Tridge summary
The article provides an overview of the closing prices for Wheat, Corn, and Soybeans at Chicago, highlighting the dynamics in the global agricultural market. It points out that Wheat prices have seen a rebound, driven by technical purchases and US export activity, despite a 15% drop over the past month due to the Black Sea agreement and positive global production trends. Corn prices are surging due to reduced production in Argentina, the world's third-largest exporter, though this is tempered by positive production forecasts for Brazil. Soybean prices are experiencing mixed results, with gains due to buying activity and reduced production outlook in Brazil, but overall losses attributed to the advanced harvest in Mato Grosso. Additionally, China's state-controlled grain company, Sinograin, is actively purchasing and storing soybeans to increase domestic prices and encourage more planting in 2023.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Chihuahua, Chih.- The Ministry of Agriculture, Livestock and Fisheries of Argentina, shares the Chicago closing prices dated March 10 of the current year for Wheat, Corn and Soybeans. WHEAT: Wheat rebounds from negative terrain and closes the day with gains. Technical purchases and some export business in the United States put a floor to the losses of the last wheels and prop up the positions of the cereal. However, analyzing the last four weeks, due to the optimism of the Black Sea agreement and global production prospects, wheat prices fell by 15%, while corn and soybeans show losses of around 10% and 9% respectively. CORN: The latest production data for our country is being watched closely by the market, which is closing a bullish day for corn. The substantial drop in production in Argentina, the world's third largest exporter of corn, explains today's earnings framework. However, production projections for Brazil remain optimal, which limits increases. SOYBEANS: Soybeans close ...
Source: Arriba El Campo
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