US: Afternoon grain market recap for August 23, 2021

Published 2021년 8월 23일

Tridge summary

Grain prices were mixed but mostly higher on Monday, with wheat prices leading the increase. Soybeans also saw slight gains, while corn prices fell despite a flash sale to Mexico. The U.S. Dollar softened moderately, and energy prices significantly increased. The U.S.D.A is expected to show a slight decline in corn and soybean ratings in its next crop progress report. Export inspections for both corn and soybeans were moderately lower week-over-week, with China as the leading destination for both. Wheat export inspections saw moderate week-over-week gains, moving to 24.2 million bushels, with China as the No. 1 destination. Pakistan and Mauritius have issued tenders to purchase wheat, and preliminary volume estimates for CBOT contracts were moderately below recent counts.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Grain prices were mixed but mostly higher Monday, attracting some bargain buyers after slumping for much of last week. Wheat prices fared the best, closing between 0.5% and 1% higher after battling through a sometimes choppy session. Soybeans were also in the green but only added meager gains of around 0.25%. Corn struggled once more, in contrast, finishing the session slightly in the red after testing modest overnight gains. NOAA’s latest 72-hour cumulative precipitation map shows the possibility for variable rains between Tuesday and Friday. South Dakota, southern Minnesota and Wisconsin have the best chance to see as much as 1” later this week. The agency’s 8-to-14-day outlook predicts seasonally wet weather for the upper Midwest and some of the eastern Corn Belt between August 30 and September 5, with seasonally normal conditions likely for much of the central U.S. On Wall St., the Dow firmed 271 points in afternoon trading to 35,391, spurred partly by investor confidence ...

Source: Prairie Grain Partners