News

Closing of the week with upward offers for available corn

Maize (Corn)
Market & Price Trends
Published Apr 20, 2024

Tridge summary

The article highlights a significant rise in the market prices for key agricultural commodities, with corn, wheat, and soybeans experiencing notable increases to $155,000/t, $190,000/t, and $250,000/t respectively. This surge is attributed to the market's reaction to geopolitical tensions following an Israeli missile attack on Iran, sparking fears of an escalation in the Middle East. The incident has particularly influenced the wheat market, while corn and soybeans also saw price jumps due to strategic purchases and position adjustments by traders. The Chicago market recorded higher closing contracts for these commodities, reflecting the broader market's sensitivity to international developments.
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

In this way, the offer for corn with available delivery rose to values of $155,000/t, while $190,000/t was again the open price offered for wheat and for the same segment. Regarding soybeans, offers rose to $250,000/t for the oilseed with contractual delivery. In the Chicago market, contracts closed higher. After the Israeli missile attack on Iran was reported, concerns were revived about an escalation of war in the Middle East, which led to wheat contracts rising. In this context, corn also recorded gains in its futures thanks to opportunity purchases after the falls ...
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