Global grain market: Wheat prices rose on Tuesday, corn prices fell, and soybeans are mixed

Published 2024년 8월 21일

Tridge summary

The wheat market saw a rise on Tuesday, August 20, 2024, with September soft winter wheat quotes on the Chicago Mercantile Exchange CBOT increasing to $195.84 per ton, September hard winter wheat futures in Kansas City rising to $200.62 per ton, and September hard spring wheat futures in Minneapolis reaching $216.88 per ton. This increase was due to a weak dollar making U.S. wheat more competitive globally, despite strong U.S. Department of Agriculture crop ratings. Meanwhile, corn futures ended Tuesday down 3 cents, and soybeans ended mixed. The U.S. Department of Agriculture reported that 68% of the U.S. soybean crop was in good or excellent condition as of Aug. 18, one of the highest mid-August levels on record. Additionally, China's total soybean imports in July were 9.85 million tons, with 9.12 million tons coming from Brazil and 475,392 tons from the U.S.

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

Original content

On Tuesday, August 20, 2024, the wheat market rose. By the end of the trading day, September soft winter wheat quotes on the Chicago Mercantile Exchange CBOT rose to $195.84 per ton, September hard winter wheat futures in Kansas City rose to $200.62 per ton, September hard spring wheat futures in Minneapolis MGEХ - to $216.88 per ton. Wheat contracts rose on all three exchanges on Tuesday. September futures in Chicago rose by 4-3/4 cents, in Kansas City they rose by 5-1/4 cents. Spring wheat in Minneapolis rose by 3 cents. Wheat futures firmed on Tuesday as a weak dollar made U.S. wheat more competitive on the global market, but strong U.S. Department of Agriculture crop ratings weighed on prices. The U.S. Department of Agriculture (USDA) said 96% of the U.S. winter wheat crop and 31% of the spring wheat crop had been harvested as of Aug. 18. The spring wheat crop improved 1% to 73%. Japan has issued a tender for 81,442 tonnes of U.S. and Canadian wheat, of which 53,562 tonnes ...

Source: Zol