World animal feed market on September 18, 2019: Corn prices rise

Corn prices in the US on September 18, 2019 increased, recovering from a decline of more than 1.5% in the previous session, but the increase was limited by weakening oil prices and weather forecasts across key growing areas. North America improved.

Corn futures prices on the Chicago floor increased 0.5% to US $ 3.69-3 / bushel, closing the previous session down 1.6%.

Price of soybean futures on Chicago floor increased by 0.1% to 8.94-1 / 2 USD / bushel, closing the previous session down 0.7%.

Wheat futures on Chicago floor increased 0.2% to 4.85 USD / bushel, closing the previous session down 0.9%.

Corn prices rose due to a sharp increase in oil prices following the Saudi attack, prompting investors to expect ethanol demand to rise.

USDA said private exporters sold 260,000 tons of soybeans to China. This is the third consecutive soybean sale announcement involving the world's leading importer, with a total of 720,000 tons.

Information on African swine fever epidemic found in South Korea has also caused fluctuations in the grain market, amid fears that the spread of disease could affect demand for feed ingredients from the market. big import.

The dollar fell on Tuesday (September 17, 2019) ahead of the expected rate cut by the US Federal Reserve, due to falling oil prices and a strong euro.

Oil prices fell sharply from the previous session, after Saudi Energy Minister said the kingdom would restore lost oil production at the end of the month.

Wall Street stocks rose on Tuesday (September 17, 2019), as a result of the attack on Saudi Arabia's largest refinery over the weekend and investors waiting for a rate cut. expected by the Fed on Wednesday (September 18, 2019).

Prices of some items on September 18, 2019:

Source: VITIC / Reuters