Connect with us
Wheat and corn markets were lower for the week in response to negative USDA reports.
Higher wheat prices are expected in the next few weeks. Meanwhile, soybean and soybean meal rally on talks of new purchases from China.
President Donald Trump's tweet about meeting with Chinese President Xi triggered a rally among rice, cotton and soybean on prospects of better trade deals.
U.S. export demand for cotton has been poor in the last few weeks, while Vietnam is gearing to harvest its coffee but needs to free up...
USDA report showed higher-than-expected quarterly and annual wheat production, sending the wheat markets lower for the week. Vegetable oils edged higher.
Coffee futures are under selling pressure on ideas of strong production. Wheat and corn edged higher for the week while other crops were lower.
Cocoa, palm oil, rice, cotton, frozen concentrated orange juice, coffee and sugar prices were lower for the week while wheat, corn and soybean edged higher.
Wheat and soybean closed lower last week following the latest USDA reports while sugar was also down on prospects of huge world production.
Coffee futures closed strong on daily and weekly charts in New York and held support on weekly charts in London.
Corn rallies are looking optimistic, closing strong on weekly export sales. US cotton futures are weak owing to bad crop conditions.