US wheat continues another session of losses

Published Jun 16, 2024

Tridge summary

Wheat prices in Chicago are experiencing a decline due to the rapid harvest progress and better yield returns in the United States, as well as the rapid sowing of wheat in Argentina and early work in the Black Sea. The Dollar Index's strength is also contributing to the downward trend in corn and soybean prices. Additionally, concerns about rising temperatures in the Corn Belt and a heat wave in China are causing market anxiety. At the Chicago close, the SRW wheat due July 2024 contracted by $7.25c/bu, to $6.13/bu, while corn futures July 2024 fell from 8.5 c$/bu to 4.5 $/bu, and soya beans for July 2024 delivery fell by 9.75 c$/bu to $11.8/bu.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wheat prices remained stuck in negative territory this Friday evening in Chicago. The progress of the harvest in the United States is now accompanied by better-than-anticipated yield returns, which further support the trend. The rapid progress of wheat sowing in Argentina and the early start of work in the Black Sea are also contributing to the downward movement. Corn and soybean prices have also lost ground in response to the renewed strength of the Dollar Index, but rising temperatures in the Corn Belt are currently being observed with concern across the Atlantic. A heat wave in China and its potential damage to crops is also currently ...
Source: TerreNet
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.