Following are US trade expectations for the resumption of the grain and soya complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday. Wheat down 1 to 2 cents per bushel. Lower on technical selling and long liquidation. Ample global wheat supplies hang over the market. Concerns about crop losses due to drought in the northern Plains support MGEX spring wheat.
The US Commodity Futures Trading Commission's supplemental commitments report showed large speculators cut their net short position in CBOT wheat to 15,722 contracts in the week to July 11, the smallest net short since July 2015. CBOT September soft red winter wheat was last down 1-1/4 cents at $5.09-1/2 per bushel; K.C. September hard red winter wheat down 4 cents at $5.09-1/2; MGEX September spring wheat last up 6-1/4 cents at $7.64-1/4.
Corn down 1 to 2 cents per bushel. Lower on technical selling and long liquidation. Market underpinned by uncertainty about weather conditions as the US corn crop pollinates this month. The US CFTC's supplemental commitments report showed large speculators flipped to a net long position in CBOT corn in the week ended July 11, for the first time since March.
CBOT September corn was last down 1-1/2 cents at $3.74-3/4 per bushel, with new-crop December down 2 cents at $3.87-1/2. Soyabeans up 2 to 4 cents per bushel. Higher on technical buying and short-covering amid fluctuating US crop weather forecasts. The US CFTC's supplemental commitments report showed large speculators slashed their net short position in CBOT soyabeans to 23,985 contracts in the week to July 11. CBOT August soyabeans were last up 4 cents at $9.93 per bushel; new-crop November up 3-1/2 cents at $10.05.
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