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-soybeans fall to 6-day low as weather fears temper

Reuters, 08.07.20

* Soybeans under pressure from ample global supplies
* Corn edges lower as weather seen as less severe
* Wheat edges higher

SYDNEY, July 8 (Reuters) - U.S. soybean futures fell on Wednesday as concerns over adverse weather in the United States eased, pushing prices to a six-day low.

Corn fell as conditions indicated that the hot, dry weather across the U.S. Midwest would not be as severe as initially feared, while wheat edged higher.

The most active soybean futures on the Chicago Board Of Trade were down 0.5% at $8.98-1/4 a bushel, near the session low of $8.96-3/4 a bushel - the lowest since July 2. Soybeans closed down 0.5% on Tuesday.

"The only thing holding prices up at the moment is the threat of adverse weather and that isn't happening," said Phin Ziebell, agribusiness economist, National Australia Bank.

"The world is awash with supplies, China has killed a lot of pigs so fundamentals are pretty bearish."

Earlier this week, the USDA rated 71% of the U.S. soybean crop as being in good-to-excellent condition, unchanged from the previous week and above analysts' expectations for 70%.

The most active corn futures were down 0.4% at $3.51 a bushel, having closed down 1.1% in the previous session.

The agency said 71% of U.S. corn was in good-to-excellent shape, compared to 73% last week and 72% expected by analysts

The most active wheat futures were up 0.3% at $4.96-1/2 a bushel, having closed up 0.4% in the previous session.

France's farm ministry forecast a near 21% drop in the French soft wheat harvest this year to 31.3 million tonnes.

IKAR, one of Russia's leading agriculture consultancies, cut its estimate for the Russian wheat crop by 1.5 million tonnes to 78 million tonnes.

All viewing: 73

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.

© 2002-2021  
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