CBOT trading session review, January 24

Wheat

On Wednesday, January 24 wheat futures grew significantly (+2.7%) supported by the Dollar index decline and persisting drought in the Southern and Central Plains.

Corn

On Wednesday, January 24 corn futures showed gains due the falling dollar value and rising wheat prices. Moreover, the USDA data on the growth of corn exports and increase in ethanol production in the USA supported the market.

Soybeans

On Wednesday, January 24 soybean futures continued to grow. The market got support from news on moisture deficit in Argentina and the US export sale of 132,000 MT of soybean meal to the Philippines.