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



   IKAR in Mass Media
   Market prices
   Graphically speaking
   Market studies



   About us
   Our news
   Our services

IKAR in Mass and Industry Media

GRAINS-Wheat set to fall for second day on supply glut; corn struggles

Reuters, 27.08.19

SINGAPORE, Aug 27 (Reuters) - Chicago wheat futures slid for a second session on Tuesday, as the trading sentiment was marred by abundant global supplies following bumper harvests in top exporting countries.

Corn fell for a third consecutive session on pressure from crop-friendly weather across the U.S. Midwest.


* The most-active wheat contract on the Chicago Board Of Trade (CBOT) lost 0.2% at $4.74-1/4 a bushel by 0057 GMT, having closed down 0.5% on Monday. Corn gave up 0.1% to $3.68 a bushel and soybeans were down 0.2% at $8.65-1/4 a bushel.

* Wheat faces pressure from increased competition in the global market.

* Export prices for Russian wheat fell last week due to a decline in Chicago grain futures and stiff competition with other producers, analysts said on Monday.

* Black Sea prices for wheat with 12.5% protein content fell $3 to $190 a tonne on a free on board basis by the end of last week, Russian agricultural consultancy IKAR said.

* The wheat market is awaiting results of a tender issued by Egypt, the world's top importer, to buy an unspecified amount of wheat from global suppliers for shipment from Oct. 1 to 10.

* Plentiful rain in most of the U.S. Crop Watch locations last week boosted expectations for corn yield to the highest levels of the season, though the prediction calls for just slightly above average results.

* The week ahead looks drier for most of the Crop Watch locations, which should be fine, but the temperatures will be a little cooler than ideal, especially in northern areas that need heat to push the crops to the finish. However, the week should contain good stretches of much-needed sunshine.

* The U.S. Department of Agriculture on Monday increased its good-to-excellent rating for the corn crop by one percentage point to 57% and its soybean rating by two points to 55%.

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

* The soybean market rallied on Monday as trade tensions between Washington and Beijing eased.

* Traders grew hopeful that the world's two largest economies could move toward an agreement to end their trade war as Trump said he believed Beijing was sincere about wanting a deal.

* The trade war heated up on Friday as both sides levelled more tariffs on each other's exports.


* Asian stocks tracked global peers higher on Tuesday while safe-haven bonds sold off as signs Sino-U.S. trade hostilities might be easing helped restore investor confidence after the previous session's rout.

DATA/EVENTS AHEAD (GMT) 0600 Germany GDP Detailed QQ SA Q2 0600 Germany GDP Detailed YY NSA Q2 0645 France Business Climate Mfg Aug 1400 US Consumer Confidence Aug Grains prices at 0057 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 474.25 -1.00 -0.21% -0.73% 490.43 46 CBOT corn 368.00 -0.25 -0.07% +0.07% 402.50 27 CBOT soy 865.25 -2.00 -0.23% +1.02% 883.06 44 CBOT rice 11.53 $0.00 +0.00% +3.13% $11.90 51 WTI crude 53.88 $0.24 +0.45% -0.54% $55.34 Currencies Euro/dlr $1.110 $0.000 +0.01% -0.39% USD/AUD 0.6769 0.000 -0.07% +0.22% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

All viewing: 159

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.

© 2002-2020  
IKAR. Institute for Agricultural Market Studies
24, Ryazansky str., off. 604, Moscow, Russia
Tel/Fax: +7 (495) 232-9007 | |  Feedback

Rambler's Top100 Рейтинг
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