Tridge summary
The US market saw mixed trends in commodities prices, with an increase in corn prices due to higher than expected weekly inspections at ports. However, the market is experiencing pressure from high corn and soybean production prospects in South America. Wheat prices were stable, influenced by Southern Hemisphere harvests and concerns over growing conditions in Russia. Saudi Arabia's purchase of 804 kt of soft wheat also impacted the market. By the end of the day in Chicago, wheat prices fell, while corn prices rose, and soybean prices dropped.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The US market started the week in a mixed order according to commodities, with nevertheless a notable increase in corn prices. Weekly corn inspections in US ports were indeed at the high end of market expectations last week (1.13 Mt), while wheat (298 kt) and soybean (1.68 Mt) inspections remained in line with the consensus. However, the trend remains heavy across the Atlantic, given the high corn and soybean production prospects in South America. Wheat also moved hesitantly on Monday evening, still torn between the pressure of the Southern Hemisphere harvests and the anticipated slowdown in Russian exports during the second part of the campaign. However, growing conditions in Russia are increasingly causing concern in the market. Saudi Arabia also gave some support to the trend by concluding its call for tenders with the purchase of a ...
Source: TerreNet
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