World grain market: Wheat fell in price, soybeans rose in price, and corn remained unchanged in price in the US, while in France the grain market fell sharply on Monday

Published Feb 6, 2024

Tridge summary

On February 5, 2024, wheat futures on the Chicago Board of Trade (CBOT) experienced a decline for the second day in a row due to a stronger dollar, making U.S. grains less attractive on the global market. In contrast, soybean futures saw an increase in technical trading, while corn futures remained stable. The market was largely influenced by position adjustments ahead of key government crop reports due on February 8th. The French grain market also saw a significant drop, with Russia being a strong competitor in the global wheat supply.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

On Monday, February 05, 2024, wheat futures on the Chicago Board of Trade (CBOT) fell for the second straight session, pressured by a stronger dollar. At the end of the trading day, March soft winter wheat quotes on the Chicago Mercantile Exchange CBOT fell to - $216.88 per ton, March hard winter wheat KCBT futures in Kansas City - to $225.60 per ton, March hard spring wheat futures MGEX in Minneapolis - to $253.89 per ton. Chicago Board of Trade soybean futures rose in technical trading Monday ahead of key government crop reports after the most active March contract fell to its December 2020 low. Adding to the upward trend was data from the U.S. Department of Agriculture, which reported that weekly export inspections showed U.S. soybean volumes last week totaled 1,426,472 metric tons, well above trade expectations but below volumes at the same time last year. year. Corn futures ended the trading day unchanged. Wheat futures fell for a second straight session, weighed down by a ...
Source: Zol
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