Morning Briefing – US markets slightly lower this morning on Globex 20/04/18

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On April 20, 2018, Posted by , In Morning Briefing,Nos articles, With No Comments

Sitagri Morning Briefing

US grain markets

The markets remained rather stable. Wheat remains supported as the showers in the Plaines may not deliver as much moisture as expected.

The USDA released its weekly export sales report.

 

Corn

The May contract closed 1c down at 382c. It trades this morning 1c lower.

Export sales of 1.2mT were up from a week earlier. The markets expected a number between 701kT and 1.4mT.

Monday’s export inspections of 1.5mT were down from a week earlier but on the high end of expectations.

 

Soybeans

The May contract closed 4c down at 1037c. It trades this morning 1c lower.

Export sales of 1.4mT were down from a week earlier. The markets expected a number between 1.4mT and 2.2mT.

Monday’s export inspections of 445kT were slightly up from a week earlier and within market expectations.

 

Wheat

The May contract closed 1c up 477c. It trades this morning 4c lower.

Export sales of 240kT were up from a week earlier. The markets expected a number between 101kT and 550kT.

Monday’s export inspections of 486kT were slightly up from a week earlier and on the high end of expectations.

 

Other markets

 

The main US stock indexes closed lower. The S&P lost 0.6% and the DJ 0.3%. The markets declined after some deceiving quarterly earnings of listed companies.

 

Crude oil prices trade slightly lower with some profit taking after Wednesday’s on their 3.5 years highs. They rallied after the EIA report showing lower than expected US crude stocks. The May WTI trades this morning around $68.10 and the June Brent around $73.60.

 

The Dollar remains rather stable against the Euro. The €/$ pair trades this morning around 1.2380.


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