World markets for grains and oilseeds

Published Dec 12, 2024

Tridge summary

Soybean and wheat futures on the Chicago Mercantile Exchange rose due to foreign market movements and a U.S. Department of Agriculture report. Soybean stocks were in line with expectations, leading to a slight increase in prices, while non-GMO food-grade soybeans are in high demand. Wheat futures also saw a rise after the USDA reported a draw in inventories and India reduced the limit on wheat stockpiles. Russia's wheat exports are expected to decline due to higher export duties, which is likely to increase global prices. Thailand and Jordan have purchased significant amounts of feed wheat and barley, respectively, for shipment in the coming months.

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

Original content

Soybean futures on the Chicago Mercantile Exchange rose Wednesday, supported by foreign market moves after a U.S. Department of Agriculture report showed ending soybean stocks were in line with trade expectations, analysts said. January soybean futures on the CBOT rose 3/4 of a cent to settle at $9.95-1/2 a bushel. January soybean meal futures on the CBOT settled down 90 cents to settle at $291.10 a short ton. January soybean oil futures on the CBOT fell 28 cents to settle at 42.44 cents a pound. South Korea’s state-owned Agro-Fisheries & Food Trade Corp has issued new international tenders for about 50,000 tonnes of food-grade soybeans that do not contain genetically modified organisms (GMOs), European traders said Wednesday. Soybeans are trading 4-5 cents higher in neighboring markets on Wednesday. CmdtyView's National Monthly Cash Bean Price rose 3 1/2 cents to $9.49 1/4. Export sales data are expected to show 1.5-2.2 million tonnes of 2024/25 soybean sales in the week of 5/12, ...

Source: Oilworld