Wheat jumps over 2% as market recovers from near 5-month low
SINGAPORE, July 7 (Reuters) - Chicago wheat futures rose more than 2% on Thursday, with prices climbing for the first time in six sessions, supported by bargain-buying and concerns over lower Black Sea supplies.
Corn and soybeans gained more than 1%.
* The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 added 2.3% to $8.23 a bushel, as of 0039 GMT, after dropping to its lowest since Feb. 17 at $7.85 a bushel on Wednesday.
* Corn Cv1 rose 1.5% to $5.93-1/4 a bushel and soybeans Sv1 gained 1.3% at $13.40-1/2 a bushel.
* French consultancy Agritel expects war-hit Ukraine to harvest 21.8 million tonnes of wheat this summer compared to a record 32.2 million collected last year, it said on Wednesday.
* The estimate for the 2022/23 season was based on an expected harvested area of 5.8 million hectares, down from 6.7 million hectares initially sown by farmers, said Agritel, which is part of commodity pricing group Argus.
* For corn and soybeans, traders are also keeping an eye on U.S. crop weather. The U.S. Department of Agriculture, in a daily weather report, said rain showers and thunderstorms from Nebraska to Ohio were greatly benefiting fields.
* The agency, in a separate weekly report issued on Tuesday, rated 64% of the corn crop as good to excellent as of Sunday, down 3 percentage points from the previous week. Analysts surveyed by Reuters on average had expected a two-point decline.
* Commodity funds were net sellers of CBOT wheat and soyoil futures contracts on Wednesday, and net buyers of corn, soybeans and soymeal futures, traders said. COMFUND/CBT
* Wall Street ticked upward while oil continued to slide on Wednesday as investors juggled concerns over inflation versus a recession after Federal Reserve minutes showed officials rallied around a large rate hike at their June meeting.
DATA/EVENTS (GMT) 0130 Australia Trade Balance G&S
May 0600 UK
Halifax House Prices MM June 0600 Germany
Industrial Output MM
May 0645 France
Reserve Assets Total
June 1230 US
May 1230 US
Initial Jobless Clm
Reporting by Naveen Thukral; Editing by Rashmi Aich
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。