Global grains: Wheat ended mixed, while corn and soybeans rose on Friday

Published 2024년 12월 23일

Tridge summary

Wheat markets saw mixed results on December 20, 2024, with Chicago, Kansas City, and Minneapolis wheat futures all experiencing gains. The rise in U.S. wheat futures snapped a three-day losing streak, driven by a weakening dollar and supported by strong export data. Meanwhile, European wheat futures suffered losses due to high global supplies. Additionally, corn futures also saw an increase, backed by a private export sale of 150,000 metric tons of corn to Colombia. Argentinian plantings for corn were up from the previous year, despite being below the planned hectares. Soybean futures experienced gains, aided by a strong rally in soybean meal prices and technical buying. Canadian canola exports exceeded last year's total by 2 million tonnes, and the European association COCERAL predicted a grain harvest of 297.8 million tons in the EU and the UK for 2025, an increase from the previous year's harvest.

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

Original content

Wheat markets were mixed on Friday, December 20, 2024. Chicago Mercantile Exchange March soft winter wheat futures settled at $195.84 per ton, Kansas City Hard Winter Wheat Futures for March rose to $200.16 per ton, and Minneapolis Hard Spring Wheat Futures for March settled at $216.88 per ton. Chicago SRW Futures for March settled unchanged at $5.33. Kansas City HRW Futures for March settled at $5.44-3/4, up 1 ½ cents. Minneapolis Spring Wheat Futures for March settled at $5.90-1/4, up 3 ½ cents. U.S. wheat futures rose on Friday, snapping a three-day losing streak as the dollar weakened against other currencies, while European wheat futures extended losses amid ample global supplies. Export sales data showed wheat and milled products shipped at 11.316 million tonnes, up 29% from a year earlier and 48% above the USDA’s new forecast. Commitments total 16.317 million tonnes, up 9% from a year earlier and 71% above the USDA’s marketing-year export target. Russia’s official export ...

Source: Zol