Grain futures’ closed on mixed territories on Thursday’s session, were Corn and Soybean ended the session higher

Grain futures’ closed on mixed territories on Thursday’s session, were Corn and Soybean ended the session higher

September 9, 2018 0 By Ali Hwary

Grain futures’ closed on mixed territories on Thursday’s session, were Corn and Soybean ended the session higher, while Wheat finished lower again, pressured by weak exports.

Oil prices dropped again on Thursday’s session by more than one percent and continued to fall on Friday as the United States data showed that gasoline inventories rose unexpectedly last week.

U.S. Crude Oil prices fell on Thursday to close at 67.87 USD a barrel and currently trading a bit lower at 67.79 at 5:00 GMT.

Moreover, Brent Oil traded also lower on Thursday’s trading session to close the session at 76.65 USD a barrel and currently dropped moderately to trade at 76.43 USD a barrel at 5:00 GMT.

 

Wheat:

CBOT Wheat December futures ended lower on Thursday’s trading session for the third day in a row to end the session in the red at 5.13 USD per bushel, and currently trading lower at 5.12 USD per bushel at 5:00 GMT.

Analysts expect that the United States Department of Agriculture to report Wheat sales in a range of 7.3 million bushels and 18.4 million bushels.

Meanwhile, regarding Wheat imports, the European Union cleared another 4.8 million bushels of Wheat under its reduced-tariffs quota.

Preliminary volume estimates fell from Wednesday’s final count of 103,605 CBOT contract to read for 88,410 CBOT contracts on Thursday’s count.

 

Corn:

CBOT Corn December futures ended Thursday’s trading session higher due to positive export demand. Corn futures ended on Thursday in the green at 3.66-1/4 USD per bushel, while currently trading lower at 3.64-1/2 USD per bushel at 5:00 GMT.

In Mainland China, through an auction on Thursday, the country sold 117.6 million bushels of its state reserve of Corn, which was about 75 percent of the country’s total available for sale.

Analysts expect the United States Department of Agriculture to report that the Corn sales will range between 15.7 million bushels and 49.2 million bushels.

Preliminary volume estimates plunged from Wednesday’s final count of 251,392 contracts to settle down at 159,392 contracts on Thursday.

 

Soybean:

CBOT Soybean November futures rose on Thursday’s session; prices were supported by adequate technical maneuvering. Soybean futures ended the session up at 8.39-1/4 USD per bushel, while currently trading lower at 8.35-1/2 USD a bushel at 5:00 GMT.

Through the United States Department of Agriculture’s export report on Friday, analysts expect that the agency will report Soybean sales to come between 7.3 million bushels and 36.7 million bushels.

Furthermore, analysts also predict that the agency will report between 100,000 and 500,000 metric tons of Soymeal sales.

Preliminary volume estimates rose from Wednesday’s final count of 83,267 contracts to read for 106,835 contracts on Thursday’s count.

 

 

Share the News