{"id":20026,"date":"2024-03-06T13:49:28","date_gmt":"2024-03-06T13:49:28","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=20026"},"modified":"2024-03-06T13:49:55","modified_gmt":"2024-03-06T13:49:55","slug":"grain-futures-fall-as-south-american-supplies-trickle-in","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/","title":{"rendered":"Grain futures fall as South American supplies trickle in"},"content":{"rendered":"\n<p>American grain futures collectively fell on March 5 for diverse reasons including a new soy harvest in Brazil.<\/p>\n\n\n\n<p>Corn futures set for delivery in May slumped in Chicago on March 5, 2024 by 3<sup>&nbsp;3\/4&nbsp;<\/sup>cents or 0.94%, to<a href=\"https:\/\/www.msn.com\/en-us\/money\/markets\/grains-grains-and-soy-falter-as-large-south-american-supplies-weigh\/ar-BB1jo9tB\"><u>&nbsp;$4.26 a bushel.&nbsp;<\/u><\/a>This followed a rebound to $4.3 per bushel a day earlier, which came as a result of temporary short covering.&nbsp;<\/p>\n\n\n\n<p>Fears of market saturation by price-watching farmers who are keeping their corn in silos contributed to the most recent fall.&nbsp;As corn planting kicks off in the U.S. this March, farmers will be under pressure to sell stocks to reduce seasonal supply overlap. This could lower the prices further.&nbsp;<\/p>\n\n\n\n<p>Like <a href=\"https:\/\/www.selinawamucii.com\/news\/2024\/02\/29\/american-corn-stages-comeback-in-shortened-markets\/\">American corn<\/a>, wheat has been no stranger to price turmoil in the past one week. After gaining 6.25 cents on March 4 to $5.64 per bushel, the grain shed 13 cents on the 5<sup>th<\/sup>, to end at $5.46<sup>1\/4<\/sup>\u00a0a bushel.<\/p>\n\n\n\n<p>News of cheap grain from Russia, selling at $202 per tonne in the world market had a stunning effect on U.S.&#8217; futures. Russia generously sold a part of its impressive harvest of<a href=\"https:\/\/www.selinawamucii.com\/news\/2023\/12\/05\/russia-harvests-record-wheat-gifts-the-surplus\/\"><u>\u00a099 million tons<\/u><\/a>\u00a0to supplant low production in Europe.<\/p>\n\n\n\n<p>Besides, Ukraine also reportedly shipped its&nbsp;<a href=\"https:\/\/www.thestar.com.my\/news\/world\/2024\/03\/06\/us-agricultural-futures-fall\"><u>final wheat consignment<\/u><\/a>&nbsp;for the 2023-24 market year this first week of March. Though this may leave the world market hollow for a while, it has nevertheless created a surplus.&nbsp;<\/p>\n\n\n\n<p>The one crop that is facing price odds bravely however, \u00a0even with virtually no expected supply lows is soybean. \u00a0<\/p>\n\n\n\n<p>On March 5, the most active soy contract in Chicago lost only 6 cents, to sell at $11.49 a bushel. On the 4<sup>th<\/sup>, the best soybean contract had gained 3.75 cents or a 0.33% appreciation, to end at $11.55 per bushel.<\/p>\n\n\n\n<p>One factor that will determine the price course of the oilseed is the U.S. Department of Agriculture (USDA)\u2019s March 8 report. The department will determine if Brazil\u2019s current harvest will impact world supplies. A Reuters analysis foresees a USDA downgrade of Brazil\u2019s output to\u00a0<a href=\"https:\/\/www.msn.com\/en-us\/money\/markets\/grains-grains-and-soy-falter-as-large-south-american-supplies-weigh\/ar-BB1jo9tB\"><u>152.28 million tonnes.<\/u><\/a>\u00a0<\/p>\n\n\n\n<p>Still, this scaling down on Brazil\u2019s production will have little cheer on price as South American supplies are already surplus.<\/p>\n\n\n\n<p>Besides, China has been stocking soy imports and is planning to plant its own crop to be self-sufficient.<\/p>\n\n\n\n<p>Thus, as grain futures fall Tuesday, expectations on whether they will rally hinge upon USDA\u2019s Friday report. It may bring a surprise like it did in&nbsp;<a href=\"https:\/\/www.selinawamucii.com\/news\/2024\/01\/15\/usda-grain-boon-shocker-sinks-corn-soybean-prices\/\"><u>January<\/u><\/a>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American grain futures collectively fell on March 5 for diverse reasons including a new soy harvest in Brazil. Corn futures set for delivery in May slumped in Chicago on March 5, 2024 by 3&nbsp;3\/4&nbsp;cents or 0.94%, to&nbsp;$4.26 a bushel.&nbsp;This followed a rebound to $4.3 per bushel a day earlier, which came as a result of&#8230;<\/p>\n","protected":false},"author":3,"featured_media":19751,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.3 (Yoast SEO v20.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Grain futures fall as South American supplies trickle in - Selina Wamucii | Food &amp; Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grain futures fall as South American supplies trickle in - Selina Wamucii | Food &amp; Agriculture News\" \/>\n<meta property=\"og:description\" content=\"American grain futures collectively fell on March 5 for diverse reasons including a new soy harvest in Brazil. Corn futures set for delivery in May slumped in Chicago on March 5, 2024 by 3&nbsp;3\/4&nbsp;cents or 0.94%, to&nbsp;$4.26 a bushel.&nbsp;This followed a rebound to $4.3 per bushel a day earlier, which came as a result of...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/\" \/>\n<meta property=\"og:site_name\" content=\"Selina Wamucii | Food &amp; Agriculture News\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-06T13:49:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-06T13:49:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.selinawamucii.com\/news\/wp-content\/uploads\/2024\/01\/640px-ADM_corn_plant_Columbus_Nebraska.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"238\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timothy Wahome\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Timothy Wahome\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/\",\"url\":\"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/\",\"name\":\"Grain futures fall as South American supplies trickle in - Selina Wamucii | Food &amp; Agriculture News\",\"isPartOf\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#website\"},\"datePublished\":\"2024-03-06T13:49:28+00:00\",\"dateModified\":\"2024-03-06T13:49:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/8c0aad9a1f85037798080d75b4302cf8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.selinawamucii.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Grain futures fall as South American supplies trickle in\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#website\",\"url\":\"https:\/\/www.selinawamucii.com\/news\/\",\"name\":\"Selina Wamucii | Food & Agriculture News\",\"description\":\"Discover the Latest in Food and Agriculture.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.selinawamucii.com\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/8c0aad9a1f85037798080d75b4302cf8\",\"name\":\"Timothy Wahome\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/636da6c8288b7dcaef01a42b50c3bc41?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/636da6c8288b7dcaef01a42b50c3bc41?s=96&d=mm&r=g\",\"caption\":\"Timothy Wahome\"},\"url\":\"https:\/\/www.selinawamucii.com\/news\/author\/twt4wahomegmail-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Grain futures fall as South American supplies trickle in - Selina Wamucii | Food &amp; Agriculture News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.selinawamucii.com\/news\/2024\/03\/06\/grain-futures-fall-as-south-american-supplies-trickle-in\/","og_locale":"en_US","og_type":"article","og_title":"Grain futures fall as South American supplies trickle in - Selina Wamucii | Food &amp; Agriculture News","og_description":"American grain futures collectively fell on March 5 for diverse reasons including a new soy harvest in Brazil. 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