Latest news with #DonatasJankauskas
Zawya
28-05-2025
- Business
- Zawya
Wheat rebounds on lower-than-expected US crop ratings
CANBERRA/PARIS - Chicago wheat rose on Wednesday after U.S. crop ratings came in below market expectations, though prices remained within sight of a five-year low amid broadly favourable harvest prospects in the northern hemisphere and sluggish international demand. Corn futures also rose, similarly drawing support from a lower than expected U.S. crop conditions score. Soybeans edged lower. The most active wheat contract on the Chicago Board of Trade (CBOT) was up 1.0% at $5.34 a bushel by 1018 GMT. After a short-covering rally lifted wheat from a near five-year low of $5.06-1/4 earlier this month, actual or forecast rain in the U.S. Plains, northern Europe and China have underlined expectations for plentiful supply, fuelling a 2.6% slide in Chicago prices on Tuesday. But U.S. Department of Agriculture data released after the market close on Tuesday rekindled some doubts about crop conditions. The USDA's weekly report showed only 45% of U.S. spring wheat in good to excellent condition, below the lowest in a range of analyst expectations. For winter wheat, the agency rated 50% of the U.S. crop as good to excellent, down 2 points from a week earlier and beneath the average analyst forecast, though still the highest rating for this time of year since 2020. "This is the key reason wheat prices are trying to bounce this morning," CM Navigator analyst Donatas Jankauskas said of the USDA crop ratings. But global wheat demand is low and the risk to crop production will reduce further as northern hemisphere harvests ramp up, said Rod Baker, an analyst at Australian Crop Forecasters in Perth. "Hefty short positions mean there's still time for a rally," he said. "But each day that goes by it gets less likely." Commodity funds hold a large net short position in CBOT wheat and were net sellers on Tuesday, traders said. CBOT soybeans were down 0.1% at $10.61-1/2 a bushel and corn added 0.5% to $4.62 a bushel. Corn and soybeans are under pressure from expectations of a large crop in Brazil, with agribusiness consultancy Datagro this week increasing its forecasts for the country's 2024/2025 crops. But the USDA surprised traders by rating 68% of the U.S. corn crop as good to excellent in its first condition ratings for the 2025 season, well below the average estimate of 73% in a Reuters analyst poll. Prices at 1018 GMT Last Change Pct Move CBOT wheat 534.00 5.50 1.04 CBOT corn 462.00 2.50 0.54 CBOT soy 1061.50 -1.00 -0.09 Paris wheat 203.25 2.00 0.99 Paris maize 198.00 0.00 0.00 Paris rapeseed 487.00 0.50 0.10 WTI crude oil 61.41 0.52 0.85 Euro/dlr 1.13 0.00 0.07 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton.
Zawya
07-05-2025
- Business
- Zawya
Chicago soy, corn and wheat higher on China-US trade optimism
BEIJING/PARIS: Chicago soybean and grain futures rose on Wednesday as news of a planned meeting between senior U.S. and Chinese officials boosted hopes for easing trade tensions between the world's two largest economies. A weaker dollar and steady crude oil prices also helped underpin the grain markets, while investors awaited further direction from a U.S. Federal Reserve policy decision later on Wednesday. The most-active soybean contract on the Chicago Board of Trade (CBOT) gained 1.1% to $10.53 a bushel, recovering from a 2-1/2 week low on Tuesday. The soybean market has been particularly sensitive to the Sino-U.S. tariff battle, given China dominates global soybean imports, including a large portion of shipments from the United States, the world's second-largest exporter of the oilseed. "Markets are higher across the board this morning, led by soybeans, following news that Chinese and U.S. officials will meet this week," CM Navigator analyst Donatas Jankauskas said in a note. The planned meeting, which comes after the recent absence of clear steps towards de-escalating the tariff stand-off, also supported corn and wheat prices that have been pressured by improving crop weather in the United States. CBOT corn rose 1.5% to $4.62-1/2 a bushel to move further away from a one-month low touched on Tuesday. CBOT wheat added 1.3% to $5.43 a bushel. The wheat market has also drawn support from dryness concerns in Henan, a major wheat-producing province in China. Reduced output there could spur more Chinese demand for wheat imports. Prices at 1117 GMT Last Change Pct Move CBOT wheat 543.00 7.00 1.31 CBOT corn 462.50 7.00 1.54 CBOT soy 1053.00 11.75 1.13 Paris wheat 206.25 0.75 0.36 Paris maize 196.75 1.50 0.77 Paris rapeseed 476.00 2.00 0.42 WTI crude oil 59.61 0.52 0.88 Euro/dlr 1.14 0.00 0.00 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton
