Tuesday, October 23, 2012

October 23, 2012, the U.S. market is waiting for competition reduce


On Monday, grain contracts showed improvement mainly on trading session basis. Rises in wheat price due to players’ expectations to U.S. wheat demand strengthen by importers.
Wheat market shows optimism regarding export demand for U.S. corn. Recall that on Friday Ukraine announced the possible problems with wheat exports volume. Probably in the next few weeks Ukrainian wheat stocks for export can run out. This gives the U.S. market hopes for revival interest in the American grain through competition lessening.
At the end of the trading session on Monday wheat showed an increase of 0.7%, and corn demonstrated stability.
Trading session ended on October 22 with the following indicators:
- Wheat (December) - 878.25 c/b (+5.75);
- Corn (December) - 761.25 c/ b (-0.25).

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