Global grain market: Wheat, corn and soybean prices rise in Chicago on Monday

Published 2024년 9월 10일

Tridge summary

On September 9, 2024, the wheat market showed mixed results with Chicago Board of Trade December soft winter wheat futures rising, while Kansas City and Minneapolis wheat futures declined. The USDA reported a drop in wheat sales, and Statistics Canada highlighted a significant decrease in Canadian wheat stocks. The FAO reduced global grain production forecasts due to poor harvests in the EU, Mexico, and Ukraine. Maize futures strengthened with increased sales, although Brazil's corn planting was behind schedule. Soybean futures rose despite lower export sales, and Canadian canola stocks saw a notable increase. Meanwhile, the French wheat market and corn prices on the Paris MATIF exchange fell.

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

Original content

The wheat market closed mixed on Monday, September 9, 2024. Chicago Board of Trade December soft winter wheat futures rose to $208.88 per ton, Kansas City Hard Winter Wheat Futures for December fell to $211.55 per ton, and Minneapolis Hard Spring Wheat Futures for December fell to $222.94 per ton. Wheat futures for December ended Monday mixed on three exchanges. Chicago futures rose 1-1/2 cents. Kansas City futures fell 1 ¾ cents. Minneapolis Spring Wheat fell 7 cents. NASS estimated spring wheat planted at 85%, above the 83% average. Winter wheat was planted at 6%, in line with the five-year average. USDA reported wheat sales of 340,000 tonnes, down 36% from the previous week and 17% below the four-week average. The Leeward and Windward Islands led the way with 58,500 tonnes, Mexico bought 51,800 tonnes, South Korea bought 35,000 tonnes, the Philippines bought 33,900 tonnes and Ecuador bought 30,200 tonnes. Statistics Canada reported Canadian wheat stocks as of July 31 at 4.583 ...

Source: Oilworld