USA: Wheat and corn in Chicago ended the week with growth on export demand

Published 2023년 3월 20일

Tridge summary

Chicago Mercantile Exchange (CBOT) wheat futures experienced a rise due to export demand, with May soft winter wheat in Chicago, hard winter wheat futures in Kansas City, and spring wheat futures also increasing. This was the first weekly gain for wheat and corn futures in five weeks, driven by strong US corn export demand and market turmoil over a grain deal extension. Meanwhile, soybean contracts fell for a week in a row. The USDA's reports on sales of American old crop corn to China and the weakening dollar also supported US commodities. Additionally, the article covered the outcomes of grain market negotiations, the potential impact on crops from rainstorms in Argentina, and a decrease in production forecasts for soybeans and corn in Argentina.

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

Original content

On Friday, March 17, 2023, Chicago Mercantile Exchange CBOT wheat futures rose on export demand. As a result of the trading day, CBOT May soft winter wheat in Chicago rose to $261.06 per ton, KCBT May hard winter wheat futures in Kansas City - up to $307.08 per ton, May MGEX spring wheat futures - up to $316.27. Wheat and corn futures in Chicago posted a weekly gain for the first time in five weeks, ending Friday's trading higher on strong US corn export demand and market turmoil over a grain deal extension. May soft red winter wheat on the Chicago Mercantile Exchange rose 11.1/2 to $7.10-1/2 a bushel, with the most active contact marking a weekly gain for the first time in five weeks. May CBOT corn edged up 1-1/2 cents to $6.34-1/4 a bushel, with the most active contract posting a weekly gain for the first time in the same period. The May soybean contract fell 15 cents to $14.76-1/2 a bushel and closed lower for a week in a row. The US Department of Agriculture (USDA) released ...

Source: Zol