Wheat jumps to 1-week high on Russia-Ukraine conflict



SINGAPORE, Sept 29 (Reuters) - Chicago wheat futures rose for a third consecutive session on Thursday, hitting their highest in almost a week, as the Russia-Ukraine war and adverse weather in key exporting countries underpinned prices.

Corn prices were largely unchanged, while soybeans ticked higher.

FUNDAMENTALS

* The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 added 0.3% to $9.05-1/2 a bushel, as of 0013 GMT, after climbing more than 3% on Wednesday.

* Corn Cv1 was flat at $6.70-1/2 a bushel and soybeans Sv1 added a quarter of a cent at $14.09 a bushel.

* Escalating conflict between top grain exporters Russia and Ukraine raised concerns over supplies from the Black Sea region.

* Russia is poised to annex a swath of Ukraine after what Kyiv and the West denounced as illegal sham referendums held at gunpoint.

* Ukraine's grain exports are down 41.5% year-on-year in the 2022/23 season so far at almost 8 million tonnes, but the pace of shipments is increasing gradually, agriculture ministry data showed on Wednesday.

* The country's grain exports have slumped since Russia invaded in February because its Black Sea ports were closed off, driving up global food prices and prompting fears of shortages in Africa and the Middle East.

* Dry conditions persist in the southern U.S. Plains, inhibiting the planting of the 2023 winter wheat crop, while the harvest pace has lagged in parts of Canada.

* In Manitoba, the fall harvest was only 47% complete, behind the five-year average of 79%, the provincial government said in a weekly report. GRO/MBA

* In South America, the Buenos Aires grains exchange projected that Argentine wheat production would fall nearly 22% from a year ago to 17.5 million tonnes due to drought.

* Bearish weekly U.S. ethanol data provided headwinds to corn prices. The U.S. Energy Information Administration said weekly production of corn-based ethanol fell last week to 855,000 barrels per day, a 19-month low, while stockpiles rose to 22.691 million barrels. EIA/S

* The market awaits direction from the U.S. Department of Agriculture's quarterly U.S. grain stocks and annual small grains reports, both due on Friday.

* Brazilian soybean processors have temporarily halted units as crushing margins turned negative, reflecting weak domestic demand for biodiesel and high vegetable oil inventories.

* Commodity funds were net buyers of CBOT wheat, corn and soybean futures contracts on Wednesday and net sellers of soyoil and soymeal futures, traders said. COMFUND/CBT

MARKET NEWS

* Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2% -- as the Bank of England said it would step in to the bond market in an attempt to dampen investors' fears of contagion across the financial system.

DATA/EVENTS 0900 EU

Consumer Confid. Final Sept 1200 Germany CPI Prelim YY

Sept 1200 Germany HICP Prelim YY

Sept 1230 US

GDP Final

Q2 1230 US

Initial Jobless Clm

Weekly
Reporting by Naveen Thukral; Editing by Subhranshu Sahu

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。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明