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MarketScreener Homepage  >  Futures  >  Chicago Board Of Trade - Floor  >  WHEAT FUTURES (W) - CBR (FLOOR)/C1       

WHEAT FUTURES (W) - CBR (FLOOR)/C1

End-of-day quote. End-of-day quote Chicago Board Of Trade - Floor - 10/21
629.75 USc   -0.36%
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Corn rebounds on China demand, improved crop ratings cap gains

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09/21/2020 | 08:49pm EDT

SINGAPORE, Sept 22 (Reuters) - Chicago corn futures bounced back on Tuesday, after suffering their biggest one-day loss in almost seven weeks in the previous session, as expectations of strong Chinese demand supported prices.

Still, improved U.S. crop ratings and harvest pressure kept a lid on prices.

FUNDAMENTALS

* The most-active corn contract on the Chicago Board of Trade (CBOT) rose 0.3% to $3.70-3/4 by 0031 GMT, after dropping 2.3% in the last session, the biggest daily loss since Aug. 4.

* Soybeans added 0.3% to $10.25-1/2 a bushel and wheat gained 0.3% at $5.56-1/2 a bushel.

* China has stepped up purchases of U.S. corn and soybeans with demand for animal feed recovering.

* The USDA said private exporters reported the sale of 132,000 tonnes of soybeans to China. There were also soybean sales to Pakistan and unknown destinations.

* Condition ratings for the U.S. corn crop improved during last week and soybean ratings held steady, while the harvest of both crops was underway, the U.S. Department of Agriculture (USDA) said after the market closed on Monday.

* The USDA rated 61% of the corn crop in "good-to-excellent" condition, up from 60% a week earlier, bucking analyst expectations for a 1-point decline.

* High demand from importers and concerns over the winter harvest drove Ukraine's 2020 export prices for 12.5% protein milling wheat around $9 per tonne higher over the last week, APK-Inform agriculture consultancy said on Monday.

* Egypt's General Authority for Supply Commodities set a tender on Monday to buy an unspecified amount of wheat from global suppliers for shipment Nov. 21-30.

* Commodity funds were net sellers of CBOT corn, wheat, soybean, soyoil and soymeal futures contracts on Monday, traders said.

MARKET NEWS

* Asian shares opened weaker on Tuesday on concerns about new pandemic lockdowns in Europe and after reports about financial institutions allegedly moving illicit funds hurt global banking stocks.

DATA/EVENTS (GMT) 1400 US Existing Home Sales Aug 1400 EU Consumer Confid. Flash Sept (Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)


Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (C) - CBR (FLOOR)/C1 1.22% 413.75 End-of-day quote.4.51%
SOYBEAN MEAL FUTURES (ZM) - CBE (ELECTRONIC)/C1 1.94% 379.1 End-of-day quote.24.01%
SOYBEAN OIL FUTURES (ZL) - CBE (ELECTRONIC)/C1 -0.33% 33.2 End-of-day quote.-3.42%
WHEAT FUTURES (W) - CBR (FLOOR)/C1 -0.36% 629.75 End-of-day quote.13.11%
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