USA: Grain prices on August 3, 2022

Published 2022년 8월 3일

Tridge summary

Soybean, wheat, and corn prices on the Chicago Mercantile Exchange have dropped due to improved crop conditions in the US and the resumption of grain exports from Ukraine. The USDA reported that the soybean and corn crops are in better condition than the previous week. Brazilian Agriculture Minister Marcos Montes announced that China has allowed exporters of Brazilian soybean meal to be granted within two months. The European Commission has reduced its forecast for the EU's corn harvest this year due to bad weather, and traders are closely monitoring the resumption of grain shipments from the Black Sea region, with the first ship carrying Ukrainian grain having set sail for Lebanon under a safe passage agreement.

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

Original content

Soybean prices on the Chicago Mercantile Exchange fell to their lowest level in nearly a week after a US government report showed improved crop conditions. Wheat and corn prices fell more than 1% as Ukraine resumed maritime grain exports, raising hopes of higher world supplies. On the Chicago Mercantile Exchange, the soybean contract fell 0.5% to $13.99 a bushel. Wheat fell 1.5% to $7.88-1/2/bushel and corn fell 1.1% to $6.03-1/4/bushel The USDA pegged the soybean crop as 60% good to excellent, as of July 31, up 1 percentage point from a week earlier and in line with ratings from a year earlier. The corn crop was rated 61% good to excellent, unchanged from a week earlier but well above expectations given its 60% fair to excellent rating. Brazilian Agriculture Minister Marcos Montes said that China allows exporters of Brazilian soybean meal can be granted within two months. The European Commission has lowered its monthly forecast for this year's corn harvest in the European ...

Source: Vinanet