{"id":15650,"date":"2024-11-05T03:44:59","date_gmt":"2024-11-05T03:44:59","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=15650"},"modified":"2024-11-05T03:44:59","modified_gmt":"2024-11-05T03:44:59","slug":"wheat-prices-rise-as-us-crop-struggles","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/wheat-prices-rise-as-us-crop-struggles\/","title":{"rendered":"Wheat Prices Rise as US Crop Struggles"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>Listen to the article here:<\/em><\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/11\/15650.mp3\"><\/audio><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>Key points:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Chicago wheat futures rose 0.1% to $5.69-1\/4 per bushel, reflecting concerns over the poor start to the U.S. winter wheat crop.<\/li>\n\n\n\n<li>Corn and soybean futures held steady amid strong export demand, with recent U.S. sales boosting optimism for short-term exports.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p class=\"wp-block-paragraph\">Chicago wheat futures climbed by a slight 0.1% to $5.69-1\/4 a bushel early Tuesday. This gain reflects traders\u2019 cautious response to the USDA&#8217;s latest data showing that only 41% of the U.S. winter wheat crop is in good-to-excellent condition\u2014the second lowest level since records began in 1986. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This poor start could set the stage for future price increases if yields continue to come under pressure.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/11\/image-9-1024x461.jpeg\" alt=\"\" class=\"wp-image-15651\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>See: Wheat prices are consolidating in a narrow range between 5.452 and 5.713, showing limited momentum on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Wheat Rises as Markets Eye U.S. Election Impact on Trade<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Wheat\u2019s minor uptick came as markets turned their focus toward the outcome of the U.S. presidential election, which may influence agricultural trade policies. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A potential shift in U.S. tariffs on agricultural goods under different administrations could affect export flows, especially given the reliance on international buyers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Corn and soybean futures remained largely unchanged but supported by U.S. export demand. Corn futures dipped slightly by 0.1% to $4.16-1\/4 a bushel, while soybean futures saw a modest 0.1% gain, trading at $9.98-1\/4 per bushel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Wheat Futures Recover as Supply Concerns Persist<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Supply concerns remain central to price stability in the agricultural sector. Wheat futures, in particular, had fallen to a four-year low but have seen some recovery as crop conditions worsen. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dry planting conditions have hit the U.S. wheat crop hard and affected yields in Australia, Argentina, and the Black Sea region.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Dry conditions continue to plague Australia\u2019s <a href=\"https:\/\/twitter.com\/hashtag\/wheat?src=hash&amp;ref_src=twsrc%5Etfw\">#wheat<\/a> crop as the Foreign Agricultural Service (FAS) of the US Department of Agriculture reduced its production forecast by 3.5 million tonnes, to 28.5 million, in its latest estimate. \u2192 <a href=\"https:\/\/t.co\/0hKA8lpBNO\">https:\/\/t.co\/0hKA8lpBNO<\/a><a href=\"https:\/\/twitter.com\/hashtag\/agriculture?src=hash&amp;ref_src=twsrc%5Etfw\">#agriculture<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/grain?src=hash&amp;ref_src=twsrc%5Etfw\">#grain<\/a><\/p>&mdash; World Grain (@worldgrain) <a href=\"https:\/\/twitter.com\/worldgrain\/status\/1849908846417887649?ref_src=twsrc%5Etfw\">October 25, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In the U.S., recent rainfall brought some relief to critical cropping zones, improving planting conditions slightly, yet drought effects linger. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Argentina has benefited from rain in its southern agricultural zones, which bolstered wheat crops there, according to the Rosario Grains Exchange.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Egypt Buys 290,000 Tons of Black Sea Wheat, Boosting Competition<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Elsewhere, export competition is weighing on global wheat markets, with Egypt\u2019s state grain buyer, GASC, purchasing 290,000 metric tons of wheat from various Black Sea suppliers. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The substantial offers of Black Sea wheat highlight an increasingly competitive export market and have added pressure on Euronext wheat prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">U.S. corn exports have picked up as harvests begin winding down. Monday\u2019s USDA report indicated fresh deals, with U.S. exporters selling 150,000 metric tons of corn to Mexico and 120,000 tons of corn, along with 132,000 tons of soybeans, to unidentified buyers. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Increased sales come as lower crop prices bolster export demand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>See also: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/soybean-slides-on-oversupply-election-worries\/\">Soybean Slides on Oversupply, Election Worries<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Traders now await Friday\u2019s USDA report, expected to provide updated supply, demand, and stockpile estimates. These insights will likely influence short-term price movements across wheat, corn, and soybeans, especially as traders weigh potential future demand against current stockpile levels.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Start trading now \u2014 click <\/strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\"><strong>here<\/strong><\/a><strong> to create your live VT Markets account.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wheat futures rise on poor U.S. crop conditions, election trade worries; corn and soybean futures hold steady on stable export demand. &#8211; vtmarkets.com <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[44],"class_list":["post-15650","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-commodities"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=15650"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15650\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=15650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=15650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=15650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}