Global: Corn stays firm, wheat fades

Published 2022년 4월 14일

Tridge summary

Traders were mixed in their positions as the market prepared for a holiday weekend, with corn prices seeing a nearly 1% increase due to concerns over global supply and potential planting delays, while wheat prices fell due to technical selling and profit-taking. Despite these movements, wheat prices remain at historically high levels due to the invasion of Ukraine by Russia and concerns over low U.S. crop quality. Soybean prices were also slightly higher, and old crop sales dropped significantly, while wheat export shipments improved. Strategie Grains has slightly reduced its estimates for European Union soft wheat production in 2022/23, and various countries are making purchases of milling wheat from different origins. Preliminary volume estimates were lower than the previous day.

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

Original content

Traders squared positions ahead of a three-day holiday weekend on Thursday, with mixed results. Corn prices fared the best, firming nearly 1% on a round of technical buying over concerns about tightening global supplies and possible planting delays in the U.S. Nearby soybean contracts also trended slightly higher today. In contrast, wheat prices stumbled significantly, with most contracts down 1.5% to 2.5% on a round of technical selling and profit-taking. Most of the central U.S. will see at least some measurable moisture over Easter weekend, per the latest 72-hour cumulative precipitation map from NOAA. Parts of the Mid-South are likely to see the largest amounts between Friday and Monday. NOAA’s 8-to-14-day outlook predicts seasonally wet weather for the western half of the country between April 21 and April 27, with warmer-than-normal conditions likely for most of the Midwest and Plains during this time. On Wall St., the Dow trended 105 points in afternoon trading to 34,670, ...

Source: Prairie Grain Partners