US wheat futures finished mixed on Monday, with Kansas City wheat rising as traders assessed weather risks for crops in the southern US Plains. Analysts said they were monitoring rains that missed part of the Plains hard red winter wheat belt, along with unfavorable winds. Funds sold 500 contracts. Weekly export inspections of US wheat at 498.000 tonnes were near the high end of a range of trade expectations for 300.000 to 500.000 tonnes. Wheat export inspections for the marketing year beginning June 1 are at 15,35 million tonnes, down 11,0 percent from the same period last year. Ukraine’s grain exports have fallen to around 36 million tonnes as of April 5, from 38,5 million a year earlier. Exports have included 14,2 million tonnes of wheat, 19,5 million tonnes of corn and 1,97 million tonnes of barley.
CBOT corn futures finished slightly higher on Monday as traders monitored prospects for US plantings. Corn prices have been anchored by ample supplies and forecasts for good planting weather in the heart of the US Midwest corn belt later this month. Funds bought 500 contracts. Weekly export inspections of US corn at 1,42 million tonnes were topping trade forecasts that ranged from 1,0 to 1,4 million tonnes. Corn export inspections for the marketing year beginning Sept. 1 are at 27,33 million tonnes, up 35,2 percent from the same period last year.
ICE canola futures slipped on Monday on spillover pressure from sagging soyoil and crude markets. Most-active May canola gave up $ 4,80 to settle at $ 638,30 per tonne.
CBOT soybean futures ended lower on Monday as stiff competition for US export sales from Brazil and concerns about demand from top-importer China continued to hang over the market. Funds sold 1.000 contracts of soybeans and 3.000 contracts of soyoil, but bought 2.500 contracts of soymeal. Weekly export inspections of US soybeans at 484.000 tonnes were in line with a range of trade estimates for 350.000 to 700.000 tonnes. Soybean export inspections for the marketing year beginning Sept. 1 are at 37,60 million tonnes, down 18,5 percent from the same period last year. Brazil’s soybean harvest for the 2023/24 cycle had reached 78 percent of the planted area as of last Thursday, AgRural said on Monday, up 4 percentage points from the previous week. Consultancy AgResource raised its estimate for Brazil’s 2023/24 soybean crop to 145,46 million tonnes from 143,92 million in a previous forecast. Crude oil fell by 48 cents to $ 86,43.
Bron: Stigevo