World grain market: Wheat and corn fell in price, soybeans fell to a two-year low on Monday

Published 2024년 1월 30일

Tridge summary

On January 29, 2024, wheat, corn, and soybean futures on the Chicago Board of Trade (CBOT) hit their lowest levels in a week, two years, and a week respectively, due to factors such as lower crude oil prices, a stronger U.S. dollar, and improved South American harvest prospects. Uncertainty surrounds China's demand for these commodities amidst its property crisis. Russian wheat export prices are also falling due to an oversupply in the Black Sea region, despite an increase in export volumes. The French grain market is similarly experiencing a decline.

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

Original content

On Monday, January 29, 2024, Chicago Board of Trade (CBOT) wheat futures hit a one-week low. At the end of the trading day, March soft winter wheat quotes on the Chicago Mercantile Exchange CBOT fell to - $218.07 per ton, March hard winter wheat KCBT futures in Kansas City - to $227.16 per ton, March hard spring wheat futures MGEX in Minneapolis - to $254.72 per ton. Corn futures hit their lowest level in more than a week on Monday and wheat hit a one-week low as lower crude oil prices and a stronger U.S. dollar added to bearish sentiment in the grain market. U.S. soybean futures fell to a two-year low below $12 a bushel on Monday, weighed down by improving prospects for big South American harvests and concerns about demand as the world's top soybean buyer China grapples with a housing crisis. analysts said. Chicago Board of Trade (CBOT) March soybeans fell 15 cents to $11.94-1/4 a bushel. March CBOT corn fell 6 cents to $4.40-1/4 a bushel and March wheat fell 6-3/4 cents to close ...

Source: Oilworld