USA: Wheat became even cheaper amid demand concerns
Wheat
Published Mar 16, 2024
Tridge summary
In America, a mixed picture could be seen on the last trading day of the week in the crop markets, while in Europe, sellers dominated. In Chicago, wheat became cheaper by 0.5 percent, canola by 0.3 percent, corn by 0.9 percent, and soybeans by 0.2 percent more than the previous day. Chicago wheat futures weakened on Friday as abundant global supply and weak demand remained in the market. Soybean futures closed higher after a choppy day of trading, recovering from the previous day's decline. After confirmation of private sales of 125,000 tons of US corn for the 2023/24 crop year, corn futures moved higher.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
In America, a mixed picture could be seen on the last trading day of the week in the crop markets, while in Europe, sellers dominated. In Chicago, wheat became cheaper by 0.5 percent, canola by 0.3 percent, corn by 0.9 percent, and soybeans by 0.2 percent more than the previous day. In Europe, the course of mill wheat, corn and fodder wheat also closed in surplus, but the value of canola decreased. According to analysts, Chicago wheat futures weakened on Friday as abundant global supply and weak demand remained in the market. Soybean futures closed higher after a choppy day of trading, recovering from the previous day's decline. After confirmation of private sales of 125,000 tons of US corn for the 2023/24 crop year, corn futures moved higher. The sales followed an announcement on Thursday that 100,000 tonnes of US corn had been sold to Mexico. Wheat futures fell for the third week amid demand concerns. The US Department of Agriculture (USDA) recently confirmed in its daily ...
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