Wheat prices continue to slump lower in United States
Maize (Corn)
Soybean
Wheat
United States
Published Jun 28, 2022
Tridge summary
Grain prices were mixed but mostly lower as positive momentum seems hard to come by these days. That’s especially true for wheat, which spilled another 2% to 2.75% lower today as harvest progress across the Northern Hemisphere continues to erase worries over tight global stocks. Corn prices also trended lower, due in large part to farm-friendly forecasts as June winds to a close. Soybeans bucked the overall trend, firming nearly 1.5% as old crop stocks remain quite tight.
Original content
Outside of Minnesota, Wisconsin and Michigan, almost no measurable moisture is expected to land on the central U.S. between Tuesday and Friday, per the latest 72-hour cumulative precipitation map from NOAA. The agency’s 8-to-14-day outlook predicts a return to seasonally wet weather for parts of the Corn Belt between July 4 and July 10, with plenty of warmer-than-normal conditions likely next week. On Wall St., the Dow tilted 59 points lower in afternoon trading to 31,441 as investors struggle to determine whether stocks are currently oversold or not. Energy futures were mixed. Crude oil firmed nearly 2% higher this afternoon to surpass $109 per barrel. In contrast, diesel crumbled 3% lower, with gasoline down 1.25%. The U.S. Dollar softened moderately. On Friday, commodity funds were net buyers of corn (+9,500), soybeans (+7,500), soymeal (+3,000) and soyoil (+5,000) contracts but were net sellers of CBOT wheat (-5,000). Corn prices faded on favorable weather forecasts, which ...
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