Between November 25 and December 2, the futures market for wheat in the US and Europe developed in the same direction. During the week, on the stock exchanges in Paris, Chicago and London, wheat quotes went up and down, but on the last day of trading, on Friday, all wheat fell from its values last week, KazakhZerno.kz reports.
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On Friday, wheat on the Chicago Mercantile Exchange increased its fall and reached a new 3-month low in it, or rather the price of the most active contract on August 19 ($7.61 per bushel, -2.8% from Thursday). American traders face fierce competition in the world market: wheat is sold from the Black Sea ports at a lower price. It became cheaper even though the Canadian harvest will be less than previously predicted due to the drought. Corn also fell and soybeans rebounded, largely due to China's easing of anti-COVID restrictions amid a wave of protests that swept across the country. For the week from November 25 to December 2, on the Chicago Stock Exchange (SWOT), wheat contracts fell from $7.75 to $7.37/bushel, or by 4.90% ($270.77 per ton). Corn fell from $6.68 to $6.35/bushel, or by 4.94% ($248.98 per ton). Soybeans rose from $14.36 to $14.38/bushel, or by 0.14% ($528.60 per ton). Dynamics of the global futures market, SWOT In Europe, over the same period, on the LIFFE exchange ...
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