Wheat is at a three-month low due to Chinese protests
Canola Seed & Rapeseed
Soybean
Maize (Corn)
Wheat
United States
Published Nov 29, 2022
Tridge summary
Sellers dominated the crop markets on the first trading day of the week. In Chicago, wheat became cheaper by 2.1 percent, corn by 0.1 percent, soybeans rose by 1.4 percent, and rapeseed prices stagnated. In Europe, the rates of all four priority agricultural products, mill wheat, corn, rapeseed and fodder wheat, closed in the red.
Original content
Wheat prices in Chicago fell to a three-month low on Monday, as commodity and stock markets fell on the impact of rare protests against China's strict COVID-19 policies. Analysts and traders say cheap shipments from Russia and elsewhere in the Black Sea are increasing competition for U.S. wheat, and prices have fallen so low they are encouraging technical-based selling. Chicago wheat prices have not been this cheap since August 22. Investment funds likely expanded their short positions speculating on price declines due to such low wheat prices, while last week's modest rainfall may have improved winter wheat growing conditions in parts of Texas and Oklahoma, said Terry Reilly, senior commodity market analyst at Futures International. The price of corn was mixed, trading movements involving simultaneous corn purchases and wheat sales may have underpinned the price movement, which ended slightly in the red, Reilly said. Soybeans rose almost 1.5%, supported by a report from the US ...
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