USA: Wheat and corn fell while soybeans rose on Friday

Published 2024년 11월 25일

Tridge summary

On November 22, 2024, wheat futures declined across major U.S. exchanges due to profit-taking and a stronger dollar, with specific price drops noted in Chicago, Kansas City, and Minneapolis. Despite improved U.S. wheat planting conditions and a 32% increase in export sales, corn futures also experienced minor losses, influenced by wheat's decline and the strong dollar, even as corn export sales rose by 31%. Conversely, soybean futures increased, driven by higher crude oil and soybean meal prices, with U.S. sales up 12%. In Europe, France's wheat planting improved, but the French wheat market saw a slight decline due to a stronger euro and geopolitical tensions, affecting the Paris MATIF exchange's December milling wheat and March corn quotes. Meanwhile, Argentina's soybean planting accelerated.

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

Original content

On Friday, November 22, 2024, the wheat market was lower. December soft winter wheat quotes on the Chicago Mercantile Exchange CBOT fell to $199.97 per ton, December hard winter wheat futures in Kansas City - to $203.65 per ton, December hard spring wheat futures in Minneapolis MGEХ - to $215.31 per ton. Wheat futures fell on Friday amid profit taking and a stronger dollar. December SRW futures in Chicago closed at $5.43 3/4, down 5 cents. HRW futures in Kansas City closed at $5.55, down 1/2 cent. Minneapolis spring wheat settled at $5.88, down 4 cents. U.S. wheat futures fell Friday as U.S. planting progressed and crop conditions improved. Export sales data released Thursday showed marketing-year wheat shipments up 32 percent year-on-year to 10.078 million tons. France's soft wheat crop is 90 percent planted, up from 78 percent the previous week and 73 percent the same week last year. Planting conditions are 88 percent in good or excellent condition, up from 83 percent last year. ...

Source: Oilworld