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PARIS/SINGAPORE– Chicago wheat futures edged higher on
Friday, staying on course for a 2nd weekly gain as harvest obstacles in
The United States And Canada, Russia and western Europe raised issue over tightening up export
Corn was little bit altered while soybeans ticked up as market individuals
evaluated crop weather report revealing both rain relief and hotter weather condition in
the U.S. Midwest in the coming days.
Attention in grain markets was moving towards next week’s U.S. Department
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of Farming( USDA) month-to-month supply and need outlook.
Financiers were likewise waiting for month-to-month U.S. tasks information.
The most active wheat agreement on the Chicago Board of Trade was up
0.7%at $7.18 a bushel by1208 GMT.
“The supply of wheat is ending up being tighter and tighter,” Commerzbank experts
stated in a note.
U.S. and Canadian farmers are bracing for a dramatically smaller sized spring wheat
harvest since of the driest conditions in years while experts have actually minimized
Russian harvest approximates due to the fact that of frustrating yields and an authorities
modification to the planted location.
Heavy summertime rain, on the other hand, has actually postponed collecting in parts of Europe and
was triggering problems with grating quality in France.
“Harvesting is making just slow development in numerous locations,” Commerzbank
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CBOT corn was up 0.1 %at$ 5.53 -3/ 4 while soybeans included 0.7 %to
$1337 -3/ 4.
Increased weekly corn exports and a flash everyday export sale of soybeans,
both reported on Thursday, provided some assistance to futures, though there were
wider issues about the effect on need from the spread of the Delta
The U.S. corn market stayed underpinned by decreasing potential customers for the
2nd corn crop in competing exporter Brazil.
Rates at 1208 GMT
Last Modification Pct End Ytd Pct
Move 2020 Move
CBOT wheat 718.00 5.25 0.74640.5012.10
CBOT corn 553.75 0.75 0.14484.0014.41
CBOT soy 1337.75 9.25 0.701311.00 2.04
Paris wheat Sep 226.75 1.75 0.78192.5017.79
Paris maize Nov 212.75 2.00 0.95219.00 -2.85
Paris rape Aug 541.50 2.00 0.37418.2529.47
WTI petroleum 69.86 0.77 1.1148.5243.98
Euro/dlr 1.18 0.00 -0.22 1.2100 -2.43
Most active agreements– Wheat, corn and soy United States cents/bushel, Paris
futures in euros per tonne
(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore
Modifying by Rashmi Aich and David Goodman
Extensive reporting on the development economy from The Reasoning, gave you in collaboration with the Financial Post.
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