Grains lower on weak exports

Agricultural Commodities prices were lower on Friday’s session as the tension in the middle east and below expectations export report pushed grains prices significantly lower with some contracts losing as much as 2 percent.

In weather space, The latest forecasts report from NOAA showed much warmer-than-normal temperatures expected east of the Mississippi River, while cooler weather should prevail further west.

In energy space, oil prices surged on Friday’s session a tension escalated between Iran and the U.S after the later conducted an operation killing the high ranked general Qassim Sulimani.

On today’s session future contracts were also significantly higher as the  U.S. State Department warned of a “heightened risk” of missile attacks near military bases and energy facilities in Saudi Arabia. 

WTI oil contracts for February ended the session 3 percent higher to settle at 63.01 and currently trading at 64.31at 05:00GMT.

Moreover, Brent futures were also higher ending the session at 68.61 and currently trading at 70.20 05:00 GMT.

 

 

Wheat

CBOT Wheat March futures declined on Friday’s session pressured by USDA’s weekly report to settle at 5.54-1/2 USD per bushel. Prices were lower on today’s session and are currently at 5.53-1/4 USD per bushel at 05:00 GMT.

In exports news, Wheat export sales declined significantly last week, tumbling 56 percent to 11.5 million bushels, which was 46 percent below the prior four-week average.


Wheat export shipments were also down 33 percent from a week ago and 18 percent below the prior four-week average, with 12.5 million bushels.

Preliminary volume estimates came at 88,975 CBOT contracts, higher than Thursday’s final tally of 81,215.

Corn

CBOT Corn March futures fell on Friday’s session pressure by a round of technical selling and spillover weakness from other grains close at 3.86-1/2 USD per bushel. Corn futures prices traded are currently trading at 3.87-1/2 USD at 05:00 GMT.

Corn export sales were down 15 percent landing 43 percent below the prior four-week average after reaching 20.9 million bushels. Inline with analysts estimates which ranged between 11.8 million to 30.5 million bushels.

Corn export shipments came at 17.6 million bushels, 35 percent higher than the prior week’s tally but still 14 percent below the prior four-week average.

Preliminary volume estimates came at 194,432 contracts, above Thursday’s final count of 153,585.

 

Soybean

CBOT Soybean March futures prices fell on Friday as after weak exports data kicked off a round of technical selling. Soybean futures finished Monday’s session at 9.41-1/2 USD per bushel, and currently trading at 9.41 USD per bushel.

 

In export news, Soybean exports dropped 55 percent below the prior weeks’ tally and 66 percent below the prior four-week average.

Soybean export shipments were better, with 39.6 million bushels. 7 percent better than the prior week’s total but still 20 percent below the prior four-week average.

Preliminary volume estimates came at 173,276 contracts, above Thursday’s final count of 148,569.

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