Chicago grains steady as U.S. election verdict awaited
Updates at 1227 GMT, changes dateline
PARIS/CANBERRA, Nov 5 (Reuters) -Chicago wheat, corn and soybean futures edged higher on Tuesday as investors braced for the outcome of the U.S. presidential election while also looking ahead to a U.S. interest rate decision and crop forecasts later this week.
A weaker dollar .DXY and a recent run of export sales for U.S. corn and soybeans were underpinning the market, though bumper U.S. corn and soybean harvests and improving conditions in dry winter wheat belts kept a lid on the market.
The most active wheat contract on the Chicago Board of Trade Wv1 was up 0.5% at $5.71-3/4 a bushel by 1227 GMT while CBOT soybeans Sv1 rose 0.2% to $9.99-1/4 a bushel and corn Cv1 ticked up 0.2% to $4.17-1/4 a bushel.
Financial markets are awaiting the result of Tuesday's U.S. presidential election, which looks too close to call after a turbulent campaign pitching ex-President Donald Trump against current Vice President Kamala Harris.
Trump's proposed tariffs are a particular focus for investors and could disrupt agricultural trade, as in his first term in office.
"We can expect lots of volatility through the end of the week as votes are counted and as we approach Thursday's Fed decision and Friday's WASDE report," Peak Trading Research said.
In two other major fixtures for markets, the U.S. Federal Reserve will announce its latest interest rate decision at the end of a policy meeting on Thursday. That is followed by the U.S. Department of Agriculture's monthly World Agricultural Supply and Demand Estimates (WASDE) on Friday.
Traders are waiting to see how the USDA factors in the recent wave of export demand into its projections for U.S. corn and soybean supply.
Exporters struck deals to sell 150,000 metric tons of U.S. corn to Mexico, 120,000 metric tons of U.S. corn to unknown buyers and 132,000 metric tons of U.S. soybeans to unknown buyers, the USDA said on Monday via its daily reporting system.
In a separate report on Monday, the USDA said 41% of the recently seeded U.S. wheat crop was in good-to-excellent condition as of Sunday, an improvement from the previous week but still the second-lowest score on record.
Wheat traders were also assessing results from an import tender held by Egypt on Monday, in which state grains buyer GASC bought 290,000 tons of wheat.
Russian wheat was overlooked, with an export price floor appearing to make the origin less competitive, as GASC booked supplies from elsewhere in the Black Sea region.
Prices at 1227 GMT | |||
Last | Change | Pct Move | |
CBOT wheat Wv1 | 571.75 | 3.00 | 0.53 |
CBOT corn Cv1 | 417.25 | 0.75 | 0.18 |
CBOT soy Sv1 | 999.25 | 2.00 | 0.20 |
Paris wheat BL2Z4 | 214.00 | 0.25 | 0.12 |
Paris maize EMAc1 | 195.00 | 0.00 | 0.00 |
Paris rapeseed COMc1 | 510.50 | -5.50 | -1.07 |
WTI crude oil CLc1 | 71.84 | 0.37 | 0.52 |
Euro/dlr EUR= | 1.09 | 0.00 | 0.17 |
Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton | |||
Reporting by Gus Trompiz in Paris and Peter Hobson in Canberra
Editing by Sumana Nandy, Rashmi Aich and David Goodman
Berita Terbaru
Pengungkapan: Entitas XM Group menyediakan layanan khusus eksekusi dan akses ke Fasilitas Trading Online kami, yang memungkinkan Anda untuk melihat dan/atau menggunakan konten yang tersedia pada atau melalui situs, yang tidak untuk mengubah atau memperluas, serta tidak mengubah atau memperluas hal tersebut. Akses dan penggunaan ini selalu sesuai dengan: (i) Syarat dan Ketentuan; (ii) Peringatan Risiko; dan (iii) Pengungkapan Penuh. Oleh karena itu, konten disediakan hanya sebagai informasi umum. Anda juga harus ketahui bahwa konten Fasilitas Trading Online kami bukan sebagai ajakan atau tawaran untuk untuk melakukan transaksi apa pun di pasar finansial. Trading di pasar finansial mana pun melibatkan tingkat risiko yang signifikan pada modal Anda.
Semua materi yang diterbitkan di Fasilitas Trading Online kami hanya untuk tujuan edukasi/informasi dan tidak boleh mengandung nasihat dan rekomendasi finansial, pajak investasi atau trading, catatan harga trading kami, penawaran, permintaan, transaksi dalam instrumen finansial apa pun atau promo finansial untuk Anda yang tidak diminta.
Konten pihak ketiga apa pun, serta konten yang disiapkan oleh XM, seperti opini, berita, riset, analisis, harga, informasi lain atau link ke situs pihak ketiga yang tersedia "sebagaimana adanya", sebagai komentar pasar umum dan bukan menjadi nasihat investasi. Sejauh konten apa pun ditafsirkan sebagai penelitian investasi, Anda harus memperhatikan dan menerima bahwa konten tersebut tidak dimaksudkan dan belum disiapkan sesuai dengan persyaratan hukum yang dirancang untuk mempromosikan kemandirian riset investasi dan dengan demikian akan dianggap sebagai komunikasi pemasaran di bawah hukum dan peraturan yang relevan. Mohon dipastikan bahwa Anda telah membaca dan memahami Notifikasi pada Riset Investasi Non-Independen dan Peringatan Risiko kami mengenai informasi di atas, yang dapat diakses disini.
