Closing of the week with open upward purchase offers for soybeans in the US

Published May 18, 2024

Tridge summary

The article provides an overview of the agricultural market in Chicago, focusing on the pricing and delivery of key crops such as wheat, corn, and soybeans. It highlights the current market prices and the trends in the market. Wheat prices have reached $235,000/t for available unloading and $235/t for contractual delivery in December. Corn open price is $150,000/t, and soybeans have the best offer at $272,000/t. The market has seen mixed results, with wheat experiencing a downward trend after crop tours projected above-average yields in Kansas. Corn has concluded the session in negative territory due to projections of a brief dry window in producing regions, followed by rain. Soybeans have finished mixed, with nearby contracts adjusting increases due to concerns about crop losses caused by flooding in southern Brazil.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In this way, the offer for wheat with available unloading reached $235,000/t, with delivery in December falling to US$235/t. Then, $150,000/t was the open price offered for corn and for contractual delivery. As for soybeans, the best offer for the oilseed with contractual discharge adjusted upwards to reach $272,000/t. In the Chicago market, contracts closed with uneven balances. Wheat concluded the downward wheel after the crop tour this week projected above-average yields in Kansas, one of the main winter wheat producing states in the United States. Then, projections of a brief dry window in the producing regions during the weekend before the arrival of rain next week, led corn to conclude the ...
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