CBOT wheat futures fell on Monday, pressured by forecasts for improving weather in dry areas of the US Plains production belt and spillover weakness as European wheat futures hit one-year lows. US markets will be closed on Friday in observance of the Good Friday holiday. Funds sold 3.000 contracts. Weekly export inspections of US wheat at 604.000 tonnes were topping a range of trade expectations for 200.000 to 525.000 tonnes. Wheat export inspections for the marketing year beginning June 1 are at 18,30 million tonnes, up 14,4 percent from the same period last year. Ukraine’s grain exports in the 2024/25 season reached 33,89 million tonnes by April 14, down from 38,61 million tonnes as of April 17 last year. The volume included 13,42 million tonnes of wheat, 17,72 million tonnes of corn and 2,24 million tonnes of barley.
CBOT corn futures closed lower on Monday for the first time in seven sessions, retreating on profit-taking and technical selling after the benchmark May contract failed to match a six-week high set on Friday. Reminders of brisk export demand underpinned the market. Funds bought 1.000 contracts. Weekly export inspections of US corn at 1,83 million tonnes were above trade forecasts that ranged from 1,0 to 1,6 million tonnes. Corn export inspections for the marketing year beginning Sept. 1 are at 37,51 million tonnes, up 30,5 percent from the same period last year. US exporters sold 120.000 tonnes of corn to Japan for delivery in 2024/25.
ICE canola futures contract months split Monday, with July weakening while November rose. Most-traded July canola gave up 10 cents to settle at $ 668,70 per tonne.
CBOT soybean futures closed mixed on Monday, with the nearby contracts ending lower on profit-taking while deferred, new-crop contracts firmed a bit. China’s soybean imports tumbled in March to their lowest for the month since 2008, customs data showed, as tariff-weary processors shied away from US soybeans and delays in Brazil’s harvest reduced shipments. Funds sold 1.000 contracts of soybeans, 2.500 contracts of soymeal and 5.500 contracts of soyoil. Weekly export inspections of US soybeans at 546.000 tonnes were in line with a range of trade expectations for 375.000 to 750.000 tonnes. Soybean export inspections for the marketing year beginning Sept. 1 are at 42,11 million tonnes, up 10,8 percent from the same period last year. Crude oil rose by 3 cents to $ 61,53.
Bron: Stigevo