Even so, increases in oils are limited by Indonesia’s palm oil export tax exemption, in order to increase shipments and reduce high domestic stocks. On the other hand, the Last week the funds slightly reduced their long position.
The grains seem to line up to the rising effect that occurs in the stock market on Wall Streett. The New York Stock Exchange is shown rising on the wheelinspired by good figures from some bank balance sheets.
The index leads the good streak on Wall Street nasdaq which indicates an increase in 1.1%, they follow him S&P 500 with a 0.6% and the dow jones with a 0.4%.
Corn futures also trade with gains in the Chicago overnight: “Stock and energy markets also drag gains towards cereal, while the heat in the US extends a little more towards the Midwest, although the recent rains may have eased dry weather concerns,” added fyo.
Meanwhile, wheat follows the trend and is trading higher for the first time in six sessions. “Technical purchases after falling broadly underpin wheat pricesaccompanied also by a weaker dollar,” traders say. Still, the possible resumption of exports in Ukraine limits gains, following recent negotiations that were widely supported, according to Russian ministers.
Source: Ambito
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