Global market with prices between stable and bullish for coarse grains

Published Mar 12, 2024

Tridge summary

The article provides an overview of the current market prices for various crops such as wheat, corn, soybeans, sunflower, and sorghum, highlighting the influence of global availability, export market competition, and weather conditions on these prices. It notes mixed results in the Chicago market, with wheat and corn closing unevenly due to diverse factors. Meanwhile, adverse weather conditions in Brazil have resulted in soybeans closing in positive territory.

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

Original content

Regarding quotes, the offer for wheat with contractual delivery was found at $170,000/t, while $140,000/t was the open price offered for corn and for available unloading. Regarding oilseeds, the offer for soybeans was $235,000/t for the merchandise with immediate, contractual delivery and for fixings. Finally, for available sunflower we had proposals of $240,000/t, while sorghum was found at $150,000/t for the same segment. In the Chicago market, Chicago futures ended in mixed territory. Wheat ended the day with disparity in its futures. The wide global availability of cereals and tough competition in export markets put pressure on quotes, while the reduction in grain production in Ukraine added to the excessively humid weather in France supported the rest of the positions. For its part, corn also closed unevenly with ...

Source: Chacra Magazine