World feed market on January 6, 2020: soybean prices rise

At 9:43 am on 06/01/2020 (Vietnam time), the price of soybeans in the US increased due to the activity of buying, recovering from the lowest level of nearly 2 weeks in the previous session, but the increase was limited by North American supply demand is in decline.

March soybean price on Chicago floor increased by 0.1% to 9.42-1 / 4 USD / bushel, closing the previous session by 1.5% to 9.37-1 / 2 USD / bushel , the lowest since December 24, 2019.

Corn price of March 2020 on Chicago increased by 0.1% to 3.87 USD / bushel, closing the previous session by 1.3% to 3.85-1 / 2 USD / bushel, the lowest since December 19, 2019.

Wheat futures price in March 2020 on Chicago floor dropped by 0.2% to 5.53-1 / 2 USD / bushel, sometimes touching 5.51 USD / bushel, the lowest since December 27 / 2019. Closing the previous session, down 1%.

The US Department of Agriculture said US soybean exports last week reached 332,047 tons, lower than the 350,000 tons to 1.05 million tons of analysts. China purchased 160,241 tons of delivery in 2019/20.

Traders are waiting for USDA crop production figures to be released on January 10, 2020, amid uncertainty about the size of the previous year's corn harvest due to the effects of cold weather and wet.

Weekly US corn export sales reached 539,991 tons, while wheat sales reached 333,250 tons.

Market is concerned about USDA will adjust its forecast of exporting agricultural products to China, after Washington and Beijing agreed to sign the first phase trade agreement this month.

The JPY hit a 3-month high on January 6, 2020, while the price of gold rose sharply due to increased tension between Iran and the US, prompting investors to buy bullion.

Source: VITIC / Reuters