Wheat prices in Chicago finally took advantage of technical considerations to recover on Friday evening, after four sessions of heavy losses. The movement, however, remained limited by the recent improvements in growing conditions observed in the Midwest and the loss of competitiveness of American origins caused by the recent surge in the greenback. The harvests in the Southern Hemisphere are also progressing at a good pace and adding a little more to the supply available for this 24/25 campaign.
Corn prices also relied on technical considerations, while the soybean complex evolved in a dispersed manner, in a market that is still trying to adjust to the prospect of Donald Trump’s return to the White House next January . American international corn sales also fell by more than half last week, according to the USDA, falling within the lower consensus range (1.32 Mt). However, soybean sales remained in line with expectations, at 1.6 Mt, including 1.2 Mt to China. Wheat sales also remained dynamic, at 380 kt.
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