News

USA: Prices for wheat, corn, and soybeans fell on Thursday

Soybean
Maize (Corn)
Wheat
United States
Published Dec 2, 2022

Tridge summary

On Thursday, December 01, 2022, wheat on the Chicago Mercantile Exchange CBOT fell due to disappointing export sales. As a result of the trading day, March quotations of soft winter wheat CBOT in Chicago fell to - $287.70 per ton, March futures of hard winter wheat KCBT in Kansas City fell to $327.11 per ton, March futures of hard spring wheat MGEX - to $344.65 .

Original content

The soybean market fell on Thursday after the US government proposed lower-than-expected biofuel requirements. The US Environmental Protection Agency has proposed lower than traders expected amounts of ethanol and other biofuels that refineries must add to their fuels over the next three years. Cheap supplies from Russia and Ukraine, as well as a favorable corn harvest prospects in Brazil were held back by wheat and corn futures. The Chicago Mercantile Exchange (CBOT) January soybean contract fell 39-3/4 cents, or 2.7%, to $14.29-3/4 a bushel. March CBOT wheat fell 12-1/2 cents to $7.83 a bushel amid fierce competition from supplies from Russia and the Black Sea countries, while corn fell 6-1/2 cents to $6.60-1/2 a bushel . The day before, soybeans and commodity markets were supported by signs that China loosen its covid restrictions. But the CBOT soybean oil shed more than 4% on Thursday, leading to larger losses in vegetable oil markets, with traders expressing disappointment ...
Source: Zol
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