Soybeans rise after 4-day slide, but harvest pressure caps gains
Wheat rises on disappointing winter wheat conditions
Corn trades sideways as U.S. harvest gets collected
Update prices, add analyst comments
JAKARTA, Oct 30 (Reuters) -Chicago soybean futures inched higher on Wednesday after a four-session slide, with prices supported by reports of lower exports from top exporter Brazil and higher European imports, although a strong U.S. soy harvest limited the gains.
Wheat futures edged higher, while corn traded sideways.
"The U.S. (soybean) crop may turn out bigger than expected. On top of this, we have oil prices sliding again globally, which keep a lid on soybeans," said Ole Houe, director of advisory services at IKON Commodities in Sydney.
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was up 0.31% at $9.82 a bushel, as of 0154 GMT. Wheat Wv1 gained 0.53% to $5.73-1/2 a bushel, while corn Cv1 was unchanged at $4.13-3/4 a bushel.
Soybean exports from Brazil in October were seen lower than the previous estimate, data from the country's grains exporter association ANEC showed.
Soybean imports by the European Union so far in the 2024/25 season had reached 3.78 million metric tons by Oct. 25, up 1% from a year earlier, data published by the European Commission showed on Tuesday.
The U.S. Department of Agriculture said earlier this week that the U.S. soybean harvest was 89% complete, ahead of the five-year average of 78%, though slightly below analyst expectations of 91% complete, with a record-large 2024 crop.
Wheat rose for a second straight session amid worries over disappointing winter wheat conditions in the United States as dry weather impeded planting.
"Wheat has found a bottom as global supply and demand is starting to shrink. We think that the recovery will continue for another day or two," Houe said.
Soft wheat exports from the European Union since the start of the 2024/25 season in July had reached 7.26 million tons by Oct. 25, down 33% from a year earlier.
Algeria's state grains agency OAIC has issued an international tender to buy soft milling wheat to be sourced from optional origins, European traders said.
Meanwhile, corn meandered as the last of U.S. harvest gets collected and demand is slow, Houe said.
Commodity funds were net buyers of CBOT corn, wheat and soyoil futures contracts on Tuesday, traders said. They were net sellers of soybean and soymeal futures contracts. COMFUND/CBT
Reporting by Bernadette Christina; Editing by Subhranshu Sahu
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
