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VINIMEX are pleased to update market news on Jun 21 , 2019 as below.

Admin - 21/06/2019

COMMODITY MARKET MOVEMENT ON CBOT – Jun 20, 2019.

COMMODITY

CODE

LAST

CHANGE

%Change

VOLUME

LOW

HIGH

WHEAT

ZWN19

526.5

+4.25

+0.81%

40,879

515.5

529.0

CORN

ZCN19

450.0

+9.0

75

+2.04%

176,575

436.5

450.75

SOYBEAN

ZSN19

915.5

+12.25

+1.36%

125,043

896.5

917.5

SBM

ZMN19

323.0

+6.1

+1.92%

44,953

314.1

323.7

 

Weather: Wet weather is probable for the central third of the country this coming week, per the latest seven-day cumulative precipitation map from NOAA. Large portions of Kansas, Missouri, Iowa, Illinois and Indiana could see another 2” or more total rainfall through June 27. Temperatures are still expected to be slightly below normal for much of the Midwest and Plains at least through early next week.

 

General : Grain prices saw a round of profit-taking yesterday and were still sinking moderately lower in overnight trade. But fresh worries about late-planted crops and yield potential on the heels of the latest wet weather forecasts helped push grains forward once again Thursday. Corn tacked on more than 2%, with soybeans up around 1.25% in the session. Winter wheat prices caught moderate gains as well, due to technical buying spurred by spillover strength from other grains. Japan purchased 2.3 million bushels of food-quality wheat from the U.S. in a regular tender early today.

SOYBEAN

Forecasts for rains are threatening to slow an already delayed planting season. A private export sale of 189,000 MT of soybeans were reported to unknown destinations by the USDA this morning. The sale was spilt between 18/19 (126,000 MT) and 19/20 (63,000 MT). This morning’s Export Sales report showed old crop soybean bookings above the top end of estimates at 571,512 MT. That was an 8-week high and more than double the same week last year. New crop sales totaled 200,027 MT in the week of June 13. Old crop soybeans export commitments now lag last year by 15.7%. Meal sales were tallied at 147,328 MT, with soy oil sales at 4,435 MT.

 

CORN

 

USDA reported a flash sale of 122,000 MT of corn to Mexico this morning, with 52,000 MT for 18/19 and 70,000 MT for 19/20. The weekly Export Sales report indicated that just 38,402 MT of old crop corn was sold in the week of 6/13, well below the range of estimates. New crop bookings totaled 360,834 MT, the third largest this MY and in the middle of expectations. Total US export commitments for 18/19 are now 14.1% below the same time last year at this point. A total of 1.832 MMT of corn was sold form Chinese state reserves at an auction on Thursday, 46.11% of the amount offered.

 

WHEAT

 

Gains in corn and soybeans were supportive, as well as weakness in the US dollar. USDA reported just 187,567 MT of 19/20 wheat export sales in the first full week of the new MY (week ending 6/13). With the large carry over in forward sales, commitments are already 27% larger than this time in 2018. Japan purchased a total of 61,864 MT of US wheat in this week’s MOA tender.


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