Commodity Market Report, 26th of March 2019

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.

ZW Intradía: up trend

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.

Resistencia R1
473.084
R2
476.917
R3
481.834
Apoyo S1
464.334
S2
459.417
S3
455.584

Punto de pivote: 468.167

ZC Intradía: up trend

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.

Resistencia R1
381.084
R2
382.667
R3
384.834
Apoyo S1
377.334
S2
375.167
S3
373.584

Punto de pivote: 378.917

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