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U.S. grains: Wheat rallies on fresh round of purchases by China

Soybeans ended narrowly mixed as traders monitored Brazil weather; corn rose for fifth straight session

Wheat rose after U.S. Department of Agriculture (USDA) confirmed private sales of 198,000 metric tons of U.S. soft red winter wheat to China, the second such sale in as many days. Monday's announcement that China had purchased 440,000 tons of the grain, the largest one-off U.S. wheat export sale to China since at least 2020, added impetus to a recent rally.




CBOT January 2024 soybeans with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Soybeans up on Brazilian heat, export demand

Wheat moves higher; corn slumps on ample supplies

Chicago | Reuters — Chicago soybean futures climbed more than one per cent on Tuesday on concerns that scorching weather conditions in South America were taking a toll on crops, while the market also drew support from a fresh round of private sales by U.S. exporters. Chicago Board of Trade (CBOT) wheat also rose more […] Read more