CBOT wheat futures ticked down on Monday on lighter demand, though a hefty purchase of wheat by Saudi Arabia as well as the Russian government’s move to slow export sales supported the market. Saudi Arabia’s main state wheat-buying agency the General Food Security Authority (GFSA) has purchased 804.000 tonnes of hard wheat in an international tender. Though the United States is not expected to supply the wheat, a large purchase takes a hefty chunk of the grain out of the market, traders said. Funds sold 3.000 contracts. Weekly export inspections of US wheat at 298.000 tonnes were in line with trade expectations for 200.000 to 350.000 tonnes. Wheat export inspections for the marketing year beginning June 1 are at 11,54 million tonnes, up 29,4 percent from the same period last year. Ukraine’s grain exports in the 2024/25 season reached 19,51 million tonnes by Dec. 16, up from 16,01 million tonnes at Dec. 20 last year. The volume included 9,21 million tonnes of wheat, 8,08 million tonnes of corn and 1,90 million tonnes of barley.
CBOT corn futures ended higher on Monday as an increase in demand supported prices, though the prospect of a bumper South American corn crop limited gains. Favorable South American crop conditions and a lack of weather threats have pressured corn and soy futures, though both have received support from bargain-buying after price falls late last week. Funds bought 5.000 contracts. Weekly export inspections of US corn at 1,13 million tonnes were towards the high end of trade forecasts that ranged from 0,75 to 1,20 million tonnes. Corn export inspections for the marketing year beginning Sept. 1 are at 13,30 million tonnes, up 31,0 percent from the same period last year.
ICE canola futures contracts fell more than 2 percent on Monday, closing within a whisker of session lows, as weakness in soyoil hit confidence in canola’s relative strength. Most-active March canola lost $ 13,90 to settle at $ 610,10 per tonne.
CBOT soybean futures tipped down as expectations of a bumper South American crop and lower-than-expected soy crush numbers put pressure on prices. NOPA members crushed 193,2 million bushels of soybeans in November, below the average estimate of 196,7 million. Funds sold 8.000 contracts of soybeans and 3.500 contracts of soyoil, but were even in soymeal. Weekly export inspections of US soybeans at 1,68 million tonnes were in line with a range of trade expectations for 1,3 to 2,2 million tonnes. Soybean export inspections for the marketing year beginning Sept. 1 are at 25,23 million tonnes, up 19,1 percent from the same period last year. Crude oil declined by 58 cents to $ 70,71.
Bron: Stigevo