Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1

End-of-day quote Chicago Board Of Trade  -  2023-02-03
757.00 USc   -0.53%
02/05Indian Morning Briefing: Asian Markets Mixed at Start of the Week
DJ
02/05Soybeans inch lower on record Brazil output estimates
RE
02/03Soymeal futures set multi-year high while soybeans decline
RE
SummaryQuotesChartsNews 
SummaryMost relevantAll NewsOther languagesMarketScreener Strategies

Wheat Plunges 2% Amid Concerns Over Global Demand -- Daily Grain Highlights

11/25/2022 | 03:42pm EST

By Paulo Trevisani


--Wheat for March delivery dived 2% to $7.97 a bushel on the Chicago Board of Trade Friday amid fears that global demand will weaken as China struggles to curtail Covid-19.

--Corn for December delivery rose 0.7% to $6.68.

--Soybeans for January delivery closed slightly higher, at $14.36 1/4 a bushel.


HIGHLIGHTS


Domestic Support: Wheat futures plummeted toward the end of Friday's shortened session, while corn and soybean futures extended preholiday gains. Corn led the uptick. "The dry weather in Argentina is certainly something to keep an eye on, but is not critical at this point and the lack of export demand continues," Summit's Tomm Pfitzenmaier said in a report about corn. "The export side of demand continues to be negative, but strength in the domestic markets has been supportive."

Export Sales: Weekly exports of U.S. grain fell within the range of analysts' forecasts in a WSJ survey. For the week ended Nov. 17, the USDA said corn sales for the 2022-23 marketing year reached 1.85 million metric tons, soybeans hit 690,100 tons, and wheat sold 511,800 tons. Mexico and China were major destinations for those export sales. The report, which is usually released on Thursdays, was delayed this week due to Thanksgiving.


INSIGHT


Covid Threat: China's struggle with resilient Covid is having an "adverse impact on ag import demand," AgResource said in a report. "China has nearly finished its US soybean buying program, but South American soybean imports could be adversely impacted by China's broadening Covid outbreak," the research firm said. AgResource said it "maintains a CBOT stance of selling strong rallies amid slowing US export demand and favorable weather for a record large Brazilian soy crop."

Resilient Prices: Grain prices are likely to keep experiencing upward pressure next year as dry soil in North America threatens crops, BMO's Aaron Goertzen said in a report. "It's not too late for soil moisture to be replenished before the spring planting season, but regions that have faced multiple years of drought will require above-average precipitation to be fully rehydrated," he said, adding that next year crop supplies are likely to remain relatively tight, and prices stubbornly high. Goertzen added, "while it is entirely possible that peak food inflation is behind us, outright relief may not be in the cards any time soon."


AHEAD


-The USDA will release its weekly grains export inspections report at 11 a.m. ET Monday.

-The CFTC will release its weekly commitment of traders report at 3:30 p.m. ET Monday.

-The USDA will release its weekly crop progress report at 4 p.m. ET Monday.

-Hormel Foods Corp. will release its Q4 earnings report before the stock market opens on Wednesday.

-The EIA will release its weekly ethanol production and stocks report at 10:30 a.m. ET Wednesday.

-The USDA will release its monthly agricultural prices report at 3 p.m. ET Wednesday.


Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

11-25-22 1541ET

Stocks mentioned in the article
ChangeLast1st jan.
AC (AC) - CBR (FLOOR)/C1 0.83% 1.09 End-of-day quote.-20.73%
CORN FUTURES (ZC) - CBE (ELECTRONIC)/C1 0.26% 677 End-of-day quote.-0.15%
CORN?FUTURES (SETTLEMENT ONLY) (ZC) - CBR (FLOOR)/C11 0.00%End-of-day quote.0.00%
EURO / ARGENTINE PESO (EUR/ARS) -0.18% 202.65 Delayed Quote.7.28%
HORMEL FOODS CORPORATION -0.22% 45.24 Delayed Quote.-0.68%
S&P GSCI CORN INDEX -0.33% 557.4819 Real-time Quote.-0.48%
S&P GSCI SOY BEANS INDEX -0.18% 607.0465 Real-time Quote.0.67%
SOYBEAN MEAL FUTURES (ZM) - CBE (ELECTRONIC)/C1 1.04% 496.9 End-of-day quote.3.76%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.00% 188 Delayed Quote.6.37%
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 -0.53% 757 End-of-day quote.-4.45%
All news about WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1
02/05Indian Morning Briefing: Asian Markets Mixed at Start of the Wee..
DJ
02/05Soybeans inch lower on record Brazil output estimates
RE
02/03Soymeal futures set multi-year high while soybeans decline
RE
02/03Wheat Futures Fall on Russian Competition -- Daily Grain Highlights
DJ
02/03ICE Closing Review: Canola Reverses Course for Strong Finish
DJ
02/03Biden administration seeks to toughen school nutrition standards
RE
02/03Soymeal futures set multi-year high while soybeans decline
RE
02/03ICE Canola Trying to Recover from Earlier Losses
DJ
02/03India's ITC beats profit estimates on cigarette, packaged food demand
RE
02/03Europe Cuts Addiction to Russian Energy, yet Fuel Scramble Continues -- Commodities Rou..
DJ
More news
Chart WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1
Duration : Period :
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1
Short TermMid-TermLong Term
TrendsNeutralBearishBearish