Corn up 3¢. this Wednesday, July 17, 2024 in US

Published 2024년 7월 18일

Tridge summary

December corn and November soybeans have seen slight increases, while September wheat contracts are also up, driven by concerns over crop damage from a Midwest derecho and adverse weather in the Black Sea region. However, large supplies and uncertain Chinese demand limit gains. Wheat futures benefit from demand and short covering but face pressure from ample U.S. supplies and Russian competition. In livestock, August live and feeder cattle are down, whereas lean hogs are up. August crude oil has risen, the U.S. Dollar Index is down, and September S&P 500 futures have dropped, with a slight increase in September Dow futures.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

December corn is up 3¢ this morning. November soybeans are up 3½¢. All three September wheat contracts are up. CBOT wheat is up 8½¢. KC wheat is up 9¢. Minneapolis wheat is up 11¢. “Corn and soybean futures worked higher in early trade for a second straight session amid support from concerns about crop damage from Monday’s Midwest derecho and hot, dry weather in the Black Sea region,” said The Brock Report near the end of the overnight session. “Gains have been limited, though, by large supplies and uncertainty about Chinese demand. Wheat futures have been boosted by demand from major importers and technically-driven short covering, with gains limited by large U.S. supplies and stiff export competition from Russia.” August live cattle are down 65¢ this morning. August feeder cattle are down 90¢. ...

Source: UkrAgroConsult