Wheat futures rise in the US

United States
Market & Price Trends
Maize (Corn)
Grains, Cereal & Legumes
Published Nov 28, 2023

Tridge summary

US wheat prices rose as speculative investors who had bet on lower prices closed their positions and bought back their contracts. Grain leaving Ukraine through the Black Sea has been decreasing as the Russian naval fleet was reportedly pushed out of the region by Ukrainian forces. Winter wheat conditions in the US have improved from last year, with half of the crop rated as good or excellent. Additionally, soybean prices rose after a slow planting rate in Brazil due to droughts and floods.
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

Wheat has been dwindling as more grain leaves Ukraine through its humanitarian corridor – a section of the Black Sea where ships have been moving freely for weeks. Russia exited the Black Sea Grain Initiative, which allowed ships to sail the waterway without fear of attack, in mid-July. Since then, however, Ukrainian forces have reportedly pushed the Russian naval fleet out of the region, allowing ships to enter and leave several Ukrainian ports along the Black Sea. In the US, winter wheat conditions have increased considerably from the same point last year. Half of the crop was in good or excellent condition on Sunday, up from 48% the previous week and well above the 34% that achieved top ratings during the same week a year ago, the U.S. Department of Agriculture said in a report. About 91% emerged early in the week, up from 87% seven days earlier and above the previous ...
Source: Agrolink
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