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IKAR in Mass Media

CBOT TRENDS-Soy up 5-8 cents, corn down 3-4 cents, wheat down 11-12 cents

09 января 2023 года

CHICAGO, Jan 4 (Reuters) - Following are U.S. trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.

WHEAT - Down 11 to 12 cents per bushel

* Wheat futures step back overnight as analysts watch Black Sea export activity, while U.S. exports lag.

* Russia's January wheat exports, 3.6 million to 3.8 million tonnes, will remain high for this time of the July-June marketing season after a huge 2022 grain crop, the IKAR agriculture consultancy said in a note. Sovecon, another consultancy, saw January wheat exports at 3.6 million to 4.0 million tonnes.

* Ukraine's efforts to increase exports under the Black Sea grain deal with Russia are currently focused on securing faster inspections of ships rather than including more ports in the initiative, a senior Ukrainian official said.

* U.S. exporters readied 85,672 tonnes of wheat for inspection during the week ended Dec. 29, the U.S. Department of Agriculture said, below an average of analyst predictions ranging from 250,000 to 450,000 tonnes in a Reuters poll of analysts.

* CBOT March soft red winter wheat last traded down 8 cents at $7.67-1/2 a bushel.

* K.C. March hard red winter wheat trimmed 10-1/4 cents to $8.59 a bushel, while MGEX March spring wheat lost 4-3/4 cents to $9.14-1/2 a bushel.

CORN - Down 3 to 4 cents per bushel

* Corn eases, pressured by weaker crude oil as fears of spreading COVID-19 infections in China could dampen the country's economy.

* U.S. exporters readied 667,010 tonnes of corn for inspection during the week ended Dec. 29, the USDA said, near the low end of average analyst estimates ranging from 650,000 to 900,000 tonnes.

* Ethanol producers used 447.4 million bushels of corn for fuel alcohol in November, the USDA said, down from 466.9 million the same month a year ago. 1.778 million tonnes of dried distillers grains (DDGS) were produced in November, down from 1.997 million a year prior.

* Brazil's 2022/2023 corn crop could reach 128.71 million tonnes, according to STONEX, up from 130.3 million tonnes in its previous forecast.

* CBOT March corn eased 3-1/2 cents overnight to $6.67 a bushel.

SOYBEANS - Up 5 to 8 cents per bushel

* Soybeans firmer overnight, supported by strong crush margins and meal demand, analysts said.

* U.S. exporters sold 124,000 tonnes of soybeans for delivery to unknown destinations during the 2022/2023 marketing year, the USDA said.

* During the week ended Dec. 29, U.S. exporters readied 1.46 million tonnes of soybeans for inspection, the USDA said, below average analyst estimates ranging from 1.5 million to 1.865 million tonnes.

* Soy crushers processed 189 million bushels of U.S. soybeans in November, below analyst expectations of 190.2 million bushels.

* Brazil's 2022/2023 soybean crop could reach 153.8 million tonnes, according to STONEX, down from 155 million tonnes in its previous forecast.

* CBOT March soybeans last traded up 7-1/4 cents at$14.99-1/2 a bushel.

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

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