Wheat, corn, and soybeans rose in price on Tuesday on the world grain market

Published 2024년 11월 6일

Tridge summary

On November 5, 2024, wheat markets experienced a rise across major exchanges, with Chicago's December soft winter wheat closing at $210.35 per ton, while Paris MATIF's December milling wheat increased to €214.00 per ton. U.S. winter wheat planting was nearly complete, and exports were slightly below expectations, despite significant purchases by Egypt and Japan. Corn and soybean markets also saw gains, with U.S. corn and soybean harvests almost finished and exports reaching multi-year highs. Meanwhile, the ICE canola futures market declined due to potential Chinese duties on Canadian canola. French wheat prices, although slightly up, remained near a two-month low due to strong competition from Black Sea countries.

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

Original content

On Tuesday, November 5, 2024, the wheat market continued to rise. By the end of the trading day, December soft winter wheat quotes on the Chicago Mercantile Exchange CBOT rose to $210.35 per ton, December hard winter wheat futures in Kansas City - to $211.92 per ton, December hard spring wheat futures in Minneapolis MGEХ - to $224.32 per ton. The wheat market rose on all three exchanges by the close on Tuesday. December SRW futures in Chicago closed at $5.72-1/2, up 3 ¾ cents. HRW futures in Kansas City closed at $5.76-3/4, up 5 ¾ cents. Minneapolis spring wheat settled at $5.89, up 5 ¼ cents. U.S. winter wheat planting is 87% complete, versus the market’s 86% estimate and the five-year average of 89%. The share of the crop in good and excellent condition was 41%, in line with market expectations and down 9 percentage points from a year earlier. Export census data showed that total wheat shipments totaled 2.453 million metric tons in September, slightly above August’s total and up ...

Source: Zol