Main page   About us  |  Our news  |   Our services  |  Contacts
Main page Ikar.ru guide Feedback RSS       In Russian

GRAIN | FLOUR | CEREALS | SUGAR | OILSEEDS | FEEDSTUFFS & INGREDIENTS | MEAT | DAIRY
Search:  


ANALYTICS & NEWS

   IKAR in Mass Media
   Market prices
   Graphically speaking
   Market studies
   Exhibitions
   Partners
   Investment


WORK IN AGRICULTURE

   Vacancies
   Resume


   About us
   Our news
   Our services
   Contacts

IKAR in Mass and Industry Media


GRAINS-Soybeans edge up after decline, harvest pressure caps gains

Reuters, 27.09.17


SINGAPORE, Sept 26 (Reuters) - Chicago soybean futures ticked higher on Tuesday as the market took a breather following last session's biggest one-day decline in six weeks, although expectations of a rapid U.S. harvest limited gains.

Wheat rose for a second day, underpinned by short-covering and positioning ahead of a U.S. crop report due on Friday.

The Chicago Board Of Trade's most-active soybean contract edged up 0.3 percent to $9.73-3/4 a bushel by 0210 GMT after Monday's 1.3 percent decline, the biggest daily loss since Aug. 15.

Wheat rose 0.3 percent to $4.55-1/2 a bushel, having closed up 1 percent on Monday and corn gained 0.1 percent to $3.54 a bushel.

After the market closed on Monday, the U.S. Department of Agriculture said 11 percent of the U.S. corn crop has been harvested as of Sept. 24, behind market expectations of 14 percent.

It said 10 percent of the U.S. soybean crop had been harvested, close to the five-year average of 12 percent by this time of the year.

Going forward, there are expectations of a rapid pickup in the pace of the U.S. harvest.

Unseasonably hot U.S. weather is accelerating corn and soybean crop maturity after months of concerns that lagging development could drag down yields or put some late-planted acres at risk of damage from frost, agronomists and analysts said.

Soybean prices are under additional pressure from a forecast of improved weather in Brazil.

"Weather forecasters have revised their outlook for Brazil's driest soybean regions," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia.

"The forecasters were expecting continued dry conditions. Now that has evolved to a somewhat wetter outlook. The forecast rainfall is modest so the market will continue to worry about delayed planting for a while yet."

In the wheat market, traders are squaring positions ahead of the USDA's small grains and quarterly stocks reports due on Friday.

Russian wheat export prices rose last week, supported by higher global benchmarks and strong demand from buyers.

Black Sea prices for Russian wheat with 12.5 percent protein content and September delivery were at $189 a tonne on a free-on-board (FOB) basis at the end of last week, up from $185 a week earlier, agriculture consultancy IKAR said.

Commodity funds were net sellers of CBOT soybean, soymeal and soyoil futures contracts on Monday and were net buyers of corn and wheat.

 Grains prices at  0210 GMT
 Contract    Last    Change  Pct chg  Two-day chg  MA 30   RSI
 CBOT wheat  455.50  1.50    +0.33%   +1.33%       441.16  74
 CBOT corn   354.00  0.25    +0.07%   +0.14%       355.80  62
 CBOT soy    973.75  2.50    +0.26%   -1.07%       953.96  59
 CBOT rice   12.04   $0.02   +0.12%   -2.67%       $12.64  27
 WTI crude   52.15   -$0.07  -0.13%   +2.94%       $48.58  78
 Currencies                                                
 Euro/dlr    $1.186  $0.001  +0.12%   -0.77%               
 USD/AUD     0.7943  0.001   +0.11%   -0.24%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per
 hundredweight
 RSI 14, exponential


All viewing: 139
Discuss

Where The Margin Is
Annual Conference Agribusiness
media feedback

IKAR is a member of International research project Agri Benchmark from May 2010

Agri Benchmark

Putin Is Growing Organic Power One T-34 Tank-Tomato at a Time



Grain | Cereals | Sugar | Oilseeds | Feedstuffs & Ingredients | Meat | Dairy


IKAR. Institute for Agricultural Market Studies. www.IKAR.ru

© 2002-2019  
IKAR. Institute for Agricultural Market Studies
24, Ryazansky str., off. 604, Moscow, Russia
Tel/Fax: +7 (495) 232-9007 | www@ikar.ru |  Feedback

Rambler's Top100 Рейтинг@Mail.ru
Google translate: Google translate: Russian Google translate: German Google translate: French Google translate: Italian Google translate: Portuguese Google translate: Spanish Google translate: Turkish Google translate: Lithuanian Google translate: Chinese Google translate: Korea