U.S. Soybean exports fall causing bean prices to fall
2021-01-27 12:20:21
Xinhua News Agency, Chicago, December 9: The latest statistics show that the U.S. soybean export has been greatly reduced. The Chicago soybean futures suffered the biggest drop since this month on the 9th, and corn also fell slightly after the previous surge in follow-up growth. However, the wheat market was boosted by the expansion of exports, ending the continuous decline and starting to rise.
The most active March contract in the corn market fell slightly by 0.25 cents to settle at 5.7425 US dollars per bushel, a decrease of 0.04%. The March wheat contract rose 4.5 cents to close at $7.885 per bushel, up 0.57%. The January soybean contract fell 14.5 cents to close at $12.815 per bushel, down 1.12%.
According to the United States Department of Agriculture’s export sales report released on the 9th, as of the week of December 2, the United States exported 870,000 metric tons of soybeans, a decrease of nearly 40% from the previous week, and the lowest single-week export value since August.
Some traders indicated that the fact that the market was in an overbought state after a big rally has also weighed on the market to a certain extent, pushing down the price of beans.
At the same time, the Chicago corn futures price also entered the adjustment phase after the surge, and the export data released on the 9th did not cause much impact on the market. According to the report of the Ministry of Agriculture, the total corn exports for the week ending December 2 was 815,000 metric tons.
With the boost of export data, the price of wheat ended its downward trend and re-entered the upward track. According to the statistics of the United States Department of Agriculture, the United States exported a total of 276,500 metric tons of wheat for the week ending December 2, which was 3.2% higher than the previous week and higher than previous market expectations.
In addition, the United States suffered from dry weather in the plains, and there are market rumors that these areas will continue to maintain dry weather in the next week, this news also provided impetus for the strong wheat prices.
The most active March contract in the corn market fell slightly by 0.25 cents to settle at 5.7425 US dollars per bushel, a decrease of 0.04%. The March wheat contract rose 4.5 cents to close at $7.885 per bushel, up 0.57%. The January soybean contract fell 14.5 cents to close at $12.815 per bushel, down 1.12%.
According to the United States Department of Agriculture’s export sales report released on the 9th, as of the week of December 2, the United States exported 870,000 metric tons of soybeans, a decrease of nearly 40% from the previous week, and the lowest single-week export value since August.
Some traders indicated that the fact that the market was in an overbought state after a big rally has also weighed on the market to a certain extent, pushing down the price of beans.
At the same time, the Chicago corn futures price also entered the adjustment phase after the surge, and the export data released on the 9th did not cause much impact on the market. According to the report of the Ministry of Agriculture, the total corn exports for the week ending December 2 was 815,000 metric tons.
With the boost of export data, the price of wheat ended its downward trend and re-entered the upward track. According to the statistics of the United States Department of Agriculture, the United States exported a total of 276,500 metric tons of wheat for the week ending December 2, which was 3.2% higher than the previous week and higher than previous market expectations.
In addition, the United States suffered from dry weather in the plains, and there are market rumors that these areas will continue to maintain dry weather in the next week, this news also provided impetus for the strong wheat prices.
TOF Pet,CT Gating Technologies,PET Computed Tomograph,PET And CT Phase Matching
MinFound Medical Systems Co., Ltd , https://www.minfoundmed.com