US cereals accelerate upwards in Chicago

Published Mar 14, 2025

Tridge summary

US stock prices in Chicago rebounded due to positive demand data for wheat and soybeans. Wheat and soybean sales exceeded market expectations, but corn sales did not meet expectations and soybean meal sales were lower than anticipated. The market was also influenced by reduced harvest estimates for corn and soybeans in Argentina, and an increased harvest estimate in Brazil. However, the market remains uncertain due to US trade wars and ceasefire negotiations in Ukraine. As a result, prices for SRW wheat, corn, and soybeans for May 2025 delivery increased.

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

Original content

US stock prices rebounded quickly this Thursday evening in Chicago, aided by positive demand data. US weekly wheat (783 kt) and soybean (752 kt) sales notably climbed last week, above market expectations. Corn sales, however, remained stuck at the lower end of the consensus range (752 kt), while soybean meal sales fell short of expectations (185 kt). The trend also strengthened after the Rosario Stock Exchange reduced its estimate for Argentina's corn harvest this year by 1.5 million tonnes (44.5 million tonnes). Soybean production was also lowered by 1 million tonnes (46.5 million tonnes). Conab, however, raised its Brazilian harvest estimate by 1.4 million tonnes to a new all-time high of 167 million tonnes. The market, however, remains characterized by considerable uncertainty in the face ...

Source: TerreNet