Global grain prices on September 20, 2023: Wheat decreased due to supply instability

Published 2023년 9월 20일

Tridge summary

Corn and soybean prices held steady as the US harvest began, with wheat prices increasing slightly after recent declines. A cargo ship carrying wheat left Ukraine, providing hope for easier grain shipping after a collapsed deal with Russia, but three Eastern European countries have banned food imports from Ukraine, potentially complicating overland grain exports. Concerns about a drop in Ukrainian supplies, along with large wheat exports from Russia and competition from Brazil's soybean crop, are likely to support prices in the short term.

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

Original content

Corn prices held most of the gains made on September 19 and soybean prices were near a one-month low as the US harvest of both crops got underway. Wheat prices on the Chicago exchange increased 0.9% to 5.89 USD/bushel, after falling 3.4% in the previous two sessions. Corn prices fell 0.1% to 4.75-3/4 bushels after increasing 1% on September 19, 2023. Soybean prices increased 0.1% to 13.16-3/4 bushels. A cargo ship carrying 3,000 tons of wheat has left Ukraine's Chornomorsk port for the first time since a grain export deal with Russia collapsed, raising hopes that Ukraine will have an easier time shipping grain. However, three Eastern European countries have banned food imports from Ukraine, which could make it more difficult for Ukraine to export grain overland. Concerns about a significant drop in Ukrainian supplies, especially of wheat and corn, are likely to further support prices in the short term, Commerzbank said. Ukraine called on Poland, Slovakia and Hungary to ...

Source: Vinanet