Agricultural Commodities closed Wednesday’s trading session in the green territories. Wheat, Corn, and Soybean ended the session higher.
In weather space, the temperature is expected to be slightly above average across U.S. Central during next week.
In the Energy news, Oil prices reached their highest level so far for 2019 on Thursday as global markets tightened amid supply cuts led by OPEC and the U.S. government sanctions against Iran and Venezuela.
The U.S. WTI crude oil futures ended Wednesday’s session higher at 60.03 USD per barrel and remained flat in today’s session to trade at 60.0 USD a barrel at 10:00 GMT.
International Brent futures finished Wednesday in the green at 68.10 USD per barrel and rose on today’s session to trade at 68.15 USD a barrel at 10:00 GMT.
CBOT Wheat May futures ended Wednesday’s trading session higher due to a technical rebound. Wheat futures settled yesterday at 4.64-3/4 USD per bushel at the close, and currently trading higher at 4.65-3/4 USD a bushel at 10:00 GMT.
Analysts expect that USDA’s report would show wheat sales totaling between 11.0 million and 24.8 million bushels for the last week.
According to Reuters, Brazil’s government has agreed to import 27.5 million bushels of wheat from the U.S. and others without the usual 10 percent tariff attached to it. Brazilian and Argentinian farmers criticized the move.
In other news, Taiwan issued an international tender to purchase 4.0 million bushels of wheat from the U.S. for shipment in May or June.
Preliminary volume estimates were at 50,142 CBOT contracts, down another 41 percent from Tuesday’s final count of 85,047.
CBOT Corn May futures ended Wednesday’s session higher at 3.71-1/2 USD per bushel over some technical buying. Corn futures’ rose on today’s session to trade at 3.73 USD per bushel at 10:00 GMT.
Analysts expect that USDA’s report would show Corn sales totaling between 23.6 million and 51.2 million bushels for the last week.
According to Reuters, Ukraine’s 2018/19 corn exports until March 20 have reached 736 million bushels, significantly higher than exports from a year ago. The country’s total grain exports are expected to rise by 24 percent year-over-year.
Preliminary volume estimates were at 115,151 contracts, falling significantly below Tuesday’s final count of 278,990.
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