Market Commentary 26 Apr 2024
Wheat Commentary
US wheat futures climbed to the highest levels since December on Friday April 26, with market participants still concerned that dry weather in growing areas in both the US and Russia could impact crop yields.
Corn Commentary
US corn futures edged higher for the second day in a row on Friday April 26, gaining strength from the rally in the wheat market and on speculation that demand for the country’s exports will remain robust in the weeks ahead.
Soybean Commentary
Soybean futures ended the week in negative territory on the Chicago Mercantile Exchange (CME) on Friday April 26 due to lower soymeal prices and a higher US dollar.
Vegoils Commentary
Crude palm oil (CPO) futures closed the week in positive territory on pre-weekend positioning and support from slightly firmer rival oils on Friday April 26.
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Market Commentary 25 Apr 2024
Wheat Commentary
US wheat futures climbed on Thursday April 25 to the highest levels since February, with traders continuing to express concern about dry conditions in prime growing areas in both the US and Russia.
Corn Commentary
US corn futures climbed on Thursday April 25 after US Department of Agriculture (USDA) data showed that the country’s corn sales advanced last week, while exports jumped to a marketing-year high.
Soybean Commentary
Soybean futures on the Chicago Mercantile Exchange (CME) dropped on Thursday April 25, with US export sales landing below estimates, along with pressure from external markets and products.
Vegoils Commentary
Crude palm oil (CPO) futures slid for a second consecutive session on Thursday April 25, with downward pressure coming from weaker rival oils and indications of softer export demand.
Market Commentary 24 Apr 2024
Wheat Commentary
US wheat futures jumped to two-month highs on Wednesday April 24 while market participants expressed concern about dry conditions in prime areas and recent price moves spurred technical buying.
Corn Commentary
US corn futures edged lower, falling on Wednesday April 24, for the first time in four sessions, while traders wait for fresh headlines before making big bearish or bullish bets.
Soybean Commentary
Soybean futures on the Chicago Mercantile Exchange (CME) moved slightly up on Wednesday April 24 despite bearish external markets.
Vegoils Commentary
Crude palm oil (CPO) futures ended a two-day rally to close lower on Wednesday April 24, following indications of a softer growth in exports and a slowdown in short covering.
Market Commentary 23 Apr 2024
Wheat Commentary
US wheat futures climbed for a third session on Tuesday April 23 after the US Department of Agriculture’s (USDA) weekly crop progress update showed that winter wheat conditions declined more than expected, adding to concerns about the impact of dry weather on the country’s crop.
Corn Commentary
US corn futures edged higher on Tuesday April 23 in line with the wheat market, but market participants seemingly shrugged off a US Department of Agriculture (USDA) report showing that planting advanced more than expected last week.
Soybean Commentary
Soybean futures on the Chicago Mercantile Exchange (CME) moved up on Tuesday April 23, supported by a rebound in external markets despite faster-than-expected US sowing.
Vegoils Commentary
Crude palm oil (CPO) futures extended their gains for a second day on Tuesday April 23, buoyed by strength in related vegetable oils. Early gains were moderated at the close of trade, with market participants awaiting further indications on production performance amid a relatively steady export pace.
Market Commentary 22 Apr 2024
Wheat Commentary
US and European wheat futures surged on Monday April 22 amid short covering spurred by drought worries in some US hard red winter (HRW) areas, less-than-ideal planting conditions in western Europe, and Russian attacks on Ukrainian infrastructure.
Corn Commentary
US corn futures went up on Monday April 22 after a report from the US Department of Agriculture (USDA) showed that the numbers of export inspections increased by more than was projected by analysts last week.
Soybean Commentary
Soybean futures on the Chicago Mercantile Exchange (CME) posted double-digit gains on Monday April 22, supported by strong soyoil gains and surging wheat prices.
Vegoils Commentary
Crude palm oil (CPO) futures closed higher for the first time in seven days on Monday April 22, following a round of bargain buying and supportive export data.
Market Commentary 19 Apr 2024
Wheat Commentary
US wheat futures advanced on Friday April 19, for a second day, on speculation that recent price declines will attract buyers, but market participants said prices will remain vulnerable to an additional decrease next week because of plentiful global supply.
Corn Commentary
US corn futures edged up on Friday April 19 for the first time in a week, with lower prices attracting buyers and the US Department of Agriculture (USDA) reporting private exporter sales to Mexico.
Soybean Commentary
Soybean futures prices on the Chicago Mercantile Exchange (CME) returned to positive territory on Friday April 19 following product and crude oil gains and the release of the US Department of Agriculture's flash sales report.
Vegoils Commentary
Crude palm oil (CPO) futures fell to the lowest level since the end of February on Friday April 19 on continued weakness in the wider vegoil complex and when the initial reaction to stronger crude oil prices earlier in the day tapered off.
Market Commentary 18 Apr 2024
Wheat Commentary
US wheat futures advanced on Thursday April 18 due to concerns about dryness in many US hard red winter (HRW) areas, while market participants shrugged off disappointing US Department of Agriculture sales and export data.
Corn Commentary
US corn futures slipped for a fourth day on Thursday April 18 after US Department of Agriculture (USDA) data showed that the country’s corn sales continued to lag recent levels, while exports declined.
Soybean Commentary
The front-month soybean futures contract on the Chicago Mercantile Exchange (CME) fell on Thursday April 18 to its lowest price since February 29, partly due to lower soyoil prices and despite good export sales in the US.
Vegoils Commentary
Crude palm oil (CPO) futures continued to fall to a six-week low on Thursday April 18 due to similar movements in related Asian vegoil futures and crude oil prices.