Wheat, corn and soybeans rose in price on the global grain market on Tuesday after WASDE publication

Published 2024년 12월 11일

Tridge summary

The U.S. wheat market saw a rise on three exchanges on December 10, 2024, following the USDA's decision to reduce inventories. This increase was mirrored in the European markets, with strengthened export outlooks and a narrowed global production forecast contributing to the trend. The USDA also reported a decline in U.S. corn ending stocks, leading to a surge in corn futures. Soybean futures also experienced a rise after the release of the USDA's World Agricultural Supply and Demand Estimates (WASDE) report. Global soybean carryovers increased slightly, and China's November soybean imports rose by 9.4% year-on-year. The article also mentions the wheat market's performance in France and Japan, and provides updates on the wheat, corn, and soybean production and market trends in various countries, including Brazil, Argentina, and the EU.

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

Original content

The wheat market rose on three exchanges on Tuesday, December 10, 2024, after the USDA cut inventories. March soft winter wheat quotes on the Chicago Mercantile Exchange CBOT rose to $206.40 a ton, March hard winter wheat futures on the Kansas City Exchange rose to $207.87 a ton, and March hard spring wheat futures on the Minneapolis Exchange MGEX rose to $222.85 a ton. Wheat futures in the U.S. and Europe rose on Tuesday after the USDA cut its estimate for U.S. wheat ending stocks for the 2024/25 marketing year, while strengthening its export outlook and narrowing its global production forecast. The USDA forecast for the world wheat harvest was 792.95 million tons (794.73 million tons in the November estimate), feed grain - 1 billion 499.13 million tons (1 billion 499.71 million tons), corn - 1 billion 217.89 million tons (1 billion 219.4 million tons). Chicago March SRW futures settled at $5.61-3/4, up 3 cents. Kansas City March HRW futures settled at $5.65-3/4, up 7 cents. ...

Source: Zol