USA: Chicago close grain price

Published 2023년 2월 28일

Tridge summary

The Ministry of Agriculture, Livestock and Fisheries of Argentina reported a decrease in the closing prices for Wheat, Corn, and Soybeans at the Chicago Board of Trade on February 27, 2023. Wheat prices saw a 2% drop, reaching their lowest level since September 2021, due to favorable weather conditions in the US and expectations of renewing the Black Sea grain shipment agreement. Corn prices also declined, marking four consecutive bearish closes, influenced by increased US corn planting expectations and a lack of significant gains since the market rebounded from the Russian-Ukrainian conflict. Soybean prices were mixed, with concerns over North Korean exports and a slow export pace offset by uncertainties about South American crop yields due to drought, particularly in Argentina.

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Original content

Chihuahua, Chih.- The Ministry of Agriculture, Livestock and Fisheries of Argentina, shares the Chicago closing prices dated February 27 of the current year for Wheat, Corn and Soybeans. WHEAT: Wheat futures fell as much as 2% on Monday, marking the lowest level since September 2021, as rains in key US growing areas over the weekend boosted US crop prospects, which pushed wheat prices into negative territory. In addition, optimism that the agreement allowing grain shipments from Black Sea ports will be renewed in the coming weeks added downward pressure on prices. CORN: Corn closed negative and was on its way to its fourth consecutive bearish close. In this sense, yellow grain prices were influenced downward by indicators of greater US corn plantings for the 2023/24 cycle. In addition, a year after the price jump resulting from the Russian-Ukrainian conflict, the market has regressed all those gains it obtained at the beginning of 2022. SOYBEAN: The oilseed closed mixed, with ...

Source: Arriba El Campo