News

USA: Chicago ends the week in sharp decline

Maize (Corn)
Published Feb 25, 2024

Tridge summary

The American agricultural market experienced significant losses this week, with soybean, wheat, and corn sales all falling below or at the lower end of market expectations. The Buenos Aires Stock Exchange reported a positive impact of recent rains on Argentina's corn ratings. However, the continued influence of Brazilian soybeans is driving down bean prices in both international and domestic American markets. As a result, SRW wheat, corn futures, and soybeans for May 2024 all saw a decrease in prices at the Chicago close.
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

The American market ended the week with notable losses on Friday evening. American international soybean sales fell significantly below market expectations last week, at only 56 kt. Wheat sales also missed the consensus (234 kt), while corn sales fell within the lower range of expectations (820 kt). The Buenos Aires Stock Exchange also confirmed the positive impact of recent rains in Argentina in its latest weekly bulletin, with “good to excellent” corn ratings notably rising by one point to 28%. Competition from Brazilian soybeans internationally, and even on the domestic American market, also continues to drive down the prices ...
Source: TerreNet
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