Forex News Hubb
Advertisement
  • Home
  • Global Financial Market
  • Trading News
  • Contact us
No Result
View All Result
  • Home
  • Global Financial Market
  • Trading News
  • Contact us
No Result
View All Result
Forex News Hubb
No Result
View All Result
Home Trading News

Soy futures continue to rise?

admin by admin
December 12, 2022
in Trading News


The U.S. projection for larger global ending inventories dragged on Chicago soy futures, which continued to decline on Monday despite strong export demand and worries about the weather in South America. The most active soybean contract on the Chicago Board of Trade fell 0.8% to $14.71-1/4 a bushel, while wheat increased 0.8% to $7.40-1/2 and maize nearly held steady at $6.45-1/2.

The U.S. Department of Agriculture (USDA) raised its prediction of the world’s ending inventories of soybeans. Despite increased export demand and dry weather in Argentina, the world’s biggest producer, soy prices fell. The early South American crop, though, may benefit from recent rains.

Argentina’s soybean exports are hampered by growers’ reluctance to sell older crops as they attempt to predict how the fresh harvest will turn out. According to the Buenos Aires Grains Exchange, due to the consequences of the extended drought in the area, Argentina’s predicted area for soybeans in 2022–2023 may need to be reduced. Announced it will accept the transportation of Ukrainian wheat through its country for export from Lithuanian ports without constraints.

After the most recent Russian strike on the area’s energy infrastructure. The Ukrainian port of Odesa was shut down on Sunday. According to Agriculture Minister Mykola Solsky, who also noted that traders in grains were not anticipated to halt exports. With the leaders of Russia and Ukraine on Sunday. As both sides look to make adjustments that will increase their exports.

On Sunday, Ukrainian President Volodymyr Zelenskiy met with the presidents of Turkey and France as well as US President Joe Biden, increasing diplomatic activity surrounding the conflict that Russia initiated and is now in its tenth month.

China’s 2022 soybean production increases

According to dealers, commodity funds were net sellers of wheat, soyoil, and soybean futures on Friday and purchases of maize and soymeal futures contracts on the Chicago Board of Trade. As markets awaited a flurry of rate decisions from the U.S. Federal Reserve, the European Central Bank, and others at the beginning of a busy week, Asian shares declined and the dollar moved higher.

According to official figures released on Monday, China’s soybean crop for 2022 increased by about 24%. While corn and wheat production also saw modest growth. However, due to decreasing area, a severe drought. And high temperatures in southern China that reduced yields. Rice production decreased 2% to 208.5 million tonnes, according to the National Statistics Bureau.

Production of wheat increased 0.6% from the previous year to 137.72 million tonnes. Production of soybeans increased by 23.7% to 20.3 million tonnes as oil seed acreage increased by 21.7%.





Source link

Previous Post

Carv is a promising project. Don’t miss its hot token ARC

Next Post

Asian Stocks Fall

Next Post

Asian Stocks Fall

Recommended

An Entirely New Crypto Winter Began in 2022

December 23, 2022

Corn Barge Bids Decline

January 13, 2023

Don't miss it

Global Financial Market

GC 1923 Still in Play – Can Bulls Tag 2k?

January 26, 2023
Global Financial Market

Market Update – January 26 – BOC Pause, TESLA Beat, USD at Lows

January 26, 2023
Global Financial Market

Re-testing weekly highs, shy of the 20-DMA

January 26, 2023
Trading News

Wisdom of the Crowd Forex Trading Strategy

January 26, 2023
Trading News

Daily Market Outlook, January 26, 2023

January 26, 2023
Trading News

Can US Data Bring Back Risk Appetite

January 26, 2023

FOREX WHITE@8x (1)

© 2022 Forex News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Global Financial Market
  • Trading News
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Global Financial Market
  • Trading News
  • Contact us

© 2022 Forex News Hubb All rights reserved.