News

World grain market: Futures for wheat, corn, and soybeans fell on Wednesday

Wheat
Turkiye
Tunisia
Published Aug 3, 2023

Tridge summary

Wheat futures on the Chicago Mercantile Exchange fell for the sixth consecutive session due to the ongoing US harvest and competition with Russian grains in the export market. Russian President Vladimir Putin expressed readiness to return to the Black Sea grain deal once the West fulfills its obligations regarding the export of its own grain. Soybean and corn prices also dropped as crop-friendly weather forecasts outweighed demand prospects.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

On Wednesday, August 03, 2023, Chicago Mercantile Exchange (CBOT) wheat futures fell for the sixth straight session after a sharp overnight rise. As a result of the trading day, September quotations of soft winter wheat on the Chicago Mercantile Exchange CBOT fell to $235.16 per ton, September futures of hard winter wheat KCBT in Kansas City - to $289.17 per ton, September futures of hard spring wheat MGEX - to $311, 95 per ton. Wheat prices declined for the sixth consecutive session as the US harvest continues and competition in the export market with Russian grains remains high. Russian President Vladimir Putin told Turkish counterpart Tayyip Erdogan on Wednesday that Moscow is ready to return to the Black Sea grain deal as soon as the West fulfills its obligations regarding the export of its own grain from Russia. The Egyptian State Food Procurement Agency (GASC) held an international tender for the purchase of wheat on Wednesday, which purchased 360,000 tons of wheat for ...
Source: Zol

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