Global grain market: Wheat, corn, and soybeans rose in price on Thursday

Published 2024년 8월 30일

Tridge summary

The wheat market saw a rise in futures on the Chicago Mercantile Exchange on Thursday, August 29, 2024, with December soft winter wheat quotes increasing to $201.63 per ton, hard winter wheat futures in Kansas City reaching $205.95 per ton, and hard spring wheat futures in Minneapolis rising to $216.97 per ton. This increase is attributed to concerns about the grain harvest in Western Europe and increased U.S. and European milling wheat contracts. In addition to wheat, U.S. corn futures also rose due to worsening drought in corn-growing areas, and soybean futures increased after U.S. export sales data exceeded expectations. The French wheat market also experienced growth, with December milling wheat quotes on the Paris MATIF exchange rising to €215.75 per ton.

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

Original content

On Thursday, August 29, 2024, the wheat market continued to rise. By the end of the trading day, December soft winter wheat quotes on the Chicago Mercantile Exchange CBOT rose to $201.63 per ton, December hard winter wheat futures in Kansas City - to $205.95 per ton, December hard spring wheat futures in Minneapolis MGEХ - to $216.97 per ton. U.S. exchanges will be closed on Monday, September 2, in connection with the Labor Day holiday. Wheat futures ended Thursday's session with gains on all three exchanges. December CBOT wheat futures in Chicago rose by 7¼¢. Wheat in Kansas City rose by 4¾¢. Wheat in Minneapolis rose by 6¾¢. US and European milling wheat contracts rose for a third straight day on Thursday, amid ongoing concerns about the grain harvest in Western Europe and a government report showing net sales and exports to the US rose. The export sales data showed 532,079 tonnes of all wheat sales for the week ending Thursday, August 22. It was the largest sales total in six ...

Source: Zol