USA: Wheat continued to rise on Thursday; corn and soybeans fell on Chicago

Published 2024년 10월 11일

Tridge summary

The wheat market experienced a rise on October 10, 2024, with futures prices increasing across exchanges in Chicago, Kansas City, and Minneapolis. This increase is attributed to anticipation surrounding the U.S. Department of Agriculture's World Agricultural Supply and Demand Estimates (WASDE) report, expectations of reduced corn and wheat stocks, and robust export sales, particularly to Mexico and Japan. In contrast, soybean futures saw a decline as market participants awaited the WASDE report and faced planting challenges in Brazil. Additionally, Algeria's decision to ban French suppliers from a wheat tender led to a rise in the French wheat market.

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

Original content

On Thursday, October 10, 2024, the wheat market rose again. By the end of the trading day, December soft winter wheat quotes on the Chicago Mercantile Exchange CBOT rose to $221.84 per ton, December hard winter wheat futures in Kansas City - to $224.50 per ton, December hard spring wheat futures in Minneapolis MGEХ - to $238.92 per ton. The wheat complex continued to rise on all three exchanges on Thursday. December SRW futures in Chicago closed at $6.05, up 6 cents. HRW futures in Kansas City closed at $6.13-1/4, up 4 ½ cents. Minneapolis spring wheat settled at $6.50-1/2, up 2 ¼ cents. U.S. and European wheat futures rose ahead of the U.S. Department of Agriculture’s World Agricultural Supply and Demand Estimates (WASDE) report. The U.S. Department of Agriculture is set to release its WASDE report on Friday. Market analysts expect U.S. corn stocks to fall 3.0 million tons from September to 49.3 million tons, while global stocks are expected to fall 0.9 million tons to 308.7 ...

Source: Oilworld