USA: Grain prices August 3, 2023, wheat falls to 3-week low

Published Aug 3, 2023

Tridge summary

Chicago wheat futures dropped to a three-week low due to expectations of increased exports from Russia, which alleviated concerns caused by attacks on a Ukrainian port. Soybean prices decreased for the second consecutive session, while corn prices fell even more due to favorable weather conditions for crops in the US Midwest. The market has accounted for Ukraine's limited supply and is now focusing on Russian supplies.

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

Original content

Chicago wheat futures fell to a three-week low on August 3, 2023 as expectations of strong exports from Russia eased some concerns arising from attacks on an Ukrainian port. Soybean prices fell for a second session, while corn prices fell more as pressure from favorable weather for crops in the US Midwest weighed on prices. A trader in Singapore said that Ukraine's lack of supply has more or less been taken into account and the market is now looking to Russian supplies. Wheat fell 0.4% to $6.37-3/4/bushel, after hitting its lowest since July 13 to $6.35-1/4/bushel during the session. adjacent. Corn ...

Source: Vinanet