# Grains Report 12/18/2024 - Market InsightsMarket Insights

> Wheat markets in Chicago, Kansas City and Minneapolis traded a little lower, with US export demand described as poor in weekly USDA reports. Saudi Arabia bought over 800,000 tons of optional-origin wheat, likely sourced from Russia, Europe or South America. Rice was near unchanged with weak Asian prices.

- Date: 2024-12-18 · published 2024-12-18T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/7786-grains-report-12-18-2024-market-insightsmarket-insights
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

The Saudi purchase signals solid world wheat demand that partly offsets weak US export sales. Price pressure is limited in the near term.

## Read by commodity

- RICE: bearish ▼
- WHEAT: neutral
- KWHEAT: bearish ▼

## Sources

- blog.pricegroup.com: https://blog.pricegroup.com/2024/12/18/grains-report-12-18-2024/
- blog.pricegroup.com: https://blog.pricegroup.com/2024/12/20/grains-report-12-20-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.