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Grains Consolidate in Chicago

Published Jan 15, 2025

Tridge summary

Prices in the cereal and soybean complex in Chicago were disorganized on Tuesday evening due to the market's reaction to the recent USDA report showing decreased stocks of 24/25 corn and soybeans in the United States. Additionally, the market is monitoring weather conditions in Argentina, which could potentially benefit crop growth. The biofuel industry is facing challenges due to the impact of crude oil prices. Meanwhile, rumors of a more progressive pricing policy and reported sales of 198 kt of soybeans to China have helped reassure the market. At the Chicago close, prices for March 2025 SRW wheat, corn, and soybeans were all in flux.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Cereal and soybean complex prices moved in a scattered order on Tuesday evening in Chicago. The American market is now digesting the heavy gains recorded following the publication of the latest USDA report last Friday, in which 24/25 corn and soybean stocks in the United States were significantly revised downwards. Operators are also keeping a close eye on weather conditions in Argentina, where favorable rains for corn and soybean crops are now forecast in the short term. Crude oil prices weighed on the biofuel industry, showing a notable consolidation movement, after a rally that took the price of a barrel to its highest level in more than three months during the previous day's session. New rumors of a more progressive pricing policy than announced during Donald Trump's term reassured the markets on Tuesday. The USDA also confirmed ...
Source: TerreNet
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