USA: Wheat rebounds from a six-month low on global demand

Published 2022년 8월 4일

Tridge summary

Corn prices saw slight decreases due to concerns about a potential global recession and geopolitical tensions between the U.S. and China, but hot and dry weather in the Midwest limited losses. Meanwhile, soybean prices increased due to weather concerns and support from the global edible oils complex, despite worries about Chinese demand and domestic supplies. Wheat prices also rose due to global purchase announcements, a stronger dollar, and concerns about Ukraine's grain exporting capabilities. The article also discussed the potential impact of hot weather on olive oil production in Spain, expansion plans for corn and sorghum production in Indonesia, and the accuracy of USDA's yield estimates compared to final harvest estimates.

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

Original content

Corn mixed Soybeans up 6-8 cents; Soymeal up $6.90/ton; Soyoil up $1.95/lb Chicago wheat up 6-7 cents; Kansas City wheat up 6-7 cents; Minneapolis wheat up 8-12 cents *Prices as of 6:55am CDT. Feedback from the Field updates! How does your farm’s crop conditions stack up against other farms around the country? Click this link to take the survey and share updates about your farm’s crop development. I review and upload results daily to the FFTF Google™ MyMap, so farmers can see others’ responses from across the country - or even across the county! Corn Corn prices edged $0.01-$0.04/bushel lower this morning, though hovered between gains and losses, as crude oil futures flirted with a six-month low overnight. Global economic concerns about a potential recession, which would trigger weaker economic demand, factored back into the equation this morning, limiting upside price potential for energy and corn futures alike. Some lingering geopolitical concerns between the U.S. and China ...

Source: Prairie Grain Partners