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U.S. agricultural futures rise
2022-03-31 00:00:00.0     星报-世界     原网页

       

       CHICAGO, March 30 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Wednesday, led by corn.

       The most active corn contract for May delivery soared 11.75 cents, or 1.62 percent, to settle at 7.38 U.S. dollars per bushel. July wheat rose 13.75 cents, or 1.36 percent, to settle at 10.23 dollars per bushel. May soybean gained 21 cents, or 1.28 percent, to settle at 16.64 dollars per bushel.

       Grain futures were sharply higher as CBOT is adding back the conflict premium ahead of the U.S. Department of Agriculture (USDA) Stocks/Seeding report on Thursday. The Ukraine spring planting season has started.

       With USDA report less than 24 hours away, position squaring will be featured into Thursday. However, with the conflict back on, it is difficult to sustain any lasting bearish trend heading into a new Northern Hemisphere growing season. Chicago-based research company AgResource holds to a bullish outlook on CBOT with the weather risks growing as Ukraine farmers struggle to seed spring crops. The duration of the conflict will be a key CBOT price driver.

       USDA reported the sale of 128,000 metric tons of soybean to Mexico on Wednesday.

       Limited rains are forecast for the Western Plains with two systems producing rains for the Eastern Plains and the Midwest. A secondary shift of cold air drops southward into the Plains during the 11-15 day period with Plains dryness maintained.

       


标签:综合
关键词: soybean     Ukraine     settle     cents     Plains     bushel     conflict    
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