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World markets for grains and oilseeds

Published Nov 26, 2024

Tridge summary

Soybean futures on the Chicago Mercantile Exchange saw a slight increase due to strong demand and a weaker dollar, despite forecasts for record production in South America. While soybean oil futures fell, soybean meal futures rose, with China being the largest recipient of shipments. Traders increased their net short positions in soybeans and soymeal, and Brazil's soybean plantings are ahead of last year. Meanwhile, wheat prices are influenced by geopolitical factors and improved U.S. winter wheat crop conditions due to timely rainfall. Wheat futures fell due to ample supplies and eased geopolitical concerns in the Black Sea region.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Soybean futures on the Chicago Mercantile Exchange were supported Monday by relatively strong demand and a weaker dollar, although forecasts for record South American production suggest limited gains. On the CBOT, January soybean futures rose 2.5 cents to settle at $9.83.50 a bushel. The CBOT’s most-active January soybean oil futures contract ended down 0.51 cent to settle at $41.33 cents a pound. The CBOT’s most-active January soybean meal futures contract ended up $4.40 to settle at $295.90 a short ton. Day trading Jan 25 Soybeans are at $9.85, up 1 1/2 cents, Nearby Cash is at $9.34 1/2, up 1 1/2 cents, Mar 25 Soybeans are at $9.93 1/2, up 1 1/4 cents, Jul 25 Soybeans are at $10.19 3/4, up 1 1/2 cents. FGIS soybean shipments totaled 2,102 MMT (77.24 mbu) for the week ended Nov. 21, down 7.3% from the previous week but up 33.5% from the same week last year. The bulk was shipped to China, with 1.23 MMT of shipments, as 205,727 MT were destined for Mexico. This brought the total ...
Source: Oilworld
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