Wheat ticks up after deep losses; improved weather limits gains
Wheat futures firm after biggest one-day drop since mid-July
Improved U.S., Russian weather; lack of demand weigh on prices
Adds quote in paragraph 3, updates prices
By Naveen Thukral
SINGAPORE, Oct 21 (Reuters) -Chicago wheat inched up Monday, with bargain buying supporting prices, after the market suffered in its biggest daily loss in more than three months in the previous session on expectations of improved weather in key growing areas.
Soybeans ticked higher, recouping some of Friday's losses while corn firmed.
"It is combination of two factors which pressured prices. There is improved weather in Russia and U.S. for wheat planting and demand is pretty subdued," a Singapore-based grains trader said. "Buyers are not active in the market as they are looking at a big crop from Australia despite some damage from dryness."
The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 rose 0.2% to $5.74 a bushel, as of 0406 GMT, having lost on Friday 2.8%, the biggest one day drop since mid-July.
Soybeans Sv1 added 0.5% to $9.75 a bushel, having dropped 2% on Friday and corn Cv1 gained 0.1% at $4.05-1/4 a bushel.
The return of rain to parched wheat areas in southern Russia and the central United States have eased worries about dryness hampering plantings for the 2025 crop, though drought was still seen as a risk.
Persistent dry weather in southern regions of Australia that suffered frost damage last month is depressing wheat yields but the country could still produce an above-average harvest, analysts said on Friday.
A shift in Russian export policies fuelled concerns that U.S. commercial grain companies will be left holding large supplies of wheat, weighing on prices.
Russian grain exporters will sell directly to sovereign buyers, while non-Russian winners of international tenders will receive Russian grain only if they have long-term off-take agreements with Russian firms, the Grain Exporters Union said on Friday.
France's maize harvest fell further behind its usual pace last week, data showed on Friday, as heavy rain continued to hamper field work in the European Union's biggest grain producer.
Large speculators increased their net short position in Chicago Board of Trade corn futures in the week to Oct. 15, regulatory data released on Friday showed.
The Commodity Futures Trading Commission's weekly commitments of traders report also showed that noncommercial traders, a category that includes hedge funds, trimmed their net short position in CBOT wheat and increased their net short position in soybeans.
Reporting by Naveen Thukral; Editing by Rashmi Aich
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.
