Red almost covered the agricultural market when the prices of 6/7 items decreased, of which, soybean meal decreased by 3.68%, soybean oil decreased by 3.41%, corn decreased by more than 1%.... Besides, in the coffee market, the prices of both Robusta and Arabica products plummeted by nearly 4%.

Corn prices under selling pressure right from the opening

At the close of yesterday's trading session, strong selling pressure returned to the agricultural market. In particular, corn prices were under pressure since the opening and weakened nearly 1.5% in the context of the weather in the US receiving positive information about supply.

Agricultural product price list

In its Crop Progress report, the U.S. Department of Agriculture (USDA) said that the percentage of corn that was rated good/excellent last week remained at 67% of the area, the same as the previous week. This is up from 59% a year ago and contrary to market expectations for a decrease, indicating that this year's crop is doing better than expected. This week, the weather in the Midwest corn growing regions is expected to be cooler, especially in the Great Lakes to Upper Midwest regions. In addition, scattered thunderstorms may occur with additional rainfall to help plants have enough water during the favorable growing period. With the positive weather outlook, the market can expect a record corn yield in the U.S. this year, which has put pressure on corn prices.

In addition, consulting firm AgRural said that as of August 8, about 98% of the second-crop corn area had been harvested, up 3 percentage points from a week ago and far above the 71% level at the same time last year. AgRural assessed that the crop was growing well and was largely unaffected by the frost late last week. Seasonal pressure from Brazil was also a factor driving selling pressure in the market.

Prices of some other goods

Industrial raw material price list

Metal price list

Energy price list