Global grain market: Prices for wheat, corn, and soybeans continued to rise on Monday

Published 2024년 11월 19일

Tridge summary

The wheat market saw a rise on November 18, 2024, with futures increasing across various boards, including Chicago, Kansas City, and Minneapolis, following the Biden administration's authorization of long-range strikes by Ukraine. Despite being 2% behind the average, the U.S. winter wheat planting was 94% completed as of November 17. However, wheat export inspection figures showed a significant drop from the previous week. Meanwhile, corn futures also experienced a rise, driven by a increase in wheat futures. Soybean futures also rose due to a variety of factors, but gains were capped by favorable weather in Brazil and lower soybean oil prices. The French wheat market also saw growth.

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

Original content

On Monday, November 18, 2024, the wheat market continued to rise. December soft winter wheat quotes on the Chicago Board of Trade CBOT rose to $201.08 per ton, December hard winter wheat futures in Kansas City - to $204.02 per ton, December hard spring wheat futures in Minneapolis MGEХ - to $214.95 per ton. December SRW futures in Chicago closed at $5.47-1/4, up 10 ¾ cents. HRW futures in Kansas City closed at $5.55-1/4, up 15 ¼ cents. Minneapolis spring wheat closed at $5.85, up 12 ¾ cents. World wheat futures rose Monday, November 18, after the Biden administration announced it had authorized Ukraine to launch long-range strikes into Russia using U.S.-supplied missiles. The NASS weekly Crop Progress report showed U.S. winter wheat planting was 94% complete as of November 17, 2 percentage points behind the average, with 84% of fields emerging. The export inspection report showed that only 196,281 metric tons of wheat were shipped in the week ending November 14. That was down ...

Source: Zol