Tridge summary
The US market saw a rebound in corn and soybean prices, with an increase of over 1%, following a drop in the Dollar Index. This rebound was also aided by the USDA's announcement of a corn sale and technical factors. However, concerns about potential generous harvests in South America in 2025 continue to weigh heavy on the Chicago market. Soybean oil failed to recover and experienced a pullback due to uncertainties in the US biodiesel sector. Wheat prices traded hesitantly due to competition from Southern Hemisphere production and dominant flows from the Black Sea. At the close in Chicago, SRW wheat due March 2025 was at $5.33/bu, corn due March 2025 advanced to $4.46/bu, and soybeans due March 2025 rose to $9.79/bu.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The US market took advantage of the correction of the Dollar Index this Friday evening to offer itself a bullish comeback. Corn and soybean prices rebounded by more than 1%, helped by the USDA's announcement of a sale of 150 kt of corn to unknown destinations during the session. The trend also benefited from technical considerations after soybeans hit their lowest level in four years in the middle of the week. However, the trend remains heavy in Chicago, given the prospect of particularly generous harvests in South America in 2025. Soybean oil also failed to recover and ended the week with a new pullback, in reaction to uncertainties regarding the future of the biodiesel sector in the United States. The price of vegetable oils is also currently being shaken by the fall in palm oil on the Malaysian Stock Exchange, against a backdrop of shrinking demand. ...
Source: TerreNet
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