Wheat futures rose ahead of the grain market report

Prices in U.S. and European crop markets saw an increase on Thursday, with wheat, corn, and soybeans experiencing rising prices in Chicago, while canola and rapeseed saw a decrease in Europe. The uptick in U.S. wheat prices is attributed to investors buying ahead of a crop report, despite a 20% drop since the end of May. Corn prices also rose, supported by Conab's increased outlook for Brazil's corn crop. However, concerns about a potential La Niña system developing between September and November, which could lead to a stronger hurricane season, remain. In Europe, mill wheat, corn, and feed wheat prices increased, while rapeseed prices decreased.

In America and Europe, prices on the crop markets rose on Thursday's trading day. In Chicago, wheat rose by 1.7 percent, corn by 1.5 percent, and soybeans by 0.5 percent, while canola was 2.4 percent less than the previous day. In Europe, the course of mill wheat, corn and fodder wheat also closed in surplus, but rapeseed became cheaper here. U.S. wheat futures have fallen about 20% since the end of May, prompting some investors to buy ahead of Thursday's crop report. A bull market or even a neutral report can cause a rebound in the wheat market. In addition, mutual fund traders continue to hold large amounts of bearish short positions, and some may take advantage of recent price declines to cover these positions. Corn also rose, but bigger gains were hard to come by as analysts overwhelmingly saw US corn supplies looking plentiful this season. Crop agency Conab raised its outlook for Brazil's corn crop from the previous month, while its outlook for soybeans fell only slightly. ...