CHICAGO, ILLINOIS, U.S. — U.S. corn, wheat and soybean meal futures advanced on Aug. 15 while most soybean and soybean oil futures declined.
Wheat firmed on increased hostilities in the Black Sea region, a large wheat producing area, and corn followed. Chicago September wheat moved up 14¢, closing at $5.51¼ a bushel, Kansas City September gained 11¾¢, closing at $6.19¾ a bushel, and Minneapolis September rose 6¼c, closing at $6.12 a bushel. September corn advanced 3¾¢, closing at $3.65¾ a bushel. September soybeans gained 4¼c, closing at $11.02½ a bushel, but other contracts declined. September soybean meal gained $5.90, closing at $388.30 a ton. September soybean oil fell 64¢, closing at 32.87¢ a lb.
Major U.S. stock indexes ended mixed Aug. 15 on reports of escalating tensions in Ukraine. The Dow Jones Industrial Average fell almost 51 points, closing at 16,662.91. The Standard & Poor’s 500 Index declined slightly, closing at 1,955.06. The Nasdaq Composite Index rose nearly 12 points, closing at 4,464.93.
The value of the U.S. dollar against the euro was lower.
Crude oil futures rose Friday after reports that Ukraine engaged Russian forces on Ukranian soil, which Russia denied. The September contract gained $1.77, closing at $97.35 a barrel.
In 2022-23, the International Grains Council’s July report anticipates worldwide wheat production to reach 770 million tonnes, down from 781 million tonnes in 2021-22, with 195 million tonnes available for trade.
Most wheat production comes from a handful of countries and even fewer are major exporters, according to the Food and Agriculture Organization (FAO) of the United Nations. Here’s a look at the top 10 wheat-producing countries worldwide, based on total yield in tonnes from 2000-2020 with 2022-23 production and consumption projections.
CHICAGO, ILLINOIS, US — Representatives of the grain and milling industries recently gathered July 10-13 at McCormick Place in Chicago, Illinois, US, for IFT FIRST, the Institute of Food Technologists annual event and expo.