Latest news with #CommodityWeatherGroup
Business Recorder
01-08-2025
- Business
- Business Recorder
Wheat down 3-5 cents, corn steady-down 1, soybeans mixed
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading on Friday. Wheat - Down 3 to 5 cents per bushel Wheat futures fell, pressured by ongoing winter harvests in the United States and across the globe. In Argentina, a major wheat exporter, recent rainfall improved soil moisture reserves for the country's 2025/26 wheat crop, with nearly all of the planted area in normal to optimal condition, the Buenos Aires Grains Exchange said on Thursday. Grain consultancy Sovecon said on Friday that it has downgraded its forecast for Russia's wheat crop in 2025 to 83.3 million metric tons (mmt) from the previous estimate of 83.6 mmt, due to weaker-than-expected yields in the key southern region. CBOT September soft red winter wheat was last down 4-1/2 cents at $5.18-3/4 per bushel. K.C. September hard red winter wheat was last down 3-3/4 cents at $5.22-1/2 per bushel. Minneapolis September wheat was last down 2-1/4 cents at $5.75-1/2 a bushel. Wheat down 1-3 cents, corn down 1-2, soybeans down 1-2 Corn - Steady to down 1 cent per bushel Corn futures were slightly lower, weighed on by favorable weather in the U.S. Midwest corn belt, but lower prices brought some buying interest. The U.S. Department of Agriculture confirmed private sales of 100,000 metric tons of U.S. corn to Colombia, 140,000 tons to South Korea, and 136,000 tons to undisclosed destinations. Milder temperatures and periodic showers into early August are expected to benefit Midwest corn, according to Commodity Weather Group. CBOT December corn fell 1/4 cent at $4.13-1/2 per bushel. Soybeans - Up 1 to down 2 cents per bushel Soybean futures were mixed as abundant global supplies and favorable Midwest weather added pressure, but the U.S. signaled optimism about a trade deal with China. China, the world's biggest soy buyer, faces an August 12 deadline to reach a durable tariff agreement with U.S. President Donald Trump's administration. The United States believes it has the makings of a trade deal, but it is 'not 100% done,' Treasury Secretary Scott Bessent said on Thursday. Cooler temperatures and occasional showers in the U.S. Midwest are expected to favor the nation's soy crop through early August, according to Commodity Weather Group. A Chinese buyer has signed a deal this week to import 30,000 metric tons of Argentine soymeal, as feed producers move to lock in cheaper supplies from South America, two trade sources told Reuters on Friday. CBOT November soybeans were last down 1-1/2 cents at $9.87-3/4 per bushel.
Business Recorder
31-07-2025
- Business
- Business Recorder
Wheat down 1-3 cents, corn down 1-2, soybeans down 1-2
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading on Thursday. Wheat - Down 1 to 3 cents per bushel Wheat futures pared losses as wheat crop forecasts in Ukraine and the European Union fell. Ukraine's 2025 grain harvest is likely to fall to 51-52 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. The European Commission trimmed its forecast for usable production of both soft wheat and maize (corn) in the European Union in 2025/26. CBOT September soft red winter wheat was last down 1-1/2 cents at $5.22-1/4 per bushel. K.C. September hard red winter wheat was last up 1-1/2 cents at $5.23-1/2 per bushel. Minneapolis September wheat was last down 1-1/4 cents at $5.76 a bushel. Wheat down 4-5 cents, corn down 2-3, soybeans down 6-7 Corn - Down 1 to 2 cents per bushel Corn futures ticked down, pressured by ongoing favorable weather in the U.S. Midwest corn belt but supported by technical buying and demand. On Thursday, the U.S. Department of Agriculture is expected to report weekly U.S. corn export sales of 200,000 to 800,000 metric tons for 2024-25 and of 600,000 to 1.6 million metric tons for 2025-26, analysts said. Demand from Asia has been brisk as corn prices have been weak. Milder temperatures and periodic showers into early August are expected to benefit Midwest corn, according to Commodity Weather Group. CBOT December corn fell 1-3/4 at $4.10-1/2 per bushel. Soybeans - Down 1 to 2 cents per bushel Soybean futures fell on beneficial weather in the U.S. Midwest, abundant global supplies and sluggish Chinese demand. In top soy buyer China, demand for soybeans is expected to remain subdued during the peak U.S. marketing season later this year. Cooler temperatures and occasional showers in the U.S. Midwest are expected to favor the nation's soy crop through early August, according to Commodity Weather Group. CBOT November soybeans were last down 1-1/2 cents at $9.94-1/4 per bushel.
