The prices of the soybeans, corn, and wheat They play this Wednesday June 21 multi-month highs on the Chicago Stock Exchange, supported by the concern about crop shortages around the world due to adverse weather in key production areas.
November soybeans soybeans added 1.9% to US$553.07 a tonthe maximum for the contract of new crops from the March 9.
For their part, the corn futures for December, which track the crop being grown in fields across the US, they rose 2.9% to $261.11. The contract reached its level highest since November 7 at the beginning of the session.
At the same time, CBOT September soft red winter wheat futures were up 4.8% at $268.50, the most for the most active contract since February 24.
The US Department of Agriculture lowered its ratings for corn and soybeans from good to excellent more than expected on Tuesday, including sharp falls in the top producing states of Iowa and Illinois.
Crop concerns are also growing elsewhere, including Europe. In Germany, the 2023 wheat crop of all types is expected to shrink 2.9% year-on-year to 21.87 million metric tons, according to the latest crop estimate from the country’s agricultural cooperative association.
The European Union’s crop monitoring service MARS this week cut almost all of its average yield forecasts for the bloc’s 2023 grain and oilseed crops, citing adverse weather conditions.
Source: Ambito
