Global grain market: Soybeans reached a two-month high on Monday, wheat rose, corn unchanged

Published 2023년 11월 7일

Tridge summary

Wheat futures rose on the Chicago Board of Trade (CBOT), with prices increasing for soft winter wheat, hard winter wheat, and hard spring wheat. The rise in soybean futures was driven by weather concerns in Brazil and dry conditions in Argentina. Traders are closely monitoring weather conditions in both countries as soybean planting continues.

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

Original content

On Monday, November 06, 2023, wheat futures on the Chicago Board of Trade (CBOT) rose. At the end of the trading day, December quotations of soft winter wheat on the Chicago Mercantile Exchange CBOT rose to $211.55 per ton, December futures of hard winter wheat KCBT in Kansas City - to $237.27 per ton, December futures of hard spring wheat MGEX in Minneapolis - to $267.77 per ton. Chicago soybean futures hit their highest level in about eight weeks on Monday, weighed down by weather concerns in top exporter Brazil and dry conditions in Argentina. Corn futures closed flat and wheat futures rose slightly as US dollar weakness supported markets. Traders are monitoring uneven weather conditions in Brazil, where soybean planting is underway. Drought is a concern in top soybean-producing state Mato Grosso, and heavy downpours have inundated southern areas. Argentina is still dry, but the situation is improving after the rains the day before. The USDA reported Monday it sold 126,000 tons ...

Source: Zol