- US grain markets
Wheat dropped further with beneficial rains in the Plains. Soybeans and corn dropped with technical considerations.
The USDA released its weekly Crop Progress and export inspections reports.
The May contract closed 4c down at 382c. It trades this morning around its closing levels.
Export inspections of 1.5mT were down from a week earlier but on the high end of expectations. Mexico was the main destination.
According to the USDA, 3% were planted as of the 15th of April, 2% less than the 2013-2017 average.
The May contract closed 12c down at 1042c. It trades this morning around its closing levels.
Export inspections of 445kT were slightly up from a week earlier and within market expectations. Egypt was the main destination.
The May contract closed 10c down 462c. It trades this morning 2c lower. Export inspections of 486kT were slightly up from a week earlier and on the high end of expectations.
According to the USDA, 31% of the grains are in good to excellent condition (+1%). In France, FranceAgriMer announced 78% of the grains in good to excellent condition, number unchanged from a week earlier. Tunisia seeks 125kT of optional origins milling wheat.
- Other markets
The main US stock indexes closed higher. The S&P rose 0.8% and the DJ 0.9%. The markets were supported by the health care sector and lower tensions in Syria.
Crude oil prices trade slightly lower after last week’s rally. The May WTI trades this morning around $66.50 and the June Brent around $71.70.
The Dollar trades slightly lower stable as tensions around Syria decrease. The €/$ pair trades this morning around 1.2380.