USA: Soybeans were higher on commercial and technical buying, but below the day’s highs

게시됨 2021년 6월 8일

Tridge 요약

Soybeans, corn, and wheat markets experienced movements due to various factors such as weather conditions, trade developments, and domestic and global supply and demand dynamics. Soybeans faced limited demand due to overbought contracts, despite hot and dry weather potentially stressing crops and tight near-term supply. Oleoresin and meal followed suit. Corn prices were influenced by concerns over crop development and supply, with rumors of Chinese corn purchases and production reductions in Brazil. Ethanol futures were stable ahead of supply numbers, while wheat prices were mixed, with profit-taking and concerns over weather and planting in the northern Plains. Global crop conditions were generally favorable, with Japan and Jordan seeking wheat purchases from various countries.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Soybeans were higher on commercial and technical buying, but below the day’s highs. Most forecasts have more hot, dry weather in parts of the western and northern growing areas, potentially stressing the developing crop. Still, contracts are a little overbought and prices are limiting demand to some extent. The near-term supply remains tight and is only getting tighter, but the USDA likely won’t adjust the production estimate until after the release of the 2021 planted area totals at the end of the month. Quarterly grain stocks are also out June 30th. Soybean oil was also supported by commercial buying, despite the recent losses for Malaysian palm oil on increased production and supply projections, along with talk of a reduction in the export tax. India is reportedly considering lowering its import tax on edible oils to limit price inflation. Soybean meal followed beans and bean oil higher.Corn was modestly higher on fund and technical buying, with most contracts ending the ...

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