World markets for grains and oilseeds

Published 2024년 11월 19일

Tridge summary

Soybean futures on the Chicago Mercantile Exchange rose due to technical short covering, with the most-active January soybean contract breaking technical resistance at the 20-day moving average. The U.S. Department of Agriculture reported sales of soybean oil, soybeans, and soybean meal to India, Mexico, and the Philippines. In Brazil, soybean plantings for the 2024/25 season reached 80% of the expected total area. Global wheat prices are near their lowest in 2.5 months due to improving crop conditions and fierce export competition. Russian wheat export prices have also fallen. European wheat prices extended gains, hitting a two-week high, helped by a rebound in Chicago and a weak euro.

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Original content

Soybean futures on the Chicago Mercantile Exchange rose on Monday amid technical short covering after an early session decline, analysts said. The most-active January soybean contract hovered near recent lows before breaking technical chart resistance at the 20-day moving average to close near the session high. The U.S. Department of Agriculture said exporters sold 30,000 tonnes of soybean oil to India for delivery in 2024/2025. Exporters sold 261,264 tonnes of soybeans to Mexico for delivery in 2024/2025, the USDA said. Exporters sold 135,000 tonnes of soybean meal and cake to the Philippines for delivery in 2024/2025, the USDA said. On the Chicago Mercantile Exchange, January soybean futures rose 11 1/4 cents to settle at $10.09-3/4 a bushel. December soybean oil futures on the CBOT rose 17 cents to settle at 45.52 cents a pound. On the CBOT, December soybean meal futures rose 70 cents to settle at $290.30 a short ton. Daily quotes Jan 25 Soybeans are at $9.96 1/2, down 2 cents, ...

Source: Oilworld