USA: Wheat rose, corn and soybeans fell on Tuesday

Published 2024년 11월 20일

Tridge summary

The wheat market saw a rally on November 19, 2024, due to increased tensions in the Black Sea, leading to short covering. Wheat prices for December settlement ranged from $202.00 to $215.50 per ton. However, corn futures for December settled at $4.27-1/4, down 2 cents due to the completion of the U.S. corn harvest. Soybean futures also fell due to progress in planting, favorable weather in Brazil, and a decline in soyoil prices. Meanwhile, the EU saw a decrease in soft wheat exports, totaling 8.79 million tonnes from July 1 to November 17, a decrease of 3.87 million tonnes from the same period last year.

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

Original content

The wheat market rallied again on Tuesday, November 19, 2024, as escalating tensions in the Black Sea provided an opportunity for short covering. Chicago Board of Trade soft winter wheat for December settled at $202.00 per ton, Kansas City hard winter wheat for December settled at $205.12 per ton, and Minneapolis hard spring wheat for December settled at $215.50 per ton. Chicago SRW futures for December settled at $5.49-3/4, up 2 ½ cents. Kansas City HRW futures settled at $5.58-1/4, up 3 cents. Minneapolis spring wheat settled at $5.86-3/4, up 1 ¾ cents. After President Biden cleared Ukraine to use U.S. long-range missiles in Russia over the weekend, Ukraine sent several U.S. ATACMS missiles to the Russian border overnight. Winter wheat conditions in the United States are better than expected, with rains improving conditions in the Great Plains grain belt, the U.S. Department of Agriculture said Monday. The next seven days are likely to be dry across much of the Southern Plains. ...

Source: Zol