World grain market: wheat and corn futures fell on Wednesday, soybeans rose slightly

On Wednesday, June 07, 2023, July wheat futures on the Chicago Mercantile Exchange CBOT fell amid sluggish export demand for US wheat. As a result of the trading day, July quotations of soft winter wheat CBOT in Chicago fell to $226.61 per ton, July futures of hard winter wheat KCBT in Kansas City fell to $289.54 per ton, July futures of hard spring wheat MGEX - to $291.74 per ton. ton.

U.S. wheat futures fell on Wednesday, with the biggest declines in high-protein offerings. Corn futures also tumbled, with contracts that track the recently sown crop posting the biggest decline on forecasts of rain in key midwest farming areas this coming weekend.

Soybeans closed mixed, with contracts strengthening most strongly as traders took positions ahead of the release of the USDA Global Supply and Demand Estimates on Friday. But the forecast for upcoming rains affected contracts for new crop soybeans, which closed in the red.

Chicago Mercantile Exchange July contracts for soft red winter wheat fell 11 cents to $6.16-3/4 a bushel. KSBT hard red winter wheat futures were down 3.9%, while MGEX July spring wheat futures were down 2.8%.

July CBOT corn fell 3-3/4 cents to $6.04-1/4 a bushel, while CBOT July soybeans rose 7-1/2 cents to $13.60-3/4 a bushel.

On the Chicago Mercantile Exchange (CBOT) on Wednesday, contracts for delivery in July:

wheat (July 2023) - 226.61 dollars / t (18410 rubles / t) - minus 1.75%;
corn (July 2023) - 237.89 dollars / t (19330 rubles / t) - minus 0.62%;
soybeans (July 2023) - 499.98 USD/t (40620 RUB/t) - plus 0.55%;
raw rice (July 2023) - $897.11/t (72,890 RUB/t) - plus 1.02%;
rapeseed (ICE, July 2023) - 669.90 cad/t (40,520 RUB/t) - plus 0.04%.

On Wednesday, the French grain market fell. As a result of the trading day, the September quotations of milling wheat on the Parisian MATIF exchange fell to €228.00 per ton (in dollar terms to $243.94). August corn quotes - up to €224.75 per ton (in dollar terms - up to $241.66), November futures for new crop corn - up to €222.25 per ton ($237.79).

On the Paris Stock Exchange (MATIF) on Wednesday, the quotes for the August and September contracts at the close of trading amounted to:

milling wheat (Sept. 2023) - 243.94 USD/t (19820 RUB/t) - minus 0.92%;
corn (Aug. 2023) - 240.46 dollars / t (19540 rubles / t) - minus 0.50%;
sunflower (June on the SAFEX exchange - 8300.00 zar./t (35090 rub./t) - minus 1.40%;
sunflower oil. (June, over-the-counter index NTB SOEXP) - 808.36 dollars per ton (65680 rubles per ton) - minus 0.6868%.