Business Recorder
28-07-2025
- Business
- Business Recorder
Wheat down 4-5 cents, corn down 2-3, soybeans down 6-7
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading on Monday. Wheat - Down 4 to 5 cents per bushel Wheat futures fell on expectations of ample global supplies and light demand. A group of South Korean flour mills bought an estimated 50,000 metric tons of milling wheat to be sourced from Canada in an international tender on Friday, European traders said on Monday. Russian wheat export prices continued to rise last week even as dry weather in the south of the country raised concerns about the harvest, while new wheat deliveries to ports were still picking up pace, analysts said. European governments and companies reacted with both relief and concern on Monday to the framework trade deal struck with U.S. President Donald Trump, acknowledging what was seen as an unbalanced deal but one that avoided a deeper trade war. CBOT September soft red winter wheat was last down 4-1/2 cents at $5.33-3/4 per bushel. K.C. September hard red winter wheat was last down 2-3/4 cents at $5.23-3/4 per bushel. Minneapolis September wheat was last down 1-1/4 cents at $5.83-1/2 a bushel. Wheat down 1-2 cents, corn steady-up 1, soy up 5-6 Corn - Down 2 to 3 cents per bushel Corn futures fell, pressured by forecasts for beneficial rains in the coming days and milder nighttime temperatures as August begins. Farmers in Brazil's center-south had harvested 68% of their 2025 second corn crop as of last Thursday, agribusiness consultancy AgRural said on Monday, up 13 percentage points from the previous week but below the 91% reported a year earlier. After heat at the beginning of the week, milder temperatures and some rainfall is expected to aid crops, according to Commodity Weather Group. CBOT December corn was last down 2 cents at $4.17 per bushel. Soybeans - Down 6 to 7 cents per bushel Soybean futures dropped with abundant global supplies, sluggish demand and benign crop weather across the U.S. Midwest. Heat in the Midwest is expected to ease midweek, with showers aiding the soy crop, according to Commodity Weather Group. CBOT November soybeans were last down 6-1/4 cents at $10.14-3/4 per bushel.
Zawya
22-07-2025
- Business
- Zawya
Corn, soy futures extend dip on crop-friendly weather forecasts
CANBERRA/PARIS - Chicago corn and soybean futures extended previous session losses on Tuesday, pressured by forecasts for crop-friendly rain in U.S. grain belts this week. Wheat also weakened on expectations of plentiful global supplies. The most active corn contract on the Chicago Board of Trade (CBOT) was down 1% at $4.18 a bushel by 1107 GMT, while soybeans fell 0.3% to $10.22-1/2 a bushel. Traders had been concerned that high temperatures in the U.S. Midwest would damage yields, but after a brief burst of heat mid-week, showers are expected to limit stress to crops, said Commodity Weather Group. The USDA on Monday rated 74% of the U.S. corn crop and 68% of U.S. soybeans in good-to-excellent condition, the highest assessment for corn at this time of year since 2016. The corn rating was unchanged from the previous week, but soybeans were down from 70% and below the average analyst estimate. Both markets are well supplied, and agribusiness consultancy AgRural on Monday increased its estimate for Brazil's total 2024/25 corn production to 136.3 million tons from 130.6 million tons. Wheat was down 0.3% at $5.40-3/4 a bushel. The first new-crop wheat from Russia, the world's biggest wheat exporter, has arrived on the market, traders and analysts said on Monday, as top producing regions reported early harvesting results. Agriculture Minister Oksana Lut told a government meeting on Tuesday the government had trimmed its forecasts for the 2025 wheat harvest, but the harvest was still expected to be large, at 88-90 million metric tons. In Europe, crop monitoring service MARS on Monday raised its forecasts for average winter grain yields in the European Union to above-average levels, but expressed concern for summer crops due to hot weather. Prices at 1107 GMT Last Change Pct Move CBOT wheat 540.75 -1.50 -0.28 CBOT corn 418.00 -4.25 -1.01 CBOT soy 1022.50 -3.50 -0.34 Paris wheat 200.50 -1.50 -0.74 Paris maize 55.57 -0.50 -0.89 Paris rapeseed 470.50 0.00 0.00 Euro/dlr 1.17 0.00 0.06 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne
Business Recorder
10-07-2025
- 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.
