Corn and wheat prices in United States rise on new Black Sea aggression

게시됨 2022년 12월 12일

Tridge 요약

Grain prices were mixed but mostly higher at the start of the week, with wheat prices seeing the biggest increase following an attack on a Ukrainian port over the weekend. Corn prices were also firm, rising around 1%, while soybean prices suffered a double-digit setback due to bullish production weather in South America. Ample rain and snow are expected in the Midwest and Plains in the coming days. Energy prices also trended higher, with crude oil climbing 3% to $73 per barrel and the U.S. Dollar firming moderately. Commodity funds were net buyers of corn and soymeal contracts but net sellers of soybeans, wheat, soyoil, and CBOT wheat. China's corn production improved by 1.7% year-over-year to 10.913 billion bushels, and plantings jumped nearly 22% higher, while soybean imports reached 745.9 million bushels.

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원본 콘텐츠

Grain prices were mixed but mostly higher to start the week. Wheat prices saw the biggest boost following an attack at a Ukrainian port over the weekend. Corn prices were also firm, rising around 1% by the close. Soybeans failed to follow suit, after timely rains in South America spurred some technical selling that led to losses of around 1.5%. Ample rain and snow is expected across the Midwest and Plains between Tuesday and Friday, with a large portion of the region likely to gather at least another 1” or more during this time, per the latest 72-hour cumulative precipitation map from NOAA. The agency’s new 8-to-14-day outlook predicts more seasonally wet weather for the Northern Plains between December 19 and December 25, with much colder-than-normal conditions likely in the week leading up to Christmas. Last week on Wall St. was rough, but today, the Dow climbed 374 points in afternoon trading to 33,850 as traders brace for the next round of inflation data and the next Federal ...

출처: Prairie Grain Partners