USA: Chicago wheat, corn, and soybean futures rose on Monday
Wheat
Soybean
Maize (Corn)
United States
Published May 23, 2023
Tridge summary
On Monday, May 22, 2023, July wheat futures on the Chicago Mercantile Exchange (CBOT) strengthened as a round of profitable buying supported commodity prices. As a result of the trading day, the July quotations of soft winter wheat CBOT in Chicago rose to $222.30 per ton, the July futures of hard winter wheat KCBT in Kansas City - up to $303.41 per ton, the July futures of hard spring wheat MGEX - up to $297.44.
Original content
Futures for soybeans and corn in the US also rose on Monday. The Chicago Mercantile Exchange's benchmark wheat fell below $6 a bushel for the first time in more than two years during overnight trading before turning higher. Against the background of expectations of a poor harvest of wheat in a number of States in the Great Plains, in particular, in Texas, the demand for Eastern European wheat from American millers has intensified. In particular, Viterra sold Polish wheat in May to Ardent Mills on the US East Coast. German wheat is also in demand. Corn and soybean futures posted their biggest gains on Monday after four losing streaks were reported last week. July soft red winter wheat futures on the Chicago Mercantile Exchange rose 1-1/4 cents to $6.06-1/4 a bushel. Prices bottomed at $5.96-1/4/bushel, the lowest for the most active contract since March 31, 2021 during overnight trading. After the close of trading, the USDA reported that estimates of the condition of US winter ...
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