Wheat jumps 1%, rising for 2nd session on strong demand
SINGAPORE, July 18 (Reuters) -Chicago wheat futures gained more ground on Thursday with rising demand from importers underpinning the market, which dropped to its lowest in four months earlier this week.
Corn and soybeans ticked higher, although gains were limited due to expectations of favourable crop weather in the U.S. Midwest.
FUNDAMENTALS
* The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 added 1.1% to $5.45-1/4 a bushel, as of 0014 GMT, having dropped on Tuesday to $5.25 a bushel, the lowest since March 11.
* Corn Cv1 rose 0.2% to $4.12-3/4 a bushel and soybeans Sv1 gained 0.2% at $10.43 a bushel.
* The wheat market is rebounding amid a flurry of global export deals.
* Algeria's state grains agency bought about 600,000 metric tons of milling wheat in an international tender. And Egypt's state buyer booked 770,000 metric tons of mostly Russian wheat on Tuesday, its biggest single purchase since 2022.
* Asian wheat buyers, meanwhile, have stepped up purchases in recent weeks, taking cargoes from the Black Sea region.
* CBOT corn and soybean have inched higher but generally favourable crop weather in the Midwest hung over the market, capping gained.
* Ukraine's grain exports in the 2024/25 July-June season rose to almost 2 million metric tons by July 17 from 1.3 million tons at the same date a season earlier, agriculture ministry data showed on Wednesday.
* Germany's 2024 wheat crop will fall 6.2% on the year to 20.2 million metric tons, the country's association of farm cooperatives said in its latest harvest estimate on Wednesday, maintaning its forecasts for a reduced crop this summer.
* Commodity funds were net buyers of CBOT wheat, corn and soymeal futures contracts on Wednesday, net sellers of soyoil futures and net even in soybeans, traders said. COMFUND/CBT
MARKET NEWS
* Global equity indexes mostly fell on Wednesday as possible U.S. trade curbs on chip equipment pulled tech stocks lower, while Treasury yields and the dollar both hit four-month lows as Federal Reserve officials indicated the central bank was getting closer to cutting interest rates. MKTS/GLOB
DATA/EVENTS (GMT)
0600 UK Claimant Count Unem Chng June
0600 UK ILO Unemployment Rate May
0600 UK HMRC Payrolls Change June
1215 EU ECB Refinancing Rate July
1215 EU ECB Deposi Rate July
1230 US Initial Jobless Clm Weekly
1230 US Philly Fed Business Indx July
Reporting by Naveen Thukral; Editing by Alan Barona
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
