World grain market: Wheat, soybeans, and corn rose sharply in the US and France on Friday

Published 2023년 8월 21일

Tridge summary

Wheat futures on the Chicago Mercantile Exchange rose due to increased tensions in the military conflict between Russia and Ukraine. Traders are concerned that this conflict could disrupt grain supplies from the Black Sea basin, as both countries are major grain exporters. Additionally, soybean and corn futures also closed higher due to hot and dry weather forecasts in the US, raising concerns about crop stress.

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

Original content

On Friday, August 18, 2023, wheat futures on the Chicago Mercantile Exchange (CBOT) rose sharply amid increased tensions in the military conflict between Russia and Ukraine. As a result of the trading day, September quotations of soft winter wheat on the Chicago Mercantile Exchange CBOT rose to $225.33 per ton, September futures of hard winter wheat KCBT in Kansas City - up to $276.86 per ton, September futures of hard spring wheat MGEX - up to $294, 96 per ton. Wheat futures on the Chicago Mercantile Exchange jumped almost 4% on Friday. Grain traders are nervous that escalating tensions between Russia and Ukraine could disrupt grain supplies from the Black Sea basin. Both countries are major grain exporters. The bulls may have been puzzled by the “new” grain deal being prepared by Russia with Turkey and Qatar. Soybean futures edged higher in the third session, hitting a July high as a hot and dry weather forecast for the US raised fears of soybean crop stress. Corn futures also ...

Source: Zol