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VINIMEX are pleased to update market news on May 07 , 2019 as below.

Admin - 07/05/2019

COMMODITY MARKET MOVEMENT ON CBOT – May 06 , 2019 .

COMMODITY

CODE

LAST

CHANGE

%Change

VOLUME

LOW

HIGH

WHEAT

ZWN19

437.25

-0.75

-0.17%

45,547

428.0

439.5

CORN

ZCN19

364.25

-6.5

-1.75%

225,462

355.5

365.0

SOYBEAN

ZSN19

830.25

-12.0

-1.42%

144,094

816.75

834.0

SBM

ZMN19

296.6

-1.6

-0.54%

65,468

293.2

297.8

 

Weather : Daytime highs across the central U.S. will clock in cooler than normal for the rest of this week into the weekend. The Midwest and Plains are also bracing for a relatively wet week ahead, with many areas expecting another 2” to 3” of additional rainfall through May 13, per the latest 7-day cumulative precipitation map from NOAA.

General : Uncertainty over U.S.-China trade negotiations, plus increased production potential from Brazil, sent soybean futures tumbling double digits to start the week. Corn also trended significantly lower today amid expectations spring planting progress is finally gaining some momentum, with wheat coming in mixed amid some light technical maneuvering.South Korea purchased 2.8 million bushels of wheat from the U.S. in deals that closed late last week. The grain is for shipment starting in August.

SOYBEAN

Meal futures were down $1.80/ton with May soy oil 23 points lower. Monday afternoon’s Crop Progress report showed US soybean acres were 6% planted by Sunday, below most estimates. That is compared to 14% last year and the 5-year average. US exporters shipped 600,441 MT of soybeans in the week ending May 2 according to Export Inspections data. That was a 18.36% jump from last week and 12.24% larger than the same week in 2018. Of the total 135,194 MT (22.5%) was headed to China, with unshipped sales to China as of 4/25 totaling 59.1% of the total outstanding sales to all destinations.

 

 

CORN

 

Traders have been thinking corn, DDGs, ethanol, or sorghum will be part of a trade agreement. The weekly Crop Progress report indicated that 23% of the US corn crop has been planted as of Sunday, a move of just 8% from last week. That is 13% behind last year, and just half of the 5-year average. IL is just 10% planted, lagging the average by 56%, with IN 3% complete and SD still at 0%. The US crop is 6% emerged, vs. the 13% average. This morning’s Export Inspections report from USDA showed shipments of just 976,842 MT in the week of 5/2. That was down 28.52% from last week and 48.55% below the same week last year.

 

WHEAT

 

After the close, NASS showed that 29% of the winter wheat crop was headed as of 5/5, below the 41% average. Conditions were reported at 64% gd/ex, UNCH from last week but down 3 points on the Brugler500 index at 366 points. The spring wheat crop was just 22% planted, well below the 49% average and shy of estimates. Export inspections of all wheat in the week of May 2 totaled 477,918 MT according to USDA. That was a drop of 26% from the week prior but 43.91% larger than the same week last year.


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