Global grain prices on May 9: Corn, soybeans fell, wheat increased

Published 2022년 5월 9일

Tridge summary

The Chicago Mercantile Exchange reported an increase in wheat prices, driven by a tight global supply, while soybean and corn prices fell. Recent rainfall in Brazil might help its corn crop, and concerns over hot and dry weather in India and France could impact wheat exports. In Canada, Statistics Canada reported a decrease in the stocks of most crops at the end of March 2022 compared to the previous year. France's grain crop situation slightly improved but is expected to face damage from expected hot, dry weather later in the month.

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Original content

On the Chicago Mercantile Exchange, the wheat contract rose 2 cents to $11.08-1/2 per bushel and was up 4.99% weekly. Soybean and corn prices ended the week lower and extended their weekly losses. Chicago's most active soybean contract fell 25 cents to $16.22 a bushel, while corn fell 12-3/4 cents to $7.84-3/4 a bushel. In South America, recent rainfall could spur a corn crop in the south-central part of Brazil, which is forecast to be larger than expected. Meanwhile, wheat futures in Chicago rose due to tight world supply. In India, one of the world's largest wheat producers, wheat prices were bolstered by concerns that hot and dry weather could reduce the country's export potential, while similar conditions self-imposed impact on US winter wheat and concerns about rising European crop prices. Statistics Canada said Canada's stocks of most crops fell at the end of March 2022 compared with the same period in 2021. In France, Europe's largest grain producer and exporter said ...

Source: Vinanet