USA: Soybeans hit their highest prices in 2 months

Published 2024년 9월 30일

Tridge summary

Weather conditions are impacting the market prices for various crops including wheat, corn, rapeseed, oats, and soybeans. Soybeans have experienced the most significant price increase on the Chicago Stock Exchange, reaching a two-month high due to weather conditions affecting sowing in several areas. Wheat and corn prices have also risen due to dry weather conditions in key sowing areas. Oats and rapeseed prices have also increased, with a noted decrease in the 2024 rapeseed harvest forecast for the European Union.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Weather conditions in the fields are influencing the evolution of prices for wheat, corn, rapeseed, oats and soybeans Soybeans have been the main protagonist of this week, from 23 to 29 September, which is marked by increases in all productions conditioned by the weather evolution that is influencing sowing in a good part of the areas. Soybeans have reached, on the Chicago Stock Exchange, the best price of the last two months, so that they have risen by almost 18 euros in the last week, so that the contracts closed for the month of November have been placed at 350.64 euros per tonne. The market is waiting for the rains that may fall in the northern areas of Brazil where the dry weather has caused the sowing of this oilseed to be slower than usual. Wheat has risen by 5 and almost 4 euros in the markets of Paris and the United States. In the case of the Parisian trading floor, after this increase, the price of the contracts closed for the month of December has reached 221 euros per ...

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