HRW wheat gains another 1.5% in Chicago, United States

Published May 25, 2024

Tridge summary

SRW wheat prices in Chicago are experiencing volatility, unable to surpass $7/bu. HRW varieties, meanwhile, are surging due to concerns over 2024 wheat production in Russia, Ukraine, and other key regions like France and Germany, where adverse weather is expected. Additionally, wet conditions in the Corn Belt and a severe water deficit in Brazil are causing worry. Despite these concerns, SRW wheat prices fell by $0.75c/bu to $6.97/bu, while corn futures for July 2024 rose 0.75 c$/bu to $4.65/bu, and soybeans for the same period increased by 8.75 c$/bu to $12.48/bu.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

SRW wheat prices continued to move without a clear trend this Friday evening in Chicago, blocked by the psychological barrier of $7/bu, while HRW varieties continued their rapid rise. Fears regarding 2024 wheat production in Russia and Ukraine are maintaining strong tension in the market, also accentuated by unfavorable weather conditions in France and Germany. The showers which continue to fall in the Corn Belt also remain a subject of concern for American farmers, in the middle of the sowing period. The rapidly growing water deficit in Brazil also risks degrading the potential of the country's second corn ...
Source: TerreNet
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