World grain market: Wheat and corn rose in price, soybeans fell on Monday

Published Dec 10, 2024

Tridge summary

The wheat market saw an increase in futures on December 9, 2024, with all major futures reaching higher prices ahead of the U.S. Department of Agriculture's World Agricultural Supply and Demand Estimates (WASDE) report. U.S. wheat futures experienced slight growth, with exports showing a decrease. Meanwhile, corn futures also rose, contrasting Dalian prices, driven by increased U.S. corn exports. In contrast, soybean futures saw losses due to weaker export inspection results and the strong Brazilian crop. The French wheat market also experienced a slight decline. Overall, the market is anticipating stable U.S. wheat stockpiles and a slight increase in global inventories, while global corn and soybean stocks are expected to decrease slightly.

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

Original content

The wheat market was higher on Monday, December 09, 2024. March soft winter wheat quotes on the Chicago Mercantile Exchange CBOT rose to $205.30 per ton, March hard winter wheat futures in Kansas City KCBT rose to $205.30 per ton, and March hard spring wheat futures in Minneapolis MGEX rose to $221.65 per ton. U.S. wheat futures were slightly higher on Monday as traders took a wait-and-see approach ahead of the release of the U.S. Department of Agriculture's World Agricultural Supply and Demand Estimates (WASDE) report on Tuesday, December 10, which is expected to bring lower forecasts for global and domestic ending stocks. Chicago March SRW futures settled at $5.58-3/4, up 1 ½ cents. Kansas City March HRW futures settled at $5.58-3/4, up 5 cents. Minneapolis March spring wheat futures settled at $6.03-1/4, up 6 ¾ cents. The weekly export inspection report showed that 226,513 metric tons of wheat were shipped in the week ended Dec. 5. This was a decrease of 24.13 percent from the ...

Source: Zol