Commodity Market Report, 12th of March 2019

ZW Intradía

CBOT Wheat May futures ended Monday’s session lower, to settle at 4.28-1/4 USD per bushel amid renewed funding selling over rising U.S. stocks. Furthermore, prices went slightly up on today’s session and are currently trading at 4.31-1/2 per bushel at 10:00 GMT. In the monthly supply and demand report, the USDA forecast larger U.S. Wheat supplies, lower exports, reduced domestic use, and higher ending stocks for 2018/19 marketing year. In export news, European Union Soft Wheat for 2018/19 reached 458 million bushels as of March 10th, trending 10.7 percent lower year-over-year. EU barley exports are also down by 22.1 percent over the same period, reaching 147 million bushels. Preliminary volume estimates were at 80,039 CBOT contracts, lower than Friday’s final count of 133,612 contracts.

Resistencia R1
437.584
R2
446.667
R3
451.334
Apoyo S1
423.834
S2
419.167
S3
410.084

Punto de pivote: 432.917

ZC Intradía

CBOT Corn May futures ended Monday’s session lower at 3.61-3/4 USD per bushel on trade concerns and spillover weakness from other grains. Soybeans futures traded at $3.63 per bushel today at 10:00 GMT. European Union corn imports for 2018/19 have reached 676 million bushels as of March 10th, trending 42 percent higher year-over-year. Preliminary volume estimates were at 196,046 contracts, lower than Friday’s final count of 386,854.

Resistencia R1
365.416
R2
369.083
R3
371.166
Apoyo S1
359.666
S2
357.583
S3
353.916

Punto de pivote: 363.333

ZS Intradía

CBOT Soybean May futures ended Monday’s session lower at 8.89-3/4 USD per bushel, extending losses despite newly confirmed large purchases from China. Soybeans futures traded at 8.90-1/4 USD a bushel today at 10:00 GMT. In export news, export sales failed to boost CBOT soybean futures, said analysts, as market participants still await the outcome of the U.S.-China trade talks. Preliminary volume estimates were at 82,991 contracts, lower than Friday’s final count of 172,912 contracts.

Resistencia R1
895.916
R2
902.083
R3
905.416
Apoyo S1
886.416
S2
883.083
S3
876.916

Punto de pivote: 892.583

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