Agriculture Commodities ended Monday’s trading session on green notes, where Wheat, Corn, and Soybean settled the session up.
Regarding weather news, the temperature is expected to be above than average in Midwest and Plains in later this week.
In oil space, oil prices edged up on Monday boosted by supply cuts, where U.S Crude oil rose slightly to settle up at $59.06 a barrel while Brent oil rose to end higher at $67.24 a barrel.
On Tuesday, U.S Crude oil and Brent Oil both rose to trade at $59.33 and $67.50 a barrel respectively at 8:30 GMT.
CBOT Wheat May futures ended Monday’s trading session in the green at $4.69-1/4 per bushel, and it continued its gains on Tuesday to trade at $4.74 a bushel.
Wheat export inception totaled 12.5 million bushels last week; lower than the previous week by 1.7 million bushels.
Wheat export shipments met USDA’s expectations as it reached 13.2 million bushels.
According to Reuters, Saudi Arabia purchased 33.5 million bushels of fodder barley from a variety of origins, including the EU, Australia, North America, and South America, for shipment in May and June.
CBOT Corn May futures ended Monday’s session higher at 3.79-1/2 USD per bushel due to some light technical buying Corn futures’ rose on today’s session to trade at 3.79 USD per bushel at 9:00 GMT.
Corn export inspections reached 39.2 million bushels last week, moderately exceeding the prior week’s total of 31.6 million bushels and ahead of the average trade guess, which ranged between 27 million and 37 million bushels. Mexico was the number one destination, with 8.8 million bushels.
Preliminary volume estimates were for 228,287 contracts, tumbled by 45 percent from Friday’s final count of 415,903.
Pivot Point: 378.92
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.