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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.

USD/CHF Consolidates Around 0.9040 As Attention Shifts To US Inflation

Daniel Rogers

Apr 10, 2023 14:27

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The USD/CHF pair continues to trade lacklusterly above the crucial support level of 0.9036 in the early Tokyo session. Investors are shifting their focus to Wednesday's release of United States Consumer Price Index (CPI) data, making it difficult for the Swiss Franc to gain traction.

 

As tensions between China and Taiwan escalate, S&P500 futures have pared some of their gains. The market's anxiety has been alleviated by the increasing intensity of Chinese military exercises around Taiwan Island. In addition, concerns of a recession are likely to cause volatility in US equities.

 

Jamie Dimon, CEO of JPMorgan Chase, stated in an interview with CNN that the recent banking turmoil caused by the dissolution of Silicon Valley Bank (SVB) and Signature Bank has increased the likelihood of a recession in the United States.  Despite the robustness and security of the banking system, the recent turmoil in the financial system is "another weight on the scale" toward recession, he added.

 

The US Dollar Index (DXY) is protecting the 102.00 support level ahead of US Consumer Price Index (CPI) data. According to the consensus, headline inflation will fall from 6.0% to 5.2%. In addition, the headline monthly CPI would decelerate to 0.3% from 0.4% previously reported. As a consequence of oil prices remaining low in March, inflationary pressures are anticipated to become evident.

 

In contrast, the core CPI, which excludes crude and food prices, is anticipated to increase to 5.6% from 5.5%. The tenacity of inflationary pressures is maintained by the resiliency of demand for essential products, as a result of a higher labor cost index. A similar event could compel the Federal Reserve (Fed) to raise rates again at its May monetary policy meeting.

 

Regarding the Swiss Franc, Swiss markets are suspended on Easter Monday. This week, the Producer Price Index (PPI) data will have an impact on the Swiss Franc.

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