World grain market: Wheat and soybeans rose in price in Chicago on Monday, and corn fell in price

Published 2024년 3월 26일

Tridge summary

On March 22, 2024, the US wheat futures market saw mixed results, with soft winter wheat on the Chicago Mercantile Exchange experiencing a rise, whereas hard winter wheat in Kansas City and hard spring wheat in Minneapolis faced declines. Soybean prices went up, and corn futures saw a slight decrease amid fluctuating trading conditions. These market movements were influenced by geopolitical tensions in the Black Sea region, concerns about Russian wheat exports, and the anticipation of the USDA's report on planting plans. Additionally, the French grain market observed a drop in milling wheat and corn prices on the Parisian MATIF exchange, reflecting the interconnected nature of global agricultural commodity trading.

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

Original content

On Friday, March 22, 2024, US wheat futures rose. At the end of the trading day, May quotations of soft winter wheat on the Chicago Mercantile Exchange CBOT rose to $203.92 per ton, May futures of hard winter wheat KCBT in Kansas City dropped to $216.60 per ton, May futures of hard spring wheat MGEX in Minneapolis - to $242.32 per ton. Chicago Board of Trade (CBOT) wheat futures stabilized on Monday, but fell short of the three-week high prices reached earlier in the session. Soybean prices also rose as dealers adjusted positions ahead of the US Department of Agriculture's (USDA) planting plans report on Thursday, while corn futures edged lower in choppy trading. Tensions in the Black Sea region and concerns about a possible decline in exports from Russia, the largest supplier, sent wheat prices soaring before technical sales weighed on the market. May CBOT wheat futures rose 1/4 cent to $5.55 a bushel after earlier hitting $5.67, the highest price since March 4. Soybeans rose ...

Source: Zol