Start trading now on Poste Italiane

CBOT wheat futures reach two-week high amid global demand expectations



On Monday, CBOT wheat futures rose to a two-week high, driven by global demand expectations. The most active CBOT wheat contract settled at $5.79-3/4 per bushel, bouncing back from a three-year low last month. However, the ongoing Israel-Hamas conflict tempered these gains.

Despite stiff competition from Black Sea origins, prices continued to rise, according to Russia’s IKAR agriculture consultancy. Meanwhile, CBOT corn dipped by 3-1/4 cents to $4.90 per bushel.

On the other hand, soybeans ascended by 5-3/4 cents to $12.86 a bushel, bolstered by soaring soyoil futures. The U.S. Department of Agriculture reported above-expected soybean export inspections of 2 million metric tons for the week ending Sunday.

The National Oilseed Processors Association (NOPA) noted a record-breaking U.S. soybean crush for September and the lowest soyoil stocks in nearly nine years. This development marks an important shift in the commodities market that could have significant implications for future trade dynamics.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Previous Post
Restart of Venezuela, opposition talks could lead to US sanction relief
Next Post
Bitcoin gives up gains after BlackRock denies ETF approval report

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Invest on crypto with Gianluca Vacchi project and start making money now
Win money trading on Amazon