IKAR in Mass Media

CBOT trends - corn, wheat up 3-5 cents, soybeans up 6-8 cents

18 августа 2020 года

CHICAGO, Aug 17 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.

WHEAT - Up 3-5 cents

* Technical buying and short-covering support prices, although lackluster export demand limits gains, traders said.

* Agriculture consultancy IKAR raised its Russian 2020 wheat crop forecast due to high yields.

* CBOT September soft red winter wheat last traded up 5-1/4 cents at $5.05-1/4 per bushel.

* K.C. September hard red winter wheat was last up 4-1/4 cents at $4.29-1/2 a bushel. MGEX September spring wheat last traded 3-3/4 cents higher at $5.01-1/4 a bushel.

CORN - Up 3-5 cents

* CBOT December corn set its highest price since July 10 and last traded up 4 cents at $3.42 per bushel.

* Traders expect the U.S. Department of Agriculture to lower crop-condition ratings in a weekly report due at 3 p.m. CDT following a damaging Aug. 10 storm in Iowa.

* Iowa is seeking about $4 billion in disaster relief.

* Dry Midwest weather is also a concern, analysts said.

SOYBEANS - Up 6-8 cents

* CBOT November soybeans hit its highest price since July 9 and last traded up 8-1/4 cents at $9.07 per bushel.

* Traders are keeping a close eye on Chinese demand after a string of U.S. soybean sales to China.

* U.S. President Donald Trump said China is more than living up to the countries' Phase 1 trade deal, in which Beijing pledged to buy more American farm goods.

* The United States and China delayed a review of the trade deal that was initially slated for Saturday.

* The Trump administration said on Monday it will further tighten restrictions on Chinese telecommunications company Huawei Technologies Co.

* The National Oilseed Processors Association is scheduled to release a monthly report at 11 a.m. CDT (1600 GMT).

Source: Reuters | #grain | Comments: 0 Views: 17

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