News

USA: Corn turned back from the three-year low again

Wheat
Published Feb 29, 2024

Tridge summary

Basically, rising prices could be seen on Tuesday's trading day in the crop markets. In Chicago, wheat went up by 1.8 percent, corn by 0.8 percent, and canola by 1.5 percent, compared to the previous day. In Europe, mill wheat became cheaper, but the price of corn, rapeseed and fodder wheat also closed in surplus. Chicago corn futures rose for a second straight session on Tuesday, extending a slight recovery from the lowest level in more than three years. Bargain buyers entered the maize market as low prices boosted end-user demand, traders said.
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

Basically, rising prices could be seen on Tuesday's trading day in the crop markets. In Chicago, wheat went up by 1.8 percent, corn by 0.8 percent, and canola by 1.5 percent, compared to the previous day. The price of soybeans decreased by 0.2 percent. In Europe, mill wheat became cheaper, but the price of corn, rapeseed and fodder wheat also closed in surplus. Chicago corn futures rose for a second straight session on Tuesday, extending a slight recovery from the lowest level in more than three years. Soybean futures closed in the red after earlier gains. Bargain buyers entered the maize market as low prices boosted end-user demand, traders said. The contract for next month jumped on Monday after falling to its lowest level since November 2020. Technically-based buying and short selling helped extend the rally, with speculators holding large short positions, traders said. Abundant global corn supplies mean limited progress as the U.S. faces stiff competition from global grain and ...
Source: AgroForum
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