Business Recorder
25-04-2025
- Business
- Business Recorder
Soybeans extend gains on signs of US-China tariff de-escalation
PARIS/SINGAPORE: Chicago soybeans rose for a fifth session on Friday, reaching their highest level since early-February, as news that China has exempted some U.S. goods from its tariffs bolstered expectations of a de-escalation in trade tensions. Corn and wheat also rose, recovering from two-week lows linked to improving crop weather. The most-active soybean contract on the Chicago Board of Trade were up 0.4% at $10.66 a bushel at 1043 GMT, after earlier touching its highest since February 5 at $10.67-1/2. 'Potential progress on a U.S.-China trade deal remains a key focus,' CM Navigator analyst Donatas Jankauskas said. China, the world's biggest soybean importer, exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified. U.S. President Donald Trump, meanwhile, said in an interview with Time magazine published on Friday that Chinese counterpart Xi Jinping had called him and that their governments were in active trade talks. Soybeans hit 2-month high on hopes of easing US-China trade woes U.S. soybeans have not been mentioned so far in Chinese tariff exemptions and China is currently in a period where it mainly buys freshly-harvested Brazilian soybeans. However, moves to defuse trade tensions are seen as positive for U.S. exports beyond this season. Sentiment in the U.S. soybean market has also been boosted by brisk demand from Europe and a report that Japan is considering an increase in soybean imports from the United States as part of tariff negotiations. Price gains for soybeans were nonetheless curbed by a recovery in the dollar and caution over the U.S.-China trade talks, which Beijing has denied. CBOT wheat added 0.8% to $5.48-3/4 a bushel, and CBOT corn rose 0.6% to $4.87 a bushel. Wheat prices remained pressured by tepid international demand and by rain that has brought relief to crops in dry parts of the U.S. Plains, northern Europe and southern Russia. The European Commission on Thursday cut slightly its production forecast for the European Union's main wheat crop in 2025/26, but increased its stocks outlook as it saw more supplies left over from this season than previously anticipated.
Zawya
25-04-2025
- Business
- Zawya
Soybeans extend gains on signs of US-China tariff de-escalation
Reuters: Chicago soybeans rose for a fifth session on Friday, reaching their highest level since early-February, as news that China has exempted some U.S. goods from its tariffs bolstered expectations of a de-escalation in trade tensions. Corn and wheat also rose, recovering from two-week lows linked to improving crop weather. The most-active soybean contract on the Chicago Board of Trade were up 0.4% at $10.66 a bushel at 1043 GMT, after earlier touching its highest since February 5 at $10.67-1/2. "Potential progress on a U.S.-China trade deal remains a key focus," CM Navigator analyst Donatas Jankauskas said. China, the world's biggest soybean importer, exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified. U.S. President Donald Trump, meanwhile, said in an interview with Time magazine published on Friday that Chinese counterpart Xi Jinping had called him and that their governments were in active trade talks. U.S. soybeans have not been mentioned so far in Chinese tariff exemptions and China is currently in a period where it mainly buys freshly-harvested Brazilian soybeans. However, moves to defuse trade tensions are seen as positive for U.S. exports beyond this season. Sentiment in the U.S. soybean market has also been boosted by brisk demand from Europe and a report that Japan is considering an increase in soybean imports from the United States as part of tariff negotiations. Price gains for soybeans were nonetheless curbed by a recovery in the dollar and caution over the U.S.-China trade talks, which Beijing has denied. CBOT wheat added 0.8% to $5.48-3/4 a bushel, and CBOT corn rose 0.6% to $4.87 a bushel. Wheat prices remained pressured by tepid international demand and by rain that has brought relief to crops in dry parts of the U.S. Plains, northern Europe and southern Russia. The European Commission on Thursday cut slightly its production forecast for the European Union's main wheat crop in 2025/26, but increased its stocks outlook as it saw more supplies left over from this season than previously anticipated. Prices at 1043 GMT Last Change Pct move CBOT wheat 548.75 4.25 0.78 CBOT corn 487.00 3.00 0.62 CBOT soy 1066.00 4.00 0.38 Paris wheat 211.75 2.25 1.07 Paris maize 204.50 1.75 0.86 Paris rapeseed 523.00 4.50 0.87 WTI crude oil 62.25 -0.54 -0.86 Euro/dlr 1.14 0.00 -0.31 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton
