Grain futures’ ended in the green territory, where Soybean gained after facing losses in the past days.

Grain futures’ ended in the green territory, where Soybean gained after facing losses in the past days.

August 31, 2018 0 By Ali Hwary

Grain futures’ ended in the green territory, where Soybean gained after facing losses in the past days, followed by Corn and Wheat that also advanced on yesterday’s trading session.

Oil prices today were up due to the continuing news that Iranian crude supplies fell after the United States sanctions on the country and after a fall in the U.S. crude inventories.

U.S. Crude Oil prices rose on Wednesday to close at 69.68 USD a barrel, while currently trading a bit lower at 69.62 USD per barrel at 8:45 GMT.

Moreover, Brent Oil traded also higher on Wednesday’s trading session to close the session at 77.33 USD a barrel, while currently advanced to trade at 77.37 USD a barrel at 8:45 GMT.

 

Wheat:

CBOT Wheat December futures rose on yesterday’s trading session to end the session at 5.40-1/4 USD per bushel, and now trading higher at 5.48 USD per bushel at 8:45 GMT.

In Ukraine, the country’s Wheat exports have reached 95.5 million bushels since its 2018/2019 marketing year.

Romania, one of the top suppliers of Wheat to Egypt, is expecting to harvest about 374.8 million bushels of Wheat this current season as mentioned by the country’s prime minister.

Meanwhile in Ethiopia, through an international tender with a deadline of September 18, the country wants to purchase 7.3 million bushels of milling Wheat.

Preliminary volume estimates advanced from Tuesday’s final count of 130,295 CBOT contract to read for 195,842 CBOT contracts on Wednesday.

 

Corn:

CBOT Corn December futures added fractional gains on Wednesday’s trading session supported by the technical buying and the strength from Wheat. Corn futures ended on Wednesday in the green at 3.56-1/4 USD per bushel and currently trading higher at 3.58-3/4 USD per bushel at 8:45 GMT.

In Ukraine’s marketing year 2018/2019 that starts from the first of July, the country’s Corn exports have exceeded 41.3 million bushels.

Before the United States Department of Agriculture’s export report on Thursday morning, Corn sales for the past week was expected by analysts to be between 27.6 million and 51.2 million bushels.

Preliminary volume estimates fell moderately from Tuesday’s final count of 443,835 contracts to settle down at 315,900 contracts.

 

Soybean:

CBOT Soybean November futures rebounded on Wednesday’s session and faced some gains due to a round of technical buying. Soybean futures ended the session up at 8.35-1/2 USD per bushel, while currently trading also higher at 8.41 USD a bushel at 8:45 GMT.

The United States Department of Agriculture is expected to report an extra 250,000 to 750,000 metric tons of Soymeal sales.

In Mainland China, the country sold through an auction on Wednesday 1.5 million bushels of Soybean of its state reserves of 2013, which is considered to be 13.4 percent of its total available for sale.

Preliminary volume estimates were moderately up from the last count on Tuesday of 192,387 contracts to count of 198,958 contracts on Wednesday.

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