📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Corn and wheat prices diverge amid global demand and weather forecasts

Published 2024-01-17, 05:38 p/m
© Reuters.

CHICAGO - In the latest commodity market movements, corn futures remained steady while wheat prices experienced a slight uptick, influenced by robust global demand. On the Chicago Board of Trade, March corn held at $4.42 per bushel, despite recently hitting a three-year low. Meanwhile, wheat prices edged higher to $5.825 per bushel, bolstered by significant demand from countries like Egypt, Algeria, and Tunisia.

Soybeans, however, did not fare as well, with futures dropping to $12.0575 per bushel, which is close to a two-year low. This decline is part of a broader market downturn affecting various commodities. Weather developments have introduced mixed influences on the market; anticipated beneficial rains in Brazil offer some hope for crop conditions, yet the country's production forecasts are still compromised due to earlier droughts.

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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.