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Wheat plummets in the US, but is heading for significant monthly appreciation

Posted by Rafael Moro

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Image: Pixabay

At 1:50 pm (Brasília time) this Tuesday (29), the wheat spot on the Chicago Stock Exchange (CBOT) showed a significant drop of 47.00 points and 4.45%, quoted at US$ 1,010.00 cents/bushel ; on the Kansas Stock Exchange (KCBT) it plummeted 40.00 points and 3.74%, trading at US$ 1,030.50/bushel cents.

Despite the low this afternoon, the grain accumulated a monthly gain of more than 8% on the US stock exchanges. Pressure for the possibility of a ceasefire in Eastern Europe. Russia and Ukraine are with representatives in Istanbul, Turkey, to try to reach a peace agreement.

The two countries are responsible for 30% of the global trade of the commodity. On Thursday (31), the US Department of Agriculture (USDA) will release new figures on the planted area in the North American country.

This text was translated by machine from Brazilian Portuguese.