Commodity Market Report

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.

ZW Intradía: up trend

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.

Resistencia R1
605.34
R2
641.17
R3
710.59
Apoyo S1
500.09
S2
430.67
S3
394.84

Punto de pivote: 535.92

ZC Intradía: up trend

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.

Resistencia R1
376.41
R2
379.08
R3
381.41
Apoyo S1
371.41
S2
369.08
S3
366.41

Punto de pivote: 374.08

ZS Intradía: down trend

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.

Resistencia R1
897
R2
906.25
R3
912
Apoyo S1
882
S2
876.25
S3
867

Punto de pivote: 891.25

© Copyright 2019 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.