Latest news with #Ammermann
Business Recorder
21-07-2025
- Business
- Business Recorder
Corn and soybeans fall as rain seen helping US crops, wheat firm
HAMBURG: Chicago corn and soybean futures fell on Monday on forecasts for crop-friendly rain in U.S. grain belts this week. Wheat was firm as slow farmer selling of Russia's new crop could transfer export sales to the United States. Chicago Board of Trade most active corn was down 0.3% to $4.26-1/4 a bushel at 1130 GMT. Soybeans were down 0.6% to $10.29-1/2 a bushel, while wheat was up 0.3% to $5.48-1/4 a bushel. All three contracts remain close to multi-month or multi-year lows due to ample supply. Chicago corn futures rose on Friday on worries that excessive heat may threaten developing U.S. crops, but more showers are forecast in U.S. grain belts this week. 'Corn and soybeans are being weakened by forecasts of rain in the U.S., which is helping remove some of the fear seen on Friday about possible heat stress to U.S. crops,' said Matt Ammermann, StoneX commodity risk manager. 'Temperatures in U.S. corn and soybean production regions are still forecast to be high, but the combination of heat and rain may create a 'greenhouse' impact with optimal growing conditions.' Soybeans edge lower as plentiful supply stifles gains 'The USDA (U.S. Department of Agriculture) report on U.S. crops later today is likely to be stable or show improvements in crop conditions.' Soybeans were also weakened as soyoil prices dipped from life-of-contract highs last week. Smaller than expected Russian exports, despite the arrival of the new crop, were underpinning wheat. 'Wheat is being supported by late arrival of the Russian new crop with farmer selling still smaller than expected,' Ammermann said. 'It is still unclear whether the slow selling is because farmers are cash-rich and can hold out for higher prices, or is it because there is concern about Russian new crop quality and yields?' 'Reduced Russian export flows open the possibility of a transfer of export business to U.S. wheat, which is looking cheap in export markets.'
Zawya
17-04-2025
- Business
- Zawya
Wheat up as U.S. rain assessed, corn and soybeans drift
Chicago wheat futures rose on Thursday, supported by concern about dryness in some U.S. wheat production regions despite some recent rain, while more wheat import demand was also seen. Soybeans and corn were mixed as dealers awaited news about possible trade talks between China and the United States, which could restart U.S. soybean exports to China. Chicago Board of Trade most-active wheat rose 0.6% to $5.64-3/4 a bushel at 1205 GMT. Corn fell 0.2% to $4.90-1/2 a bushel, soybeans fell 0.07% to $10.39-1/2 a bushel. There was a risk-off mood ahead of the long Easter weekend. "Wheat is being supported today as the market continues to assess rain in the U.S. grain belts," said Matt Ammermann, StoneX commodity risk manager. "The forecasted rains that were hoped for in U.S. hard red winter wheat production regions continues to be less and less. Rains are forecast but they keep shifting more eastward so the need for rains in dry hard red winter areas remains." "There are also signs of more wheat demand after a very quiet period, with a large purchase of around 600,000 (metric) tons by Algeria and Tunisia also in with a purchase tender today." China has imposed tariffs on the United States, which traders say will stop the traditionally huge U.S. soybean sales to China for the immediate future. But the impact of the trade war has already been factored into prices, turning market attention to other factors, analysts said. "Corn is slightly weaker, with news lacking to feed the bullish impetus today, as U.S. weather is non-threatening to crops and output of U.S. ethanol, partly produced from corn, is also weak," Ammermann said. "Soybeans are little changed as possible U.S.-China trade talks are awaited. There is also concern about the Trump administration's biofuel policy which could impact some biofuel plants in the U.S. Midwest." (Reporting by Michael Hogan in Hamburg, additional reporting by Peter Hobson in Canberra; Editing by Eileen Soreng and Leroy Leo)
