Commentaar over de markt (Chicago) van: 21-mrt-2025

CBOT wheat futures traded both sides of unchanged before ending higher on Friday as traders assessed a rising dollar and a week with snowy weather in the US Plains. Funds bought 1.000 contracts. French and European grains cash prices edged up at the end of this week on potential renewed demand. As of March 18 funds were 13 million tonnes net short in wheat futures, while investment funds extended their net short position in Euronext wheat close to 219.000 contracts, a new record of open interest.

CBOT corn futures fell on Friday on a strong dollar and pre-weekend positioning against a backdrop of economic uncertainty. Traders are also positioning ahead of the USDA’s grain stocks and prospective planting reports, due on March 31. The reports will show estimates for farmers’planting intentions in 2025. Farmers are expected to plant more corn this year. Mexico’s corn imports are estimated at 25,5 million tonnes in the current October/September season, compared with 24,8 million tonnes in 2023/24. Export sales of US corn were strong this week at 1,56 million tonnes. Cum. sales are running ahead of last year’s pace by 10,3 million tonnes, while actual exports, so far, are 7,6 million tonnes ahead of last year. In the current official s/d the USDA is taking into account a rise of 4 million tonnes this season. As of March 18 funds were 2,8 million tonnes net short in corn futures.

ICE canola futures eased on Friday but ended the week inside a range since the sharp selloff last week. May canola settled down $1,00 at $ 571,70 per tonne.

CBOT soybean futures declined on Friday as the dollar rose and traders engaged in pre-weekend positioning against a backdrop of economic uncertainty. Funds sold 2.000 contracts of soybeans and 4.000 contracts of soyoil, but bought 3.500 contracts of soymeal. The USDA’s agricultural attache estimates this year’s Brazilian soybean crop at 169,5 million tonnes, versus 153 million tonnes in 2024. Exports are estimated at 108,3 million tonnes, compared with 98,8 million tonnes in 2024/25. As of March 18 funds were 5,6 million tonnes short in soybeans, 1,7 million tonnes short in soyoil and 5,5 million tonnes short in soymeal. Crude oil rose by 21 cents to $ 68,28.