USA: Futures for wheat, corn and soybeans continued to rise on Monday

Published 2024년 4월 23일

Tridge summary

US wheat futures saw a rise on April 22, 2024, due to concerns over drought in the U.S. Plains and southern Russia, short covering, and geopolitical tensions. The Chicago Board of Trade reported an increase in wheat, corn, and soybean futures. The U.S. winter wheat crop showed a 17% increase, and spring wheat sowing was faster than usual. However, wheat shipments have decreased by 27.4% from the previous week. The Russian government has increased the export quota for wheat, meslin, rye, barley, and corn until June 30 to support local producers. The French grain market also experienced growth, with milling wheat quotes rising to €215.50 per ton.

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

Original content

On Monday, April 22, 2024, US wheat futures rose. At the end of the trading day, May quotations of soft winter wheat SRW on the Chicago Mercantile Exchange CBOT rose to $219.54 per ton, May futures of hard winter wheat KCBT in Kansas City - to $213.66 per ton, May futures of hard spring wheat MGEX in Minneapolis - up to $240.94 per ton. Chicago wheat futures rose sharply on Monday, helped by developing drought in the U.S. Plains and southern Russia, short covering and geopolitical tensions. Corn and soybean futures also rose. The Chicago Board of Trade (CBOT) May SRW wheat contract rose 20 cents to $5.70-1/4 a bushel, May CBOT soybeans rose 10-1/2 cents to $11.61 a bushel, and May CBOT corn rose 10-1/2 cents to $11.61 a bushel. down 6-1/4 cents to $4.39-3/4 a bushel. “Concerns about drought in the U.S. plains and developing drought in southern Russia were the main reasons for supporting the wheat complex,” says Angie Setzer, partner at Consus Ag Consulting. “Increased attacks on ...

Source: Oilworld