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The United States: Prices have fallen due to Chinese demand concerns

Soybean
Published May 11, 2022

Tridge summary

Monday's trading in crop markets brought minuses in America and mixed markets in Europe. In Chicago, wheat was 1.6 percent cheaper, corn 1.4 percent, soybeans 2.2 percent, and canola 1.3 percent cheaper compared to Friday. On our continent, the price level of rapeseed and feed wheat has risen, while milled wheat and corn have become cheaper.

Original content

In America, Monday's trading in crop markets was mixed, while in Europe it was mixed. In Chicago, wheat was 1.6 percent cheaper, corn 1.4 percent, soybeans 2.2 percent, and canola 1.3 percent cheaper compared to Friday. On our continent, the price level of rapeseed and feed wheat has risen, while milled wheat and corn have become cheaper. Chicago soybean futures fell to a five-week low on Monday as warmer weather in the U.S. accelerated sowing progress, easing fears of a decline in soybean acreage and a further reduction in corn sowing, traders said. Wheat prices continued to be supported by droughts in the United States and France, reinforcing global supply concerns. Delayed corn sowing in cold, wet conditions has prompted some traders to switch to soybeans, but improving conditions in much of the midwestern United States have accelerated sowing progress, said Dan Smith, senior risk manager at Top Third Ag Marketing. Global markets have increased pressure as crude oil prices fell ...
Source: AgroForum
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