to harvesting and reluctant selling by farmers were forcing exporters to raise prices as they tried to secure supply to load vessels, according to traders. 6-10 day rains are set to provide a moisture boost for Northern Plains spring wheat after hot and dry short-term conditions, according to forecaster Commodity Weather Group. CBOT September soft red winter wheat was last up 5-1/2 cents to $5.52-1/2 per bushel. K.C. September hard red winter wheat was last up 8 cents to $5.32 per bushel. Minneapolis September wheat was last up 5-1/2 cents to $6.37 a bushel. Wheat steady-down 3 cents, corn mixed, soy steady-down 5 Corn - Steady to down 2 cents per bushel CBOT corn consolidated near multi-month lows as markets looked ahead to the U.S. Department of Agriculture's monthly supply and demand report, due out on Friday. Favorable weather in the U.S. Midwest continues to pressure corn futures and traders remain worried that U.S. tariff disputes with key trading partners may hurt demand for U.S. crops and exacerbate a glut in supply. Milder temperatures in the Midwest are expected to boost corn pollination, according to Commodity Weather Group. U.S. President Donald Trump's proposal on Wednesday of a 50% tariff on all imports from Brazil caused a slide in its currency, the real, which could have a bearish knock-on effect on grain markets by making Brazilian exports cheaper, traders said. CBOT December corn was last down 1-3/4 cents to $4.13-3/4 per bushel. Soybeans - Down 1-7 cents per bushel CBOT soybean futures Chicago fell to new multi-month lows on non-threatening weather in the U.S. Midwest and investor fears about about knock-on effects from Trump's announcement of a 50% tariff on goods from Brazil. Traders positioned ahead of the USDA's supply and demand report, due on Friday. The central and eastern Midwest will trend somewhat drier and cooler in the coming weeks, according to Commodity Weather Group. CBOT November soybeans were last down 1-3/4 cents to $10.05-1/2 per bushel.
Business Recorder
3 days ago
- Business
- Business Recorder
Corn, soybeans fall on US weather; wheat slips for fifth session
SINGAPORE: Chicago corn futures slid on Thursday, falling for three out of four sessions, while soybeans lost more ground as forecasts of crop-friendly weather in the US Midwest boosted prospects for both crops. Wheat slid for a fifth consecutive session on harvest pressure. 'For corn, we have bearish weather, which (is) limiting any upside we (have) seen in prices,' said one agricultural broker. 'Wheat is also under supply pressure, given the harvest progress.' The most-active corn contract on the Chicago Board of Trade (CBOT) fell 0.5% to $4.13-1/4 a bushel, as of 0159 GMT, and soybeans slid 0.1% to $10.06-3/4 a bushel. Wheat was down 0.9% at $5.42-1/4 a bushel. Favourable US crop weather continues to hang over grain futures, fuelling expectations for sizable corn and soybean harvests this autumn. The next 15 days will likely be the most critical period of development for the corn crop, and near-normal temperatures are expected in most areas of the Midwest, weather firm Vaisala said. For wheat, the ongoing harvest across key exporters in the Northern Hemisphere continues to pressure prices. Chicago soybeans hover near 11-week low despite modest rebound Grain traders remain worried that US tariff disputes with key trading partners may hurt demand for US crops and exacerbate a glut in supply. The US Department of Agriculture is slated to update monthly estimates for global grain supplies and demand on Friday. Commodity funds were net sellers of CBOT soybean, soyoil and wheat futures contracts on Wednesday, traders said. Funds were net buyers of corn futures and net even in soymeal, they said.
New Straits Times
3 days ago
- Business
- New Straits Times
Palm tracks Dalian palm oil lower
JAKARTA: Malaysian palm oil futures slipped on Thursday, snapping three sessions of gains, as weakness in Dalian palm oil and a strong ringgit weighed on the contract. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange lost RM15, or 0.36 per cent, to RM4,142 (US$975.74) a metric ton by 0239 GMT. Dalian's most-active soyoil contract barely changed, up 0.05 per cent, while its palm oil contract lost 0.35 per cent. Soyoil prices on the Chicago Board of Trade rose 0.9 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Oil prices dropped on Thursday as the latest tariff announcements by US President Donald Trump were perceived by market participants to threaten global economic growth and demand for the resource. Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, strengthened 0.07 per cent against the dollar, making the commodity more expensive for buyers holding foreign currencies. Asian stocks rose slightly on Thursday, riding on optimism from Nvidia's brief rise to a world-record US$4 trillion valuation and as investors largely shrugged off US President Donald Trump's latest tariff salvos.
