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May 16, 2021

Grain commodity futures’ ended higher on Friday’s session, after the United States Department of Agriculture’s production and supply data.


Grain commodity futures’ ended higher on Friday’s session, after the United States Department of Agriculture’s production and supply data, in addition to some short-covering.

Regarding the weather, across the central of the United States, the weather is expected to continue cooler through the weekend and into the upcoming week, also some rain is anticipated through the latest five-day forecasts.

On the energy front, WTI Oil prices rose on Friday’s session to close at 71.50 USD per barrel and currently rose to trade at 71.66 USD per barrel at 7:40 GMT as geopolitical tensions over the disappearance of the Saudi Arabia’s journalist stoked worries about supply.

Moreover, Brent Oil gained on Friday to close at 80.52 USD a barrel and currently higher to trade at 80.94 USD per barrel at 7:40 GMT.



CBOT Wheat December futures were trading higher on Friday’s trading session after a round of short-covering to end the session at 5.16-1/4 USD per bushel, and currently trading at 5.16 USD per bushel at 7:40 GMT.

Wheat exports fell from the prior week’s total of 16 million bushels and the estimates of 16.5 million bushels to reach 12.5 million bushels last week.

FranceAgriMer, the French consultancy, estimated that the country’s 2018/2019 crop of soft Wheat planting reached 15 percent complete as of the 8th of October.

Meanwhile, Wheat export shipments counted for 18.5 million bushels last week. The Philippines continues to be the leading destination for the United States’ Wheat export commitment since the beginning of 2018/2019 marketing year, reaching 15 percent of the total.

Initial volume estimates fell moderately from Thursday’s count of 107,718 CBOT contracts to settle down at 70,906 CBOT contracts at the end of Friday.



CBOT Corn December futures ended the trading session in the green territory on Friday. CBOT Corn futures ended the session at 3.73-1/2 USD per bushel and currently trading lower at 3.72-1/4 USD at 7:40 GMT.

In mainland China, during an auction on Friday, the country sold 25.9 million bushels of its state reserve of Corn, which was 16.4 percent of its total available for sale.

Corn export sales for the week ending 4th of October fell moderately from the prior week of 56.3 million bushels and trade expectations of 49.2 million bushels to reach 39.6 million bushels.

Initial volume estimates dropped more than 28 percent from Thursday’s count of 389,842 CBOT contracts to reach 278,338 CBOT contracts on Friday.



CBOT Soybean November futures higher on Friday’s session to end the session at 8.67-1/2 USD per bushel due to a positive WASDE data, while currently trading lower at 8.65-1/4 USD per bushel at 7:40 GMT.

Last week’s Soybean export shipments totaled 32.5 million bushels. Meanwhile, for the marketing year of 2018/2019, which began the first of September, unknown destinations represented the top destination for the United States Soybean exports reaching 40 percent of the total

Initial volume estimates fell significantly from Thursday’s count of 276,715 CBOT contracts to settle down at 112,726 CBOT contracts on Friday.

Ali Hwary

Ali Hwary

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