World grain market: wheat and corn rose on Tuesday, soybean prices continued to decline

Published 2024년 10월 30일

Tridge summary

The wheat market experienced a rise on Tuesday, October 29, 2024, following a government report that indicated the U.S. winter wheat crop was in worse condition than expected due to dry conditions in the Great Plains. As a result, wheat futures in the U.S. and Europe saw an increase. The U.S. Department of Agriculture reported that only 38% of the winter wheat crop is in good to excellent condition, a decrease from the previous year. In contrast, the European Commission reported a decrease in EU soft wheat exports. Additionally, the corn and soybean markets saw mixed results, with the corn market experiencing a slight increase due to the rapid pace of harvest, while the soybean market continued to decline due to improved weather and planting progress in South America.

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

Original content

The wheat market was higher on Tuesday, October 29, 2024. By the end of the trading day, Chicago Board of Trade soft winter wheat futures for December settled at $209.62 per ton, Kansas City hard winter wheat futures for December settled at $211.00 per ton, and Minneapolis hard spring wheat futures for December settled at $222.85 per ton. The wheat complex rebounded on all three exchanges on Tuesday. Chicago SRW futures for December settled at $5.70-1/2, up 11 ¾ cents. Kansas City HRW futures settled at $5.74-1/4, up 12 ¾ cents. Minneapolis spring wheat settled at $6.06-1/2, up 11 1/4 cents. Wheat futures in the U.S. and Europe rose Tuesday after a government report showed the U.S. winter wheat crop was much worse than analysts had forecast, with dry conditions continuing across much of the Great Plains. Only 38% of the winter wheat crop is in good to excellent condition, the second-lowest for this time of year, according to the U.S. Department of Agriculture’s National ...

Source: Oilworld