Chicago soybeans, grains mixed in pre-Christmas trade in United States

Published 2024년 12월 25일

Tridge summary

Chicago soybean futures rose on Tuesday, while wheat eased and corn futures were unchanged as traders were making adjustments in thin pre-holiday trading. The U.S. dollar, near a two-year peak, was a weight on the market as it makes U.S. supplies more expensive in export markets. Russia's wheat export quota is expected to be sharply reduced next year. Warmer-than-usual weather in Russia could complicate the overwintering of grains, and securing access for Russia's winter wheat and barley to the Chinese market remains a priority for the coming year. The bourse will be closed on Wednesday for Christmas.

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

Original content

Chicago soybean futures rose on Tuesday, while wheat eased and corn futures were unchanged as traders were making adjustments in thin pre-holiday trading, with a stronger dollar weighing on the market. The most-active soybeans contract on the Chicago Board of Trade ZS1! rose 0.3% to $9.78-3/4 a bushel by 1115 GMT, while wheat ZW1! shed 0.1% to $5.39-3/4 a bushel. Corn ZC1! was unchanged at $4.47-1/2 a bushel. The U.S. dollar DXY was perched near a two-year peak as prospects of higher-for-longer U.S. interest rates remained on top of investors’ minds, leaving other currencies struggling. A stronger dollar makes U.S. supplies more expensive in export markets. Russia, the world’s largest wheat exporter, said on Friday its wheat and meslin export quota in the second half of the exporting season will stand at 10.6 million metric tons, implying exports would be sharply reduced next year. “The export dynamics up to this date will be important to watch in order to decide on the ...

Source: Hellenic Shipping News