Chicago wheat futures dipped from three-month highs on Monday on profit taking following the previous week's rally sparked by crop concerns in Europe and escalating tensions between Russia and Ukraine, traders said.
Chicago Board of Trade wheat futures reached a 12-week high on Friday as escalating tensions in Russia's war with Ukraine increased uncertainty about Black Sea exports.
Chicago Board of Trade corn futures ended higher on Thursday, rebounding from a drop to near two-week lows after the U.S. Department of Agriculture (USDA) raised its estimate of the U.S. corn crop, traders said.
U.S. wheat futures hit a one-week high on Wednesday, supported by signs that supply pressure from the Black Sea export region may be easing, analysts said.
Chicago soybean futures fell to a one-week low on Tuesday, with the benchmark contract Sv1 retreating back under $10 a bushel as better-than-expected U.S. crop ratings bolstered production prospects and eased worries about recent dry weather.
U.S. soybean futures rose about one per cent on Monday, supported by fresh export demand, dry weather in the Midwest crop belt and uncertainty about the start of planting in Brazil, traders said.
Canadian grain and oilseed exports through the first month of the 2024/25 marketing year are running well ahead of what moved during the same time the previous year, with just over a million tonnes of canola already moved, according to the latest data from the Canadian Grain Commission. Total exports of all the major grain,
Kyiv | Reuters – Ukraine’s food exports by sea and river totalled 4.13 million metric tons in August, down from 4.25 million tons in July, agriculture ministry data showed on Friday. That included 2.18 million tons of wheat, 553,732 tons of corn and 454,641 tons of barley, the data showed. Ukraine’s UGA grain traders union
Soybean, corn and wheat futures in the United States were all showing modest strength in early September, recovering off their August lows as speculators bought back previously sold positions. “We’re seeing a little bit of short covering in these markets and the contract lows, at least over the short term, may be in,” said Terry