BEIJING — Chicago wheat and corn futures fell on Tuesday, ahead of Ukraine and Russia heading for peace talks, with concerns over rising COVID-19 cases in China weighing on products markets evenmore.
Soybean edged up after falling in the previous session ahead of a extensively enjoyed U.S. planting objectives report lateron this week.
The most-active corn agreement on the Chicago Board of Trade (CBOT) fell 0.33% to $7.46 a bushel.
Wheat dropped 0.86% to $10.42-1/2 a bushel, while soybeans inched up 0.05% to $16.65 a bushel.
Traders squared off positions after earnings, while there was broad sell-off in products as enormous shutdowns in China stired issues over need
Analysts surveyed by Reuters on average anticipate that U.S. farmers will plant less corn and more soybeans this year, ahead of the U.S. Department of Agriculture’s U.S. planting intents report on Thursday.
Ukraine and Russia were headed to their veryfirst inperson peace talks in more than 2 weeks, though opportunities for a advancement were played down.
Though wheat market is underpinned by supply disturbances due to Russia intrusion of Ukraine, purchasers discovered alternative origins for the grain
Commodity funds were web sellers of Chicago Board of Trade wheat, soybean, soyoil, corn and soymeal futures agreements on Monday, traders stated.
World stock markets cast aside fears of increasing interest rates on Monday with the tech-heavy U.S. Nasdaq index rallying 1.3%, even as parts of the Treasury yield curve signified economiccrisis threats while oil rates toppled on fears of weaker Chinese need.
DATA/EVENTS (GMT) 0030 Australia Retail Sales MM Final Feb 1400 US Consumer Confidence March (Reporting by Hallie Gu in Beijing and Naveen Thukral in Singapore; modifying by Uttaresh.V)
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