Global grain market: Soybeans and corn rose on Monday, and wheat rose slightly in Chicago

Published Feb 13, 2024

Tridge summary

On February 13, 2024, wheat futures on the Chicago Board of Trade (CBOT) increased due to a weakened US dollar, but were mostly lower due to weak export demand and competition from the Black Sea region. Soybean futures also firmed due to bargain buying and a weaker dollar, while corn futures rose amid consolidation and technical buying. However, the French grain market declined, with March quotes for milling wheat on the Paris MATIF exchange dropping. In currency exchange, 1 Euro is equivalent to 97.9364 rubles, 1 Canadian dollar is equivalent to 67.4910 rubles, and 10 South African rand is equivalent to 47.8085 rubles.
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

On Monday, February 13, 2024, wheat futures on the Chicago Board of Trade (CBOT) rose as the US dollar weakened. At the end of the trading day, March soft winter wheat quotes on the Chicago Mercantile Exchange CBOT rose to $219.26 per ton, March hard winter wheat KCBT futures in Kansas City decreased to $221.01 per ton, March durum spring wheat futures MGEX in Minneapolis decreased to $251.41 per ton. Chicago Board of Trade soybean futures firmed on Monday amid bargain buying and a weaker U.S. dollar, but remained near multi-year lows as near-term contracts struggled to clear technical resistance. Corn futures rose amid consolidation and technical buying as news of weekly U.S. export inspections was at the upper end of trade expectations. But timely and heavy rains in Argentina over the weekend, as well as expectations of a larger corn harvest in South America, weighed on the market. Consultancy AgRural on Monday raised its forecast for second-crop corn production in Brazil in the ...
Source: Zol
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