ao link

US grain futures get slight lift from news US-China trade talks restarting in October

TwitterLinkedineCard

US grain futures prices were firmer in overnight trading, amid more upbeat trader attitudes after China’s commerce ministry said on Thursday that trade talks with the U.S. will restart in Washington, D.C. in October. U.S. trade officials confirmed high-level talks will take place at that time. There were notions earlier this week the China-U.S. trade war had escalated recently. As has been the case for months, this situation vacillates from one day to the next, depending on the latest rhetoric coming from the world’s two largest economies. Most grain market watchers are not optimistic a U.S.-China trade deal will be reached this year.

Corn was 2 to 3 cents higher, soybeans around 2 cents up and wheat about 5 cents higher.

The Allendale brokerage firm’s annual US acreage survey saw the corn yield at 167.71 bushels per acre, with the soybean yield at 46.13 bushels per acre. Total US production is estimated at 13.755 billion bushels for corn and 3.499 billion bushels for soybeans.

The grain futures are awaiting the start of the US soybean and corn harvests. There is still much uncertainty about the actual size of those US crops, following very late planting starts for both. Next week’s USDA monthly supply and demand report will give updates on the size of the US crops.

Weather in the Midwest continues to be non-threatening.

Also bearish is the strong US dollar on the foreign exchange market that makes US grains more expensive on the world market. The U.S. dollar index has backed off a bit late this week but is still no far below the 27-month high hit earlier this week.

TwitterLinkedineCard
Related Stories

Evening markets: Grains suffer touch of late-week profit taking

The likes of corn and wheat trade lower in closing deals of a positive week. But the vegetable oil complex, and canola, stay strong

Soybeans vs corn deadlock breaks in battle for acres

There has been some movement at last in the new soybeans-versus-corn price ratio, seen as an influence on sowing area. Cotton stakes its claim too

Weekly grain and oilseeds market view from Europe, April 16

UK wheat import needs to extend into early 2021-22... Cold European temperatures... "Rapeseed prices may be firm for a while"...

India's monsoon rains forecast to be average in 2021 - weather office

Monsoon rainfall is expected to total 98% of the long-term average, the Ministry of Earth Sciences says
Home | About | RSS | Commodities | Companies | Markets | Legal disclaimer | Privacy policy | Contact

Our Brands: Comtell | Feedinfo | FGInsight

© Agrimoney.com 2021

Agrimoney.com and Agrimoney are trademarks of Agrimoney Ltd
Agrimoney is part of AgriBriefing Ltd
Agrimoney Ltd is registered in England & Wales. Registered number: 09239069