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On June 26th, according to foreign media reports, Canadian canola futures on the Intercontinental Exchange (ICE) closed higher on Thursday, with the benchmark contract rising 0.40%, mainly reflecting a rebound in international crude oil futures. An analyst stated that the modest rise in Canadian canola prices was primarily due to a rebound in West Texas Intermediate (WTI) crude oil prices after falling to $70 per barrel, which boosted commodity prices, including canola. Crude oil prices rose by more than $1 per barrel, and Chicago soybean oil and European canola oil prices also increased. However, Malaysian palm oil prices fell on the same day. Statistics Canada will release its canola planting area report next Tuesday. Analysts currently predict that the Canadian canola planting area this year will be between 22.1 million and 23 million acres.June 26 (Futures News) – According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 2.2%, following the rebound in the international crude oil market. International crude oil futures rebounded on Thursday as an attack on a cargo ship near Oman raised concerns about when Middle Eastern oil shipments would return to pre-war levels. The rebound in crude oil prices provided a strong boost to the Chicago soybean oil market. The U.S. Department of Agricultures weekly export sales report showed that for the week ending June 18, 2026, net sales of U.S. soybean oil for the 2025/26 marketing year were 900 tons, down 62% from the previous week and 47% from the four-week average.On June 26th, according to foreign media reports, soybean meal futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 1.6%, following gains in neighboring soybean and soybean oil markets. The rebound in international crude oil futures and the potential for high temperatures in the Midwest boosted Chicago soybean and soybean oil futures, providing a price support for the soybean meal market. The USDAs weekly export sales report showed that for the week ending June 18, 2026, net sales of U.S. soybean meal for the 2025/26 marketing year totaled 153,100 tons, down 46% from the previous week and 47% from the four-week average. Net sales for the 2026/27 marketing year were 29,200 tons, compared to 120,200 tons a week earlier.June 26 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed higher on Thursday, with the benchmark contract rising 2%. This was mainly due to improved U.S. soybean export sales, a rebound in international crude oil futures, and the possibility of high temperatures in parts of the Midwest over the weekend, which boosted the relative price of soybean oil futures. The U.S. Department of Agricultures crop condition report released Monday showed that two-thirds of the U.S. corn and soybean crops were growing well or very well, reflecting favorable growing conditions in the Midwest. However, market attention shifted to the weather forecast for the coming week on Thursday. The National Oceanic and Atmospheric Administration (NOAA) predicts that temperatures could reach 100 degrees Fahrenheit (approximately 38 degrees Celsius) this weekend from the northern Midwest to the Carolinas in the East. Temperatures from the Great Plains to the Atlantic coast will be above average for this time of year, a situation expected to continue until July 4.Japans Tokyo unadjusted CPI rose 0% month-on-month in June, compared with 0.3% in the previous month.

As the BOJ advocates a dovish approach, AUD/JPY is receiving buying activity near 90.50

Daniel Rogers

Dec 29, 2022 11:50

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In the early Asian session, the AUD/JPY pair is anticipating a respite in the corrective move to about 90.50. Previously, the risk barometer sank progressively after failing to continue its advance past the crucial resistance level of 91.00. As the continuing of the Bank of Japan's (BOJ) supportive stance has caused volatility in the Japanese yen, it is anticipated that the cross would experience a recovery move.

 

Meanwhile, the AUD/USD is exhibiting symptoms of abandoning its downward momentum, and the AUD/JPY is expected to follow suit.

 

As numerous nations enforce Covid safety restrictions on Chinese travelers, the Australian Dollar is expected to suffer complex price changes. After the lifting of lockdown restrictions and rapid reopening of the economy, the incidence of covid infections in China has grown dramatically. Health officials in the United States indicated that travelers from China will be forced to undergo COVID-19 testing.

 

The Chinese economy has already abandoned traveler quarantine laws. The hospital staff considers the current period as the busiest they have ever witnessed, citing the sharp spike in Covid-19 cases. The goal of the economy's reopening was to eliminate supply chain interruptions; yet, it appears that the economy's quick recovery has increased supply chain bottlenecks.

 

As reported by Reuters, on the Tokyo front the BOJ reiterated that the broadening of the yield band was meant to resolve market inefficiencies in 10-year Japanese Government Bonds (JGBs) and is not a prelude toward an exit from ultra-accommodative policy. This may result in greater yen depreciation in the future.


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