CBOT wheat futures were mixed on Thursday as a weaker dollar underpinned the market while gains were capped by limited US export demand and easing concerns about Russian shipping disruptions. Authorities in Russia have halted grain exports on some ships belonging to Aston, one of the biggest local grain trading houses, two industry sources said, but the company denied there were any delays. Traders are monitoring weather forecasts in the Plains after the USDA this week reported the winter crop was in the best shape in five years for early spring. Recent forecasts have predicted varying amounts of rain for the US wheat belt over the coming weeks. Funds were even. Weekly export sales of US wheat at 16.100 tonnes were towards the low end of trade expectations for minus 100.000 to 400.000 tonnes.
CBOT corn futures ended firmer on Thursday as solid weekly export sales and a weak dollar underpinned prices, but ample grain supplies and a favorable US spring planting weather outlook capped gains. Funds bought 1.500 contracts. Weekly export sales of US corn were, with 948.000 tonnes, in line with trade forecasts that ranged from 0,8 to 1,4 million tonnes. In March, Brazil exported 431.000 tonnes of corn, compared with 1,34 million tonnes in the same month last year.
ICE canola futures slipped on Thursday, following soybeans and European rapeseed lower. Most-active May canola gave up 60 cents to settle at $ 633,60 per tonne.
CBOT soybean futures fell on Thursday as soyoil prices dropped with weaker energy prices and as weekly soy export sales in a morning report from the USDA fell short of expectations. Funds sold 2.000 contracts of soybeans and 2.500 contracts of soyoil, but bought 4.000 contracts of soymeal. Weekly export sales of US soybeans at 194.200 tonnes were below a range of trade expectations for 200.000 to 600.000 tonnes. Sales of soymeal (202.200 tonnes) were in line with trade estimates for 75.000 to 350.000 tonnes, and soyoil sales (3.100 tonnes) were towards the low end of trade forecasts that ranged from minus 5.000 to 10.000 tonnes. US exporters sold 152.404 tonnes of soybeans to Mexico for 2023/24 delivery. In March, Brazil exported 12,63 million tonnes of soybeans, versus 13,24 million tonnes in March 2023. Crude oil rose by $ 1,16 to $ 86,59.
Bron: Stigevo