Agriculture commodities ended Wednesday’s trading session in the red territories, Grains futures are suffering for the second session in a row.
In weather news, the temperatures are expected to be above than normal average for the next week but it may be cooler through this weekend in U.S. parts of the Midwest and Plains.
In oil space, oil prices fell during Yesterday’s trading session to end the session down at $59.39 a barrel while Brent oil closed lower at $67.82 per barrel.
Both contracts continued their losses to on today’s trading session to trade lower at $58.92 and $67.32 a barrel respectively at 08:45 GMT.
CBOT Wheat May Futures ended Wednesday’s session in the red at $4.69-1/2 per bushel, and it declined on Thursday to trade down at $4.62-1/4 a bushel at 09:45 GMT.
Analysts expect that USDA will report the wheat sales would record between 11.0 million bushels and 23.9 million bushels for the week ending March 21.
According to Reuters, Russia’s grain exports for 2018/19 have fallen 5.2% from a year ago, according to the country’s ministry of agriculture, which estimates it will export between 1.323 billion and 1.360 billion bushels of wheat this marketing year.
CBOT Corn May futures ended Wednesday’s session in the red at $3.73-3/4 a bushel, and it continued its losses to trade down at $3.72-1/2 a bushel on today’s session at 10:00 GMT.
Analysts expect that USDA will report the Corn sales would record between 27.6 million bushels and 53.1 million bushels for the week ending March 21.
Trading volumes of Corn Contract reached 213,363 contracts on Wednesday, lower by 30% from Tuesday’s final count of 305,650.
CBOT Soybean May ended Wednesday’s session in the red at $8.87-3/4 a bushel, and it's increased on today’s session to trade higher at $8.88-1/2 a bushel at 10:00 GMT.
Analysts expect that USDA will report the Soybean sales would record between 18.4 million bushels and 36.7 million bushels for the week ending March 21.
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