Review of prices on the Chicago Board of Trade (CBOT) in February 2024

On Thursday, February 01, 2024, Chicago Board of Trade (CBOT) wheat futures rose, supported by technical buying. March quotations of soft winter wheat on the CBOT reached $221.01 per ton. At the same time, March durum winter wheat futures on the KCBT exchange in Kansas City fell to $228.08 per ton. However, March durum spring wheat futures on the MGEX exchange in Minneapolis rose to $255.73 per ton.

In contrast, U.S. soybeans experienced a decline of about 1.5%. This was reflected in corn futures prices, which fell in price. At the same time, wheat futures continued to rise thanks to technical buying.

Interestingly, traders did not pay attention to the news of private sales of American soybeans to Mexico, confirmed by the US Department of Agriculture. A total of 206,834 tons of soybeans were sold.

Thus, prices on the Chicago Board of Trade Exchange (CBOT) on Thursday for March delivery were as follows:

wheat (March 2023) - $221.01 per ton (+1.05%);
corn (March 2023) - $176.08 per ton (-.23%);
soybeans (March 2023) - $442.11 per ton (-1.55%);
rice (March 2023) - $887.07 per ton (+1.34%);
rapeseed (ICE, March 2023) - 601.20 cad/t (-1.51%).