USA: Wheat prices recover from 17-month low

Updated Mar 10, 2023
Chicago wheat prices rose for the first time in three sessions as the market recovered from a 17-month low on support from a drought that is limiting U.S. output potential. Soybean prices were mostly flat, helped by a drought that reduced production in Argentina. On the Chicago Mercantile Exchange, wheat rose 0.4 percent to $6.97-3/4 per bushel after sliding to its weakest since September 2021. Soybean prices were unchanged at $15.29 per bushel and corn prices rose 0.2 percent to $6.38 per bushel. The U.S. Department of Agriculture's National Agricultural Statistics Service (USDA) in a weekly crop report rated 17% of winter wheat at top producer Kansas in good to excellent condition, down from good to excellent. 19% a week earlier. Wheat gains were limited by expectations that the Black Sea grain corridor agreement would be extended. Russian wheat prices fell last week and the Turkish foreign minister said Ankara was working to renew a safe transport agreement allowing ...
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