Grain futures’ ended in the red territory, where Soybean, Corn, and Wheat faced some pressure.

Grain futures’ ended in the red territory, where Soybean, Corn, and Wheat faced some pressure due to a round of profit taking and worries about the large United States crops.

Oil prices were up on Thursday to its highest for a month due to the continuing disruption from both Iran and Venezuela to crude supply and due to declines in the United States inventories.

U.S. Crude Oil prices rose on Thursday to close at 70.03 USD a barrel and currently advanced to trade at 70.28 USD per barrel at 5:45 GMT.

Moreover, Brent Oil traded also higher on Thursday’s trading session to close the session at 77.70 USD a barrel, while currently rose to trade at 78.01 USD a barrel at 5:45 GMT.

Wheat:

CBOT Wheat December futures declined on Thursday’s trading session to end the session at 5.34-3/4 USD per bushel, but currently trading higher at 5.40 USD per bushel at 5:45 GMT.

Last week’s Wheat exports reached 15.2 million bushels which were higher than the estimates of 12.9 but still below the prior week’s count of 17 million bushels.

Furthermore, the Philippines is the number one destination for the U.S. Wheat exports in 2018/2019, leading by 16 percent of the total.

In Syria, the country has issued a tender to buy around 7.3 million bushels of soft bread Wheat to be shipped between October and December, sourced from Russia, Romania or Bulgaria.

Preliminary volume estimates dropped from Wednesday’s final count of 195,842 CBOT contract to read for 112,255 CBOT contracts on Thursday.

Corn:

CBOT Corn December futures fell on Thursday’s trading session pressured by the technical maneuvering. Corn futures ended on Thursday in the red at 3.56-1/4 USD per bushel while currently trading higher at 3.58-1/2 USD per bushel at 5:45 GMT.

Through an auction on Thursday, China had sold 102.9 million bushels of the country’s state reserve of Corn, which was around 65.9 million bushels of its total available for sale.

Meanwhile, in Mexico, the country was the leading destination of the United States Corn exports in 2017/2018 marketing year, reaching 25 percent of the total.

Preliminary volume estimates fell moderately from Wednesday’s final count of 398,275 contracts to settle down at 395,803 contracts.

Soybean:

CBOT Soybean November futures fell on Thursday’s session after rebounding on Wednesday due to harvest pressure. Soybean futures ended the session down at 8.31-1/4 USD per bushel, while currently trading higher at 8.34-3/4 USD a bushel at 5:45 GMT.

Meanwhile, USDA’s latest assessment of Argentina’s 2017/18 soybean crop is for a total production of 1.322 billion bushels, dropping another 36.8 million bushels due to drought damage.

In Mainland China, was a relative non-factor last week for export shipments but continues to lead all destinations for U.S. soybean export commitments this marketing year, accounting for 48 percent of the total.

Preliminary volume estimates fell from the last count on Wednesday’s count of 198,068 contracts to settle down at 159,493 contracts on Thursday.