top of page

Agriculture News July 29, 2024

29 thg 7, 2024

Corn

 

The weekly Commitment of Traders report showed specs in corn futures and options covering 24,847 contracts from their net short position as of July 23. That took them to a still large net short of 318,549 contracts.


Corn prices fell sharply in the final session of the week, almost erasing the gains of the previous three days. The September Corn contract settlement price on July 26 was 394.5 cents/bushel, down nearly 3% from the previous session.

 

Soybean

 

China’s National Grain and Oils Information Center reported the country has completed August soybean purchases and estimated that August soybean arrivals will reach 8 mmt, and September at 9 mmt.

 

The weekly update from CFTC showed the managed money spec funds in soybeans cutting back 22,091 contracts from their previously record net short in soybean futures and options. That stood at 163,569 contracts on July 23.


September soybean futures also fell sharply in the final session of the week, bringing prices back to where they were at the start of the week. The July 26 settlement price was 1,042 cents/bushel, down more than 3% from the previous session.

 

Wheat

 

The Buenos Aires Grain Exchange estimated Argentina wheat planting advanced 3.5% to 98.5% complete in the week ended July 24. Wheat conditions rated as good to excellent fell from 42% to 39%.

 

Spec funds in CBT wheat were trimming just 702 contracts from their net short as of July 23 to 75,184 contracts. In KC futures and options, they peeled back 3,030 contracts from their net short to 40,866 contracts.

 

Taiwan wheat mill importers purchased 105,650 MT of US wheat in a tender on Friday. The FranceAgriMer pegged the country’s wheat harvest at 41% complete, up from 14% the week prior but still behind average. Conditions were down 2% to 50% gd/ex. SovEcon raised their projection for the Russian wheat crop again, this time by 0.5 MMT to 84.7 MMT.


September Wheat futures were no exception, falling sharply in the final session of last week. The July 26 settlement price was 523.5 cents/bushel, down more than 2.6% from the previous session.

 

Source: Barchart

Related Posts

Coffee Prices Continue Upward Trend.

Coffee News October 11, 2024

11 tháng 10, 2024

U.S. September CPI Rises More Than Expected

Economics News October 11, 2024

11 tháng 10, 2024

Metal Prices Soar Following U.S. Economic Data

Metals News October 11, 2024

11 tháng 10, 2024

Related Post

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

bottom of page