• IKAR in Mass Media

 

 → IKAR in Mass Media → #3034

IKAR in Mass Media

CBOT Trends-Corn up 19-25 cents, soy up 24-26 cents, wheat up 20-22 cents

03 июня 2021 года

CHICAGO, June 1 (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 Tuesday.

WHEAT - Up 20 to 22 cents per bushel

* Wheat seen following corn and soybeans higher on worries about stressful warm and dry weather expected through mid-June in the U.S. Midwest as well as the northern Plains spring wheat belt.

* Russian agriculture consultancy Sovecon said it expects Russian wheat exports to decline to 36.6 million tonnes in the 2021/22 marketing season, which starts on July 1, from 37.7 million tonnes in the current season.

* Russian agriculture consultancy IKAR said on Monday it had raised its forecast for Russia's 2021 wheat crop by 500,000 tonnes to 79.5 million tonnes.

* The supplement to the U.S. Commodity Futures Trading Commission's weekly commitments report showed large speculators widened their net short position in CBOT wheat by 11,594 contracts in the week to May 25, to 38,316 lots.

* For K.C. hard red winter wheat, the CFTC's supplemental report showed large speculators pared their net long position by 965 lots, to 8,379 contracts.

* CBOT July soft red winter wheat was last up 21-3/4 cents at $6.85-1/4 per bushel; K.C. July hard red winter wheat was last up 21-1/2 cents at $6.34-3/4 a bushel and MGEX July spring wheat was last up 41-1/2 cents at $7.69 a bushel.

CORN - Up 19 to 25 cents per bushel

* Corn futures head higher on worrisome forecasts for warm and dry weather in the U.S. Midwest through mid-June. Traders await the U.S. Department of Agriculture's first condition ratings for the 2021 corn crop, due later on Tuesday in the government's weekly crop progress report.

* Strength in crude oil and a softer dollar add to bullish sentiment in commodities.

* The supplement to the CFTC's weekly commitments report showed large speculators cut their net long position in CBOT corn futures by 26,514 contracts in the week to May 25, to 232,893 lots, the smallest net long since October 2020.

* CBOT July corn was last up 19 cents at $6.75-3/4 per bushel.

SOYBEANS - Up 24 to 26 cents per bushel

* Soybeans seen following corn higher on forecasts for warm and dry weather in the U.S. Midwest and a rally in crude oil that may raise prospects of rising demand for soy-based biofuel.

* Ahead of the USDA's monthly fats and oils report due later on Tuesday, analysts surveyed by Reuters on average expected the government to report the U.S. April soybean crush at 171.1 million bushels. Estimates ranged from 170.0 million bushels to 173.0 million bushels.

* The supplement to the CFTC's weekly commitments report showed large speculators cut their net long position in CBOT soybeans by 12,821 contracts in the week to May 25, to 87,438 lots.

* CBOT July soybeans were last up 24-1/4 cents at $15.54-3/4 per bushel.

Source: Reuters  |  #grain   |  Comments: 0   Views: 2

There are no comments yet. Be the first!

Only authorized users can comment.