Soybeans haven't become so expensive in one week for 22 years

Mondo

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Basically, a buyer's superiority could be seen on the last trading day of the week in the crop markets. In Chicago, corn rose by 0.6 percent, soybeans by 2.3 percent, and canola by 4.8 percent. It is true that the wheat exchange rate decreased by 0.6 percent. In Europe, the course of all four priority greyhound products, mill wheat, corn, rapeseed and fodder wheat, also closed in profit.

 

Soybean prices in Chicago rose sharply on Friday, ending five days with their biggest weekly gain in 22 years, as forecasts of hot and dry weather in the U.S. Midwest raised supply concerns while strong demand for soybean meal boosted interest. Soybean prices gained 11.99 percent, the biggest weekly gain since July 23, 1999.

 

Corn produced the largest weekly increase in nearly five months, while wheat ended the week higher after two weeks of decline.

 

Despite recent rains and below-average temperatures, forecasts for the U.S. Midwest point to hot and dry weather into early August, raising concerns about soybean yields during the crucial stage of pod development and late-planted corn that is still in pollination. .

 

"This very hot and dry forecast comes just when soybeans don't need it"

 

said Craig VanDyke, Senior Associate, Top Third Ag Marketing.

 

"The food supply is narrowing. There is some real demand in the market"

 

said Don Roose, president of US Commodities.

 

The United States Department of Agriculture (USDA) reported on Friday that based on the first flash sales of the past nine days, US exporters reported selling 132,000 tons of soybeans for delivery to unknown destinations for the 2022/2023 economic year.

 

The wheat market fell on news of Ukraine's grain exports via the Black Sea. Shipping is expected to begin within days. Ukraine is ready to start shipping grain from two Black Sea ports under an agreement brokered by the United Nations, but the date of the first shipment has not yet been set, Ukrainian Infrastructure Minister Oleksandr Kubrakov said.

 

In Europe, mill wheat was at €343, corn at €352.25, canola at €689.75 and feed wheat at £270.05 per ton for the next deadline.

Basically, a buyer's superiority could be seen on the last trading day of the week in the crop markets. In Chicago, corn rose by 0.6 percent, soybeans by 2.3 percent, and canola by 4.8 percent. It is true that the wheat exchange rate decreased by 0.6 percent. In Europe, the course of all four priority greyhound products, mill wheat, corn, rapeseed and fodder wheat, also closed in profit.

Soybean prices in Chicago rose sharply on Friday, ending five days with their biggest weekly gain in 22 years, as forecasts of hot and dry weather in the U.S. Midwest raised supply concerns while strong demand for soybean meal boosted interest. Soybean prices gained 11.99 percent, the biggest weekly gain since July 23, 1999.

Corn produced the largest weekly increase in nearly five months, while wheat ended the week higher after two weeks of decline.

Despite recent rains and below-average temperatures, forecasts for the U.S. Midwest point to hot and dry weather into early August, raising concerns about soybean yields during the crucial stage of pod development and late-planted corn that is still in pollination. .

This very hot and dry forecast comes just when soybeans don't need it

said Craig VanDyke, Senior Associate, Top Third Ag Marketing.

The food supply is narrowing. There is some real demand in the market

said Don Roose, president of US Commodities.

The United States Department of Agriculture (USDA) reported on Friday that based on the first flash sales of the past nine days, US exporters reported selling 132,000 tons of soybeans for delivery to unknown destinations for the 2022/2023 economic year.

The wheat market fell on news of Ukraine's grain exports via the Black Sea. Shipping is expected to begin within days. Ukraine is ready to start shipping grain from two Black Sea ports under an agreement brokered by the United Nations, but the date of the first shipment has not yet been set, Ukrainian Infrastructure Minister Oleksandr Kubrakov said.

In Europe, mill wheat was at €343, corn at €352.25, canola at €689.75 and feed wheat at £270.05 per ton for the next deadline.

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