USDA report: on June 5, wheat and corn prices were mostly stable, and corn prices were mostly adjusted

Published 2020년 7월 15일

Tridge summary

The USDA reported the sale of 120,000 tons of soybeans to an unknown destination, likely China, despite trade uncertainties and concerns. The dollar's weakness and Brazilian real's strength have made US beans more attractive on the international market. However, the potential refusal of a South China oil plant's GMO certificate application has caused market concerns. Meanwhile, domestic prices for soybeans, corn, and wheat are mostly stable with slight adjustments. The flour market is cautious as it enters the off-season, with companies reducing prices due to overcapacity and high summer temperatures affecting storage.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA released a report on Thursday that private exporters sold 120,000 tons of soybeans to unknown destinations. The market generally believes that the unknown destination is likely to be China, and the dollar exchange rate has weakened, while the Brazilian real exchange rate has risen strongly, causing US beans to international Buyers are more attractive, and the market expects more export sales in the next few weeks, boosting the price of US beans. However, the uncertainty of Sino-US trade relations is greater, and rumors that a South China oil plant rapeseed GMO certificate application has been The refusal increased the market’s concerns about China’s counterattack against Canada after the Meng Wanzhou case. Today’s Dalian Pan Soybean Oil stopped falling and rose again. Dalian Pan Soybean Meal also rose moderately, while Malaysian Palm Oil was profited and expected to increase inventory in May The total fell by 3%, and the palm oil in Dalian was shocked today. (1) Soybean ...

Source: ZG3N