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Author Topic: Positive grain contracts NTC buys after the dollar depreciates  (Read 504 times)

Vser

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Positive grain contracts NTC buys after the dollar depreciates

CBOT commodity market last night (29 Dec), grain contracts closed positive throughout the board. Led by the soybean contract

Xinhua news agency reported that Corn contract for delivery in March March wheat rose 9.5 cents, or 2.08 percent, to 4.66 dollars per bushel. November soybeans were up 4.25 cents, or 0.69 percent, to 6.185 dollars per bushel. And the soybean contract for delivery in March November soybeans were 38.75 cents, or 3.08 percent, to 12.96 dollars per bushel.

Strong energy prices, coupled with a depreciation in the US dollar, have prompted investors to resume buying contracts for agricultural products, with Chicago-based research firm AgResource predicting that CBOT investors will trade when contracts break the original price range. And trading until you can confirm that The areas of central and northern Brazil will certainly see rain from now until early February.

The US Department of Agriculture (USDA) did not report any new exports. But China is expected to return to buy US soybeans again in January. Before the Lunar New Year on Feb. 12, China had already ordered 7 million tonnes of Brazilian soybeans for delivery in February.



 

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