News

US: The price of wheat was also at a two-month high

Wheat
Maize (Corn)
Soybean
Canola Seed & Rapeseed
United States
Published Sep 23, 2022

Tridge summary

Overseas, a mixed picture emerged on the produce markets, but in Europe, one could see more pluses. In Chicago, wheat prices fell slightly by 0.1 percent and soybeans fell by 0.4 percent. Maize rose in price by 0.3 percent and rapeseed by 2.2 percent. In Europe, mill wheat, corn and rape also rose in price, but feed wheat closed in the red.

Original content

The price level of US wheat futures hit a two-month high on Thursday, which was caused by the risk of the deepening of the conflict in Ukraine and the dry weather in the agricultural areas of Argentina and the American plains, traders said. Commodity funds are net short in Chicago wheat futures, leaving the market exposed to short bursts. At the end of the day, there was a small loss. Corn futures followed wheat, while soybean prices fell. Wheat futures bucked pressure from a stronger dollar, which is making U.S. grain less competitive, disappointing weekly U.S. export sales and the International Grains Council's 2022/23 global wheat production forecast. Brokers appeared to be more focused on fears of further disruptions to the Black Sea grain trade. Russian President Vladimir Putin ordered mobilization on Wednesday. "It's mostly just Russia and Ukraine and what's going on there," Jack Scoville, an analyst at Price Futures Group in Chicago, said of CBOT wheat strength. Argentina's ...
Source: AgroForum
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.