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IKAR in Mass MediaGRAINS-Soybeans rise for second session on Brazilian crop woes12 декабря 2023 года SINGAPORE, Dec 12 (Reuters) - Chicago soybean futures gained more ground on Tuesday, with prices climbing to the highest since early December, as concerns over adverse weather conditions in top exporter Brazil underpinned the market. Corn prices also inched higher, while wheat eased. FUNDAMENTALS The most-active soybean contract on the Chicago Board of Trade (CBOT Sv1 was up 0.2% at $13.39 a bushel, as of 0114 GMT. The contract rose to the highest since Dec. 1 at $13.42 a bushel earlier in the session. Corn Cv1 gained 0.2% at $4.82-1/4 a bushel and wheat Wv1 lost 0.1% to $6.09 a bushel. Weather forecasts show northern half of Brazil may still not be getting enough rain to offset drought conditions, which have delayed planting and threatened crops. Brazil's 2023/24 soybean planting had reached 91% of the expected area, as of Thursday, agribusiness consultancy AgRural said on Monday, up 6 percentage points from the previous week. Sowing continues to lag behind last year's levels, when 95% of the areas had been planted at the same time, AgRural said in a statement. Soybeans were also supported by the U.S. Department of Agriculture confirming private sales of 132,000 metric tons of U.S. soybeans for delivery to unknown destinations in the 2023/24 marketing year that began Sept. 1. In the wheat market, export prices for Russian cargoes rose further last week as the situation with shipments from ports remained difficult due to adverse weather conditions, analysts say. The price of 12.5% protein Russian wheat scheduled for free-on-board (FOB) delivery in January was $241 per metric ton, up $5 from the previous week, the IKAR agriculture consultancy reported. China produced a record corn crop this year, up 4% from a year earlier, the National Bureau of Statistics said on Monday, with an increase in area under cultivation more than compensating for damage caused by summer typhoons. Commodity funds were net buyers of CBOT soybeans, soymeal and soyoil futures contracts on Monday, traders said. Funds were net sellers of corn and wheat futures, they said. COMFUND/CBT MARKET NEWS U.S. stocks ended in positive territory and gold slid on Monday, as investors looked ahead to crucial inflation data and the U.S. Federal Reserve's two-day monetary policy meeting. MKTS/GLOB DATA/EVENTS (GMT) 0700 UK Claimant Count Unem Chng Nov U.S. Federal Open Market Committee starts its two-day meeting on interest rates Source: Reuters | #grain | Comments: 0 Views: 6
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