Wheat rates on the Chicago Stock Exchange (SWOT) continued to fall. The September contract fell by 6.7 USD/t — to 195.7 USD/t, reports ASAP Agri.
CBOT corn also fell, with the September contract down 4.6 USD/t to $153.7/t. This was influenced by Friday’s WASDE report, which showed strong global corn supply and favorable weather conditions in the US. Weekly US corn export inspections were in line with expectations, limiting costs.
Soybean futures on the CBOT as of July 15 were down $9.9/t. US soybean processing volumes hit a record 175.599 million bushels in June, but below trade estimates. The WASDE report did not provide support for prices, while favorable weather conditions in the US added to the pressure.
Soybean meal futures were down $5.5/t on lower soybean prices and a stable global production outlook according to WASDE.
Rape on the Euronext exchange fell by €8.75/t due to lower soybean quotes and an increased forecast for world rape production in the WASDE report.
Oil prices fell by 0.89 USD/BBL due to the strengthening of the US dollar and political uncertainty following the assassination of presidential candidate Donald Trump. Gaza ceasefire talks and record US energy production also helped lower prices.
