Chicago wheat and maize lose – HGCA

CBOT wheat futures generally lost between $3-5/t last week.

They held up well to big losses in other markets midweek as traders expected extra demand for US wheat if importers refused to buy EU wheat.

However, as the situation became clearer, US prices dropped quickly, falling nearly $4 Thursday alone (15 March). Maize prices fell around $5/t, falling throughout the week.

Chicago prices in general were particularly influenced by weak soyabean prices, falling around $7 over the week as harvest pressure from a large South American crop begins to tell.