World grain market: Chicago wheat continued to rise on Wednesday, and corn and soybeans also rose

Published 2024년 10월 10일

Tridge summary

The wheat market experienced a rise on the Chicago Mercantile Exchange CBOT on October 9, 2024, with December soft winter wheat quotes increasing to $220.09 per ton, hard winter wheat futures in Kansas City reaching $223.67 per ton, and hard spring wheat futures in Minneapolis making it to $238.19 per ton. This increase is attributed to expectations of lower global and domestic ending stocks, a smaller harvest in wheat-producing countries, and reduced wheat exports from Russia and Ukraine. In contrast, the French wheat market saw a decline. Additionally, U.S. corn futures steadied, expecting a report to reduce domestic production and ending stocks, and soybean futures snapped a five-session losing streak, returning to positive territory.

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

Original content

On Wednesday, October 9, 2024, the wheat market rose again. By the end of the trading day, December soft winter wheat quotes on the Chicago Mercantile Exchange CBOT rose to $220.09 per ton, December hard winter wheat futures in Kansas City - to $223.67 per ton, December hard spring wheat futures in Minneapolis MGEХ - to $238.19 per ton. The wheat complex closed higher on all three exchanges on Wednesday. December SRW futures in Chicago closed at $5.99, up 4 ¼ cents. HRW futures in Kansas City closed at $6.08-3/4, up 5 cents. Minneapolis spring wheat settled at $6.48-1/4, up 3 1/4 cents. U.S. wheat futures rose Wednesday on technicals and traders' expectations that the U.S. Department of Agriculture's World Agricultural Supply and Demand Estimates (WASDE) report will show lower forecasts for global and domestic ending stocks. A smaller-than-expected harvest in wheat-producing countries like the Black Sea region would push prices higher on the CBOT. Also, a reduction in wheat ...

Source: Zol