Overnight Market News
eCBOT is a little steadier on ideas that last night's losses may have been overdone a tad. Last night's close and the latest eCBOT prices are available on the right.
China will continue to support it's own domestic farmers by buying a further 2.5mmt of corn for government stockpiles in Heilongjiang province, according to reports.
Rains have finally arrived in Argentina, but may be too late to save some corn & soybean crops in the area, with up to 40% of corn and 20% of soybeans "beyond help" according to some reports.
There are quite a few tenders around with South Korea buying 165,000mt each of optional origin corn and wheat yesterday. Bunge sold the wheat.
Egypt is looking for at least 55,000mt wheat and Japan is expected to buy 128,000mt of the grain tomorrow, the majority being US origin.
Pakistan has bought 172,500mt of optional origin wheat, and may buy more ahead of the weekend.
Drought is said to be seriously threatening the Chinese wheat crop with water levels running at 50-year lows. Red-alerts have been issued in at least two provinces in the north of the country.
China will continue to support it's own domestic farmers by buying a further 2.5mmt of corn for government stockpiles in Heilongjiang province, according to reports.
Rains have finally arrived in Argentina, but may be too late to save some corn & soybean crops in the area, with up to 40% of corn and 20% of soybeans "beyond help" according to some reports.
There are quite a few tenders around with South Korea buying 165,000mt each of optional origin corn and wheat yesterday. Bunge sold the wheat.
Egypt is looking for at least 55,000mt wheat and Japan is expected to buy 128,000mt of the grain tomorrow, the majority being US origin.
Pakistan has bought 172,500mt of optional origin wheat, and may buy more ahead of the weekend.
Drought is said to be seriously threatening the Chinese wheat crop with water levels running at 50-year lows. Red-alerts have been issued in at least two provinces in the north of the country.
