USA: Wheat closes mixed on Tuesday; corn and soybeans rise

Published Sep 19, 2024

Tridge summary

On September 17, 2024, the wheat, corn, and soybean futures market saw mixed results, with wheat futures ending the day mixed on all exchanges. The U.S. Department of Agriculture reported that 14% of the U.S. winter wheat crop had been planted, a slight above-average pace, and highlighted that 65% of the U.S. corn crop was rated as 'good to excellent.' In international market news, Japan was seeking 123,012 tonnes of wheat from the U.S., Australia, and Canada, while France lowered its soft wheat production estimate. Conversely, SovEcon increased its Russian wheat production estimate. Meanwhile, corn futures rose due to anticipated record harvests and high prices, with the U.S. corn harvest currently at 9%. Soybean futures experienced a rise due to concerns about potential heat and drought in Brazil, which could impact soybean crops.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On Tuesday, September 17, 2024, December wheat contracts closed mixed. By the end of the trading day, December soft winter wheat quotes on the Chicago Mercantile Exchange CBOT fell to $211.55 per ton, December hard winter wheat futures in Kansas City fell to $213.11 per ton, and December hard spring wheat futures in Minneapolis MGEХ rose to $228.17 per ton. Wheat futures ended the session mixed on Tuesday on all three exchanges. December futures in Chicago fell by 2 ¾ cents at the close. December futures in Kansas City fell by ½ cent. Spring wheat futures in Minneapolis rose 1 ¼ cents. A crop progress report Monday afternoon showed 14% of the U.S. winter wheat crop had been planted as of Sunday, a pace 1% above normal. Spring wheat was 92% complete, above the average pace of 90%. Japan is seeking 123,012 tonnes of wheat from three countries: the U.S., Australia and Canada. The tender is set to take place Thursday, with 66,397 tonnes requested from the U.S. France’s agriculture ...
Source: Oilworld
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