Corn and soybean prices also fell ahead of the report
Maize (Corn)
Market & Price Trends
Published Mar 29, 2024
Tridge summary
The article provides an overview of the recent trends in the agricultural commodity markets across the Americas, Europe, and Chicago, noting mixed performances in the prices of key crops such as wheat, corn, soybeans, and canola. In Chicago, there were slight increases in the prices of wheat, corn, and soybeans, contrasted by a decrease in canola prices. European markets experienced a drop in mill wheat, corn, and rapeseed prices, but saw an increase in fodder wheat prices. The article highlights traders' anticipation of the US Department of Agriculture's (USDA) forthcoming reports on quarterly grain inventories and expected plantings, which are currently influencing market positions. It also discusses the impact of global factors including tensions in the Black Sea region, an abundant supply, a decline in Chinese demand, and an expected large wheat harvest from Russia on the market dynamics.
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
Rather, the minuses dominated the crop markets in the Americas and on their continent as well. In Chicago, wheat went up by 0.7 percent, corn by 1.4 percent, soybeans by 0.6 percent, and canola by 1.7 percent less than the previous day. In Europe, the price of mill wheat, corn and rapeseed also decreased, but the price of fodder wheat closed in surplus. Chicago corn and soybean futures also fell on Wednesday as traders adjusted positions ahead of the US Department of Agriculture's (USDA) quarterly grain inventories and expected plantings reports due on Thursday. Traders are focusing on U.S. planting intentions after farmers harvested a record corn crop last year, pushing corn futures to a three-year low in 2024. Soybean futures also fell to a three-year low this year. Analysts predict U.S. corn and wheat plantings will decline and soybeans will increase from 2023, while inventories of all three crops are higher than a year ago as of March 1. Wednesday's trading was driven by ...
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