U.S. agricultural futures rise By XU JING WORLD Wednesday, 23 Dec 20205:03 AM MYT CHICAGO, Dec. 22 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Tuesday, led by wheat.
The most active corn contract for March delivery rose 3.5 cents, or 0.8 percent, to settle at 4.435 dollars per bushel. March wheat climbed 5.75 cents, or 0.94 percent, to settle at 6.17 dollars per bushel. March soybean gained 2.5 cents, or 0.2 percent, to close at 12.5 dollars per bushel.
Soybean futures climbed to new highs as the United States has sold 90 percent of the annual U.S. soybean export forecast. Soybean futures can hardly go down amid rumors that China is seeking new crop U.S. soybeans, Chicago-based research company AgResource noted.
AgResource expects bulls will come back buying after the Christmas holiday, as traders want to be long heading into the Jan. 12 U.S. Department of Agriculture (USDA) report.
China soybean imports to date suggest a 102 to 104 million metric ton all origin import pace for 2020-2021. AgResource forecasts that China could take 107 to 109 million metric tons of all origin soybeans in 2021-2022, a 5 to 7 million metric ton increase from the current crop year.
Weather forecast maintains a classic La Nina pattern for South America and worries about the return of dryness for Northern Brazil in January remain.
AgResource looks for better than expected U.S. export sales early Wednesday, holding any corrections should be modest as this is demand rationing rally.
Guys,buy this as the buisness going to turn around,it drop too long, its time to up otherwise it long to be as PN17, if it didn't means something behind support it very strong. This year is MFLOUR to show
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JackTan1217
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Posted by JackTan1217 > 2020-12-02 13:36 | Report Abuse
52 week high already.. Because they got some very good news flowing out.... Should be very soon