Wheat quotations fell by another 3.5 USD/t

Wheat futures on the Chicago Stock Exchange (SWOT) decreased for the day to 197.6 USD/t.

CBOT wheat prices fell on July 25. The September contract fell by 3.5 USD/t — to 197.6 USD/t, reports ASAP Agri.

This is due to the fact that the yield of spring wheat is estimated at the highest level in the last 30 years. At the same time, the weekly volume of grain export sales in the USA decreased. This was also influenced by high competition in the market.

Instead, corn quotations increased. The September contract increased by 0.9 USD/t to 159.8 USD/t. This was influenced by the extreme heat in the Black Sea region. However, weekly US corn export sales declined and came in below expectations. This limited the growth of agricultural interest rates.

Soybean futures on the CBOT exchange rose by USD 1.8/t. This was facilitated by the sale of more than 200,000 tons of soybeans from the USA by private exporters. Overall, weekly U.S. soybean exports as of July 18 were up 84% for the week.

At the same time, rapeseed futures on Euronext fell by EUR 5/t. EU increases rapeseed imports in FY24/25, while oilseed crops may decline due to worsening yield outlook in major producing countries.

As USM wrote the day before, “Kernel” exported 5.5 million tons of grain in 2024 FY.