CHICAGOThere was no immediate word, however, on progress in talks wit, Aug. 28 (Xinhua) — Chicago Board of Trade (CBOT) agricultural futures closed higher in the past week as the world’s agricultural demand is shifting to the United States, Chicago-based AgResource noted.
Weaker U.S. dollar will pull fresh funds into the U.S. agricultural futures markets into yearend, as a sliding U.S. dollar would boost purchasing capacity of other nations.
CBOT corn futures ended the week higher and marching seasonal recovery process is beginning. AgResource can’t rule out a secondary test of 5.30 to 5.35 dollars for the December contract, but downside risk is becoming increasingly limited.
Most importantly, U.S. export demand is beginning to respond to U.S. corn’s increasingly competitive position in the world marketplace. The shift in demand to the U.S. market has been slowCOVID-19 vaccines fro, but importers have little choice but to boost forward feed coverage with U.S:1640034537592,. corn between now and the first quarter of 2022. The rapid development of La Nina is also a concern via its strong correlation with drought in Argentina and Southern Brazil.
Copyright © 2011 JIN SHI