Global grain market: Wheat, corn and soybean futures fell on Friday but rose for the week

Published 2024년 9월 9일

Tridge summary

The wheat market experienced a decline on September 6, 2024, despite reports of poor harvests in Europe, especially in France, and improved moisture levels in Argentina's wheat crop. The decrease in U.S. wheat futures is attributed to cheap wheat from Russia and increased exports from Ukraine. The USDA reported total wheat export sales at 340,032 tons for the week ending Aug. 29. In addition, the article covers the closing prices for corn and soybean futures on the Chicago Board of Trade, the forecast of a significant drop in soft wheat yields in France, and the beginning of corn planting in Argentina for the 2024/25 crop.

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

Original content

On Friday, September 6, 2024, the wheat market was lower. By the end of the trading day, December soft winter wheat quotes on the Chicago Mercantile Exchange CBOT fell to $208.33 per ton, December hard winter wheat futures in Kansas City - to $212.19 per ton, December hard spring wheat futures in Minneapolis MGEХ - to $225.51 per ton. December wheat futures lost on Friday on three exchanges, but for the week they have risen. Futures in Chicago fell by 7 ¾ cents, but December futures have risen by 15 ½ cents since last Friday. Futures in Kansas City fell by 11 ¼ cents, for the week December has risen by 12 ¼ cents. Minneapolis spring wheat fell 12 cents, up 13 ¼ cents for the week. Wheat prices are supported by reports of poor harvests in Europe, especially in top producer France, where the smallest crop in 40 years is expected, as well as data showing that grain quality has declined due to heavy rains and limited sunlight during the growing season. However, cheap wheat from Russia ...

Source: Oilworld