In the world grain market, Chicago wheat fell to a 25-month low and corn and soybeans also fell

Published 2023년 5월 3일

Tridge summary

On May 2, 2023, wheat futures on the Chicago Mercantile Exchange reached a 25-month low due to favorable weather conditions and positive harvest reports, leading to a decrease in wheat, corn, and soybean futures. The USDA reported an increase in the winter wheat crop rating to 28% good to excellent. Meanwhile, a UN-brokered grain deal allows Ukrainian grain to be exported across the Black Sea, though the European Commission has restricted the import of certain Ukrainian grains to address oversupply in European countries. The French grain market also experienced a decline.

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

Original content

On Tuesday, May 02, 2023, July wheat futures on the Chicago Mercantile Exchange (CBOT) hit a 25-month low under weather pressure and good harvest news. As a result of the trading day, July quotations of soft winter wheat CBOT in Chicago fell to $223.86 per ton, July futures of hard winter wheat KCBT in Kansas City - to $271.99 per ton, July futures of hard spring wheat MGEX - to $284.21. Wheat hit a 25-month low in the session in Chicago and closed lower on Tuesday amid favorable weather to boost the US crop and improve crop conditions. As of Sunday, April 30, the US Department of Agriculture's winter wheat crop rating is up 2 points from the previous week, to 28% from good to excellent. Corn and soybeans also closed lower as fears of adverse planting weather eased and export demand eased. July futures for wheat on the Chicago Mercantile Exchange (CBOT) fell 9 cents to $6.09-1/4 a bushel. July corn fell 4-1/2 cents to $5.80 a bushel and soybeans fell 16-3/4 cents to $14.10-3/4 a ...

Source: Zol