News

US wheat ends the week down 2%

Published May 18, 2024

Tridge summary

Wheat prices on the Chicago stock exchange have fallen due to high yield potential in Kansas, with further drops anticipated due to less rain predicted in Russia. Corn prices have also decreased, reaching their lowest level since the beginning of the month, despite excessive rain in the Corn Belt. In contrast, the soya complex has seen a significant increase in oil and bean prices. The Buenos Aires Stock Exchange has revised its estimate for Argentina's soybean harvest down by 500 kt, to 50.5 Mt.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wheat prices accelerated downward again this Friday evening on the Chicago stock exchange, in particular in reaction to the crop tour of recent days in Kansas, which revealed a particularly high yield potential this year. Weather maps in Russia, however, remain the center of attention, and now predict less rain than initially anticipated. Corn prices also suffered further notable losses, returning to their lowest level since the beginning of the month, despite still excessive rain recorded in the Corn Belt and forecast for the next seven days. The soya complex, on the other hand, stood out with a further strong increase in oil and bean prices. The Buenos Aires Stock Exchange also reduced its estimate for Argentina's ...
Source: TerreNet
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