World grain market of soybeans fell by 1.6% amid profit-taking; wheat prices rose on Friday

Published 2024년 3월 25일

Tridge summary

US wheat futures saw a rise on March 22, 2024, with soft winter wheat on the Chicago Mercantile Exchange CBOT increasing to $203.83 per ton, hard winter wheat KCBT in Kansas City to $216.97 per ton, and hard spring wheat MGEX in Minneapolis to $242.87 per ton. This increase was due to concerns about supply disruptions from the Black Sea region due to escalating Russia-Ukraine tensions. However, soybean futures fell by over 1.6% to below $12 a bushel, attributed to profit-taking and increased sales by U.S. and South American farmers. Corn futures also experienced a decline, while the French grain market saw a rise in milling wheat and corn quotes.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On Friday, March 22, 2024, US wheat futures rose. At the end of the trading day, May quotations of soft winter wheat on the Chicago Mercantile Exchange CBOT rose to $203.83 per ton, May futures of hard winter wheat KCBT in Kansas City - to $216.97 per ton, May futures of hard spring wheat MGEX in Minneapolis - to $242.87 per ton. Chicago Board of Trade soybean futures fell more than 1.6% on Friday to below $12 a bushel amid profit-taking a day after the benchmark contract neared a two-month high as soybean farm sales and the dollar fell. Analysts say the surge has fueled bearish sentiment. Wheat futures rose and corn futures fell amid choppy trading. May CBOT soybeans ended the day down 19-1/2 cents at $11.92-1/2 a bushel. May CBOT corn futures fell 1-1/2 cents to $4.39-1/4 a bushel, and May CBOT soft red winter wheat rose 8 cents to $5.54-3/4 a bushel. Soybeans retreated after a two-session rally. Rising futures this week boosted soybean sales by U.S. and South American farmers, ...

Source: Zol