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World grain market: Wheat and corn started the Christmas week with growth, while soybeans fell

Published Dec 24, 2024

Tridge summary

The wheat market experienced a rise in futures on December 23, 2024, with Chicago Board of Trade soft winter wheat reaching $198.60 per ton, Kansas City hard winter wheat at $202.45 per ton, and Minneapolis hard spring wheat at $218.81 per ton. This increase is attributed to thin trading and strong demand for grain shipments during the holiday week. However, the corn market remained stable, while soybeans saw losses due to a devaluation of the Brazilian real and pessimistic external conditions, despite new sales from the United States. The U.S. Department of Agriculture reported a private export sale of 132,000 metric tons of corn to undisclosed destinations for the 2024/25 season, and export inspection reports showed an increase in wheat and soybean shipments. Russian wheat export estimates have been reduced, while its grain export potential for 2025 is estimated at 45 million tonnes, including 40 million tonnes of wheat.
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 23, 2024. Chicago Board of Trade soft winter wheat for March rose to $198.60 per ton, Kansas City hard winter wheat for March KCBT for March rose to $202.45 per ton, and Minneapolis hard spring wheat for March MGEX rose to $218.81 per ton. Chicago SRW for March rose to $5.40-1/2, up 7 ½ cents. Kansas City HRW for March settled at $5.51, up 6 ¼ cents. Minneapolis March spring wheat futures settled at $5.95-1/2, up 5 1/4 cents. U.S. and European wheat futures rose Monday amid thin trading at the start of the short holiday week and strong demand for grain shipments. Markets will be closed early Tuesday for Christmas Eve and all day Wednesday for Christmas. There will be a tight work schedule Thursday. Weekly export inspection data showed a total of 403,719 tonnes of wheat were shipped in the week ending Dec. 19, up 34.18% from the previous week but down 14.65% from the same week last year. The Philippines was the top destination with ...
Source: Zol
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