Cancellation of a sale to China and rains in the Midwest weighed heavily on Chicago again.
US quotes continued their rapid decline on Thursday evening in Chicago. Corn in particular plummeted after the USDA announced the cancellation of a sale of 233 kt of old crop to China. American sales of corn internationally last week also remained relatively neutral at 400 kt, while no new deals for the upcoming harvest were recorded.
Sales of soybeans (311 kt) and wheat (358 kt, including 202 kt for the new harvest) are also in line with expectations. Wheat prices in Chicago continue to be under pressure from the highly anticipated arrival of rains in the Midwest. The soybean complex, on the other hand, has given way under the weight of Brazilian competition and a drop in palm oil at the Kuala Lumpur Stock Exchange.
At the close of Chicago, SRW wheat for July 2023 delivery fell 12.75 cents per bushel to $6.29 per bushel. July 2023 corn futures contracted 19.5 cents per bushel to $5.82 per bushel. The July 2023 military bean delivery plunged 11.0 cents per bushel to $14.04 per bushel.
#Chicago #maintient #une #forte #tendance #baissière
publish_date]
