USA: Grain prices substantially lower

Published 2022년 7월 12일

Tridge summary

The USDA's July World Agricultural Supply and Demand Estimates report led to a significant drop in grain prices, with corn futures experiencing the largest decline of over 6%. Wheat and soybean contracts also fell by 4-5% and 3% respectively. The lack of rainfall forecasted for the central U.S. in the coming days and the strong U.S. Dollar further impacted commodity prices. The report also highlighted changes in production and export forecasts for corn, soybeans, and wheat. Additionally, the article covered the agricultural news, including France's expected soft wheat production decrease, Lebanon's plans to import wheat from Russia and Ukraine, and the progress of the winter wheat harvest.

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

Original content

USDA released its July World Agricultural Supply and Demand Estimates report this morning, and a set of generally unhelpful data triggered a round of technical selling that pushed grain prices substantially lower. Corn futures were hit the hardest after tumbling more than 6% lower. Most wheat contracts lost 4% to 5% today, while soybeans slid 3% lower. Click here for our exclusive coverage and analysis of today’s report. Not much rain is expected across the central U.S. between Wednesday and Saturday, although a very small part of the upper Midwest could gather up to 1” over the next three days, per the latest 72-hour cumulative precipitation map from NOAA. The agency’s 8-to-14-day outlook predicts more seasonally dry weather for much of the Midwest and Plains between July 19 and July 25, with widespread hotter-than-normal conditions likely during this time. On Wall St., the Dow trended 41 points higher in afternoon trading to 31,214 as investors seem to be in a pattern of ...

Source: Prairie Grain Partners