Commentaar over de markt (Chicago) van: 03-mrt-2025

CBOT wheat futures closed lower on Monday, retreating from early advances as corn and soybean futures declined on rising trade tensions and expectations of large South American crops. The Australian government raised its estimate of the country’s 2024/25 wheat crop to 34,1 million tonnes, up 2,2 million from its December estimate of 31,9 million tonnes. Funds sold 5.000 contracts. Weekly export inspections of US wheat at 390.000 tonnes were in line with a range of trade expectations for 250.000 to 550.000 tonnes. Wheat export inspections for the marketing year beginning June 1 are at 15,63 million tonnes, up 20,5 percent from the same period last year.

CBOT corn futures fell 2,8 percent on Monday as worries about trade tensions and ample South American harvests appeared to spur commodity funds to liquidate more of their large net long position. US president Donald Trump appeared set to impose tariffs early on Tuesday on Canada and Mexico amid last-minute negotiations over border security and the flow of fentanyl. After the CBOT close, Trump said there was no chance for Mexico or Canada to avert the tariffs. Meanwhile, China has American agricultural exports in its crosshairs as it prepares countermeasures against fresh US import tariffs, China’s state-backed Global Times reported. Funds sold 21.000 contracts. Weekly export inspections of US corn at 1,35 million tonnes were towards the high end of trade forecasts that ranged from 0,95 to 1,40 million tonnes. Corn export inspections for the marketing year beginning Sept. 1 are at 27,26 million tonnes, up 31,7 percent from the same period last year. US exporters sold 114.000 tonnes of corn to Mexico for 2024/25 delivery.

ICE canola futures fell Monday as vegoils and crude oil dropped. Most-traded May canola lost $ 5,20 to settle at $ 645,90 per tonne.

CBOT soybean futures closed lower on Monday on spillover weakness from sliding corn futures, worries about trade tensions with US soy buyers and the ongoing harvest of a bumper Brazilian soy crop. Funds sold 9.000 contracts of soybeans, 3.000 contracts of soymeal and 6.500 contracts of soyoil. Weekly export inspections of US soybeans at 695.000 tonnes were in line with a range of trade expectations for 350.000 to 975.000 tonnes. Soybean export inspections for the marketing year beginning Sept. 1 are at 37,59 million tonnes, up 9,6 percent from the same period last year. Crude oil declined by $ 1,39 to $ 68,37.