US: Futures for wheat, corn and soybeans rose on Thursday

Published 2023년 6월 9일

Tridge summary

On June 8, 2023, the Chicago Mercantile Exchange (CBOT) witnessed a surge in wheat futures, driven by dry weather in the US and escalating Russia-Ukraine tensions. Soft winter wheat, hard winter wheat, and hard spring wheat futures all saw increases. Additionally, corn and soybean futures also closed positively due to anticipated supply tightness. The USDA's upcoming report on global agricultural supply and demand is causing traders to adjust positions. Furthermore, the French grain market experienced growth, with milling wheat and corn quotes rising.

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

Original content

On Thursday, June 08, 2023, July wheat futures on the Chicago Mercantile Exchange CBOT rose against the backdrop of dry weather in the United States and rising tensions between Russia and Ukraine. As a result of the trading day, July quotations of soft winter wheat CBOT in Chicago rose to $230.10 per ton, July futures of hard winter wheat KCBT in Kansas City - up to $295.69 per ton, July futures of hard spring wheat MGEX - up to $299.73 per ton. ton. U.S. wheat futures rose on Thursday, rebounding from a sharp sell-off a day earlier amid tech buying and concerns over supply disruptions due to the Russia-Ukraine conflict. Corn and soybeans also closed in positive territory, with old crop contracts supported by expectations that supplies will remain tight despite lower export demand for US supplies. An increased dry weather forecast for the US Midwest pushed up new crop contracts after trading in negative territory for most of the session. Traders were adjusting positions ahead of ...

Source: Zol