US: Thursday with mostly bullish prices for corn

Published 2023년 3월 16일

Tridge summary

The article provides an overview of the agricultural market in Rosario, with a focus on the pricing and trade of key crops such as wheat, corn, soybeans, and sunflower. It highlights the current market trends and future outlook, including the reintroduction of sorghum open offers. The Chicago market's futures show a mixed performance for wheat, driven by optimism about a potential Black Sea grain shipment agreement extension, while corn futures see gains due to increased US export demand and delayed planting in Brazil. Soybean prices remain stable, influenced by domestic dynamism and concerns about drought in Argentina, with the Harvest Tracker providing insights into Brazil's progress. The local market prices are also reported, offering a snapshot of the current market situation.

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

Original content

In this way, for wheat with contractual delivery and for delivery between March and May, US$ 280/t was openly offered. Then, the offers for corn with unloading until March 31, were located at values of US$ 250/t, with the June position also rising to US$ 230/t. For their part, soybean proposals remained unchanged at $78,000/t for merchandise with immediate delivery and for fixings. He also highlighted the reincorporation of open offers for sorghum. In the Chicago market, futures ended the session with a mixed balance. Wheat contracts closed the day with losses, pressured by some optimism about the possible renewal of the grain shipment agreement in the Black Sea, although it remains to be defined whether it will be for 60 or 120 days. For its part, higher export demand for US corn led Chicago yellow beans to post gains in all their contracts. Likewise, second-tier corn planting delays in Brazil added additional support. For its part, soybeans closed the round with a mixed balance. ...

Source: Rural Net