Day by day Market Wire April 29, 2021

The markets retreated barely in a single day.

  • Chicago wheat July contract down 10c US / bushel to 722.75c;
  • Kansas wheat July contract down 14.75c / bushel to 696.5c;
  • Minneapolis wheat July contract down 15.25 c / bushel to 732 c;
  • MATIF September wheat contract down € 0.75 / t to € 226.75 / t;
  • July corn contract down 10.5 cents / bushel to 644;
  • July soybean contract down 5.75c / bushel to 1513.75c;
  • Winnipeg canola July contract down C $ 3.70 / t to $ 833.40;
  • August contract MATIF rapeseed down from € 1.50 / t to € 493.25 / t;
  • US greenback index down 0.3 to 90.6;
  • AUD firmer at US $ 0.778;
  • CAD firmer at $ 1,231;
  • EUR firmer at $ 1,212;
  • July contract on ASX wheat down $ 11.50 / t to $ 305.50 / t;
  • ASX January 2022 wheat down $ 12 / t to $ 315 / t.

Worldwide

Grains pulled out of the latest rally in a uneven in a single day buying and selling session, seeing Chicago shut a penny, KC -14 3/4 ¢, Minny -15 1/4 ¢ and Matif – € 0.75 on the earlier closing. Corn misplaced 10.5 ¢ and beans -5 3/4 ¢ (Matif – € 1.5, Winnipeg – $ 3.7). On the macro aspect, crude oil jumped one greenback to $ 63.8 WTI / $ 67.3 Brent and the DOW fell 165 factors. The USD weakened once more after the most recent FOMC statements reiterated their help for quantitative easing of the curve, hitting 90.6 on the dxy with the AUD at 77.8 ¢, the CAD $ 1.231 and the $ 1.212 EUR.

The US Federal Reserve supplied considerably extra optimistic indications in its FOMC assertion final night time, however confirmed no indicators of slowing the continuing quantitative easing program anytime quickly. The FOMC will meet once more in June.

Pretty calm in agricultural information, with markets specializing in the technical points of this rally and ongoing climate markets world wide.

The EIA’s weekly ethanol figures confirmed manufacturing very barely up at 945 mb / d, whereas inventories continued to say no (past 711 kb) as shares on the east coast and of the Gulf are declining, which most likely signifies extra exports from the Gulf.

Rainfall prospects have improved additional for the Japanese Cornbelt in america, with a widespread 2-3 ″ occasion now forecast. It must also cowl virtually all of the rising areas of SRW.

There’s nonetheless nothing on the maps of arduous crimson spring wheat areas in america and Canada.

In the meantime, the maps for the Brazilian safrinha areas stay very dry, with the most recent 2-week rounds eradicating among the odds of humidity flirting on the curve.

The Soufflet / Invivo merger appears like a deal struck with feedback from InVivo’s CEO asserting that they plan to finalize the phrases of the acquisition throughout the subsequent two weeks.

In keeping with Algeria’s OAIC in a single day wheat tender, commerce was round US $ 316 / t candf (outdated crop). If confirmed, it might imply there’s non-EU wheat within the combine, however most ought to nonetheless be EU loadings.

Australia

This rain occasion continues to depend on forecast maps, with the most recent runs growing the chances throughout WA of additionally protecting the northernmost wheat belt and enhancing the outlook on the east coast for a reasonably widespread inch over the forecast. for the districts of Wimmera and Mallee in Victoria and for central NSW.

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