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Time :2013 -09-26 08:03:00.0 Source: China Food Network

Keywords : Agricultural

CBOT corn futures closed up , even corn remain vulnerable to run


CBOT corn futures ended higher Wednesday , traders said, because wheat Jin driven up corn buying. CBOT wheat rose to a two-month high , due to concerns about Argentine wheat may be affected by frost , Chinese import demand is expected to increase. Data show that in December the contract is less than all of the key moving averages , relative strength index of 29 43.12 March corn contract rose 6 cents to $ 4.54-3 / 4.


Corn gains were limited as U.S. harvest activity accelerated , corn yields better than expected report and this year's corn crop could record highs . Crop estimates institutions Lanworth the 2013/ 14 global corn and soybean production forecast raised expectations that South American corn and soybean acreage larger .


Domestically, the 25th Dalian corn futures opened at 2332 yuan 1401 / ton, the highest price of 2332 yuan / ton, the lowest 2327 yuan / ton, the closing price of 2327 yuan / ton , down 9 yuan / ton. It is understood that on the 25th Guangdong port water quality maize Northeast mainstream transaction price of 2570-80 yuan / ton, higher offer 2600-2620 yuan / ton. Forecast by mid-October , Guangdong Hong Kong ship -intensive, port stocks have been restored, the tight supply situation will be eased , combined with the new grain market under pressure from recent transaction prices or downward. Technically, even the 1401 corn contract under pressure at 60 -day moving average and down to adjust the short term is expected to remain weak run .


CBOT wheat futures hit the highest since July , Tandi Zhengmai


CBOT wheat futures rose 1.8 percent Wednesday , hitting the highest over two months , traders said , aided by the hope of improving export prospects , and technical buying . Data show that , CBOT-12 July wheat futures settled at $ 6.70 , up 12-1/4 cents.


To frost may affect Argentine wheat production concerns , as well as China 's wheat imports are expected to increase , the U.S. wheat supply ignite the increased demand of hope. CBOT wheat was recorded in recent months, nearly a month to the largest single -day percentage gain , reaching the highest since July 16 . December wheat futures rose above the 20-day Bollinger bands at the top of the key resistance level, since May 3 for the first time since .


Analysts expect the U.S. Department of Agriculture will be announced on Thursday morning last week, exports in 2013/14 crop year wheat 50-70 million tons. Week before the old crop wheat export sales 704,400 tons . No new work is expected to last week's wheat exports .


Domestically, Zhou Sanjiang Mai 1401 contract fell the previous day 10 yuan / ton , or 0.35 percent , to close at 2,854 yuan / ton. 404 hand positions increased to 76,224 hands. Countries will be announced before the autumn and winter sowing and increase the minimum purchase price of wheat , the market expects prices will continue to rise. Technically, Zhengmai 1401 contract after dropping to 10 -day moving average rose to be supported , multi slight advantage , expected short-term pullback will likely continue to run up .


CBOT soybean futures ended higher, domestic beans continue rebound


CBOT soybean futures rose on Wednesday , traders said that in recent months, in November fell to one-month low after the previous contract , there are bargain-hunting buying emerged . Data show that in November soybean futures contract closed up 9-1/4 cents per bushel 13.21-3 / 4. December soymeal settled $ 4.8 , at $ 417.1 per short ton . December soybean oil contract was unchanged at 42.09 cents.


CBOT wheat and corn strong, but also led soybeans rose . Gains in the soybean meal market, the largest U.S. spot soybean market decline were not affected. In recent months, in October and December soymeal futures also hit a month from Tuesday lows .


U.S. Department of Agriculture said exporters sold 140,000 tons represents 2013/ 14 of U.S. soybeans for delivery to unknown destination name . Traders said these soybeans may be sold to China , China on Tuesday procurement soybean supply.


Crop estimates institutions Lanworth the 2013/14 global soybean harvest forecast raised to 284 million tons , estimated last week increased by 300 million tons. Lanworth Argentina soybean production is expected for 5,690 tons, Brazil's soybean production is estimated at 8,830 tons.


Domestically, Wednesday Soybean class continued rebound , but the rate is slowing down, by contrast , is still the leader Lianpo , prices high profit positions which emerge. Soybean remained relatively high and volatile movements, the pressure in the main 4600 contract re-appear . Soybean spot market day quote 20-50 yuan rose slightly last week, domestic oil refinery operating rates continue to decline slightly from the refineries start planning point of view, the operating rate is not expected before November there will be significant increase in short-term soybean supply situation still can not be effectively alleviated , will support the spot price .

Editor: Little America

 
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