US wheat jumps over 3%

Maize (Corn)
United States
Market & Price Trends
Published Apr 23, 2024

Tridge summary

Wheat prices in Chicago have surged over 3% to their highest since mid-February, driven by dry conditions in Russia and Europe's falling temperatures threatening winter crops. This increase also reflects on corn and soybean prices, with corn affected by reduced production forecasts in Argentina and robust U.S. port inspections, and soybeans also seeing a price uptick. Specifically, July 2024 delivery for SRW wheat closed at $5.88 per bushel, corn at $4.5, and soybeans at $11.77, marking significant increases across these commodities.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wheat prices rose more than 3% this Monday evening in Chicago, returning to their highest level since mid-February. Dry conditions in Russia and the absence of precipitation on weather maps are causing increasing concern in the market, while in Europe, it is falling temperatures that are now threatening winter crops. Corn prices have also started to rise again in the face of the loss of production potential in Argentina. Weekly corn inspections at U.S. ports also jumped above market expectations last week, to 1.62 Mt. Wheat (450 kt) and corn (435 kt) inspections, meanwhile, stood out in ...
Source: TerreNet
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