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June 19, 2021

Grain futures’ ended in the mixed territory


Grain futures’ ended in the mixed territory, were Wheat plunged due to a round of technical selling and weak export demand, Soybean ended flat, while Corn found some gains supported by technical buying.

Grain futures were affected by market pressures and some favorable conditions regarding United States trade concerns and export pressures.

Oil prices faced some losses on today’s session on fears that the United States and China’s trade dispute will wear down global economic growth. However, the sanctions on Iran’s oil by the U.S. kept oil prices for falling further.

U.S. Crude Oil prices rose on Friday to close at 68.51 USD a barrel. However, Crude Oil is currently trading lower at 68.45 USD per barrel at 9:30 GMT.

Meanwhile, Brent Oil traded higher on Friday to close the session at 75.60 USD a barrel and is currently trading a bit lower at 75.59 USD a barrel at 9:30 GMT.



CBOT Wheat September futures fell by around 0.5 percent on Friday to end the session at $5.14-3/4 per bushel, and now trading even lower at 5.07-1/4 per bushel at 9:30 GMT.

In Germany, due to the latest hot and dry weather across the European Union, the country has reported that its total Wheat production could drop by 19 percent from the past year, to reach 712.8 million bushels this current year.

Meanwhile in China, through an auction on Friday, the country sold from its 2013 imported Wheat reserve around 185,000 bushels, which was 0.3 percent of the country’s total available for sale.

Meanwhile, Tunisia has purchased 1.8 million bushels of soft milling Wheat through an international tender that closed Friday.

Preliminary volume estimates dropped from Thursday’s final count of 132,409 CBOT contract to read for 111,020 CBOT contracts on Friday.



CBOT Corn September futures ended higher on Friday’s trading session to close in the green at 3.48-1/4 USD per bushel and currently trading lower at 3.45-3/4 USD a bushel at 9:30 GMT.

Mainland China has sold through an auction on Friday 31 million bushels of its state reserve, which was 19.8 percent of its total available for sale.

On the other hand, through an international tender that closed on Friday, South Korea has bought 2.4 million bushels of Corn for shipment to be in December.

Meanwhile, in Brazil, the country’s center-south Ethanol production reached around 523 million gallons in the first half of this current year

Preliminary volume estimates dropped significantly from Thursday’s final count of 430,455 contracts to settle down at 246,479 contracts.



CBOT Soybean September futures ended flat on Friday’s session at 8.42 USD per bushel, while currently trading significantly lower at 8.27 USD a bushel at 9:30 GMT.

Private exporters have reported to the United States Department of Agriculture the sale of 5.4 million bushels of Soybean to be delivered to unknown destinations starting from the first of September for the marketing year of 2018/2019.

Preliminary volume estimates moderately dropped from the last count on Thursday of 168,076 contracts to count of 119,343 contracts.

Ali Hwary

Ali Hwary

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