Latest news with #UkrainianNationalAcademyofAgrarianSciences
Business Recorder
11 hours ago
- Business
- Business Recorder
Wheat steady-up 2 cents, corn up 4-5, soy up 7-11
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 2 cents per bushel CBOT wheat climbed after losses on bargain buying and positioning ahead of the U.S. Fourth of July holiday weekend. Abundant supplies are hanging over the wheat market, with U.S. farmers progressing with their harvests, while crops in Europe and the Black Sea region are expected to be sizeable despite harsh weather. Dry weather in southern Ukraine during sowing and plant growth stages has significantly reduced winter wheat and barley yields, scientists at the Ukrainian National Academy of Agrarian Sciences said on Wednesday. CBOT September soft red winter wheat was last up 1/4 cent to $5.64-3/4 per bushel. K.C. September hard red winter wheat was last up 3-3/4 cents to $5.46 per bushel. Wheat and corn down 2-3 cents, soy up 7-9 Corn - Up 4 to 5 cents per bushel CBOT corn recovered from the week's earlier lows on bargain buying. A mix of showers and warm, mild weather is set to continue in the U.S. Midwest corn belt, with traders currently seeing limited threats to the crop as it approaches the crucial pollination stage. CBOT December corn was up 6-1/2 cents to $4.40 per bushel. Soybeans - Up 7 to 11 cents per bushel CBOT soybeans shrugged off pressure from ample supplies ahead of the Fourth of July holiday weekend with bargain buying and strengthening soyoil futures. Soyoil futures were supported by a tax-cut and spending bill adopted by the U.S. Senate included a measure to restrict biofuel credits to North American feedstock. CBOT November soybeans were last up 8-3/4 cents to $10.56-3/4 per bushel.
Business Recorder
19 hours ago
- Business
- Business Recorder
Corn climbs to 2-week high; soybeans, wheat firm
SINGAPORE: Chicago corn climbed to a more than two-week high on Thursday, with bargain-buying supporting prices after recent losses, while soybeans eased, paring some of last session's gains. Wheat slid on harvest pressure and positioning ahead of the US Independence Day holiday weekend. Markets will be closed on Friday. 'US weather is pretty normal for corn and we have (a) big supply coming from Brazil,' said one broker of agricultural commodities. 'Prices are going to remain under pressure but a lot of news on the supply front has already been factored into the market and there is likely to be some buying interest at these levels.' The most-active corn contract on the Chicago Board of Trade (CBOT) rose 0.9% to $4.37-1/4 a bushel as of 0307 GMT, after hitting its highest since June 16 earlier in the session. Soybeans fell 0.1% to $10.47-1/4 a bushel and wheat lost 0.1% to 5.63-1/4 a bushel. Largely favourable crop development weather had dragged corn and soybean prices to multi-month lows in recent sessions as warm temperatures and timely rains boosted US harvest prospects. The optimal conditions coincide with harvesting by rival exporter Brazil of what some analysts expect to be a record second-corn crop. Corn stuck near lows on supply pressure Abundant supplies are hanging over the wheat market, with US farmers progressing with their harvests, while crops in Europe and the Black Sea region are expected to be sizeable despite harsh weather, including a heatwave in western Europe this week. Dry weather in southern Ukraine during sowing and plant growth stages has significantly reduced winter wheat and barley yields, scientists at the Ukrainian National Academy of Agrarian Sciences said on Wednesday. Commodity funds were net buyers of CBOT corn, wheat, soybean and soyoil futures contracts on Wednesday and net sellers of soymeal, traders said.
