US: Wheat fell, but soybeans and corn strengthened
Wheat
Soybean
Maize (Corn)
United States
Published Oct 26, 2022
Tridge summary
Mixed balance for agricultural commodities in Chicago; dollar weakness supported gains for soybeans and corn.
Original content
The closing of the Chicago market left mixed prices for cereals and oilseeds: soybeans and corn strengthened due to the greater demand for exports and wheat fell due to the increase in cereal shipments in the Black Sea. During the round, wheat fell to a one-month low, held back by rain expected in the dry US and Argentine crop belts, coupled with ongoing active exports from the Black Sea. In this context, the Curales de Rosario Stock Exchange (BCR) pointed out that slow wheat exports from the US, added to competitive Russian and Ukrainian prices, have hovered over prices, driving prices down: it lost more than 2 dollars in the day. Concerns that the United Nations-backed secure shipping corridor from Ukraine may not extend beyond November continue to weigh on the market and have tipped some future positions to the upside to close. Soybeans extended slight gains and closed with nearly $4 gains. It was influenced by two price effects. On the one hand, the market imposed supply ...
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