The causes of the rise lie in that weather forecasts again spoke of hot and dry conditions in Argentina and southern Brazilafter last week’s rains, while the early harvest in northern Brazil was slowed by rainfall.
Consulting firm StoneX lowered its forecast for Brazil’s corn and soybean harvest on Monday, with oilseed production now forecast at 134.0 million tons from 145.1 million in December, and corn at 117.5 million tons from 120.1 million in December.
This day, corn fell 1.2% to US $ 237.2 per ton while wheat also fell 1.2% and traded at US $ 279.6 per ton.
For their part, the condition ratings for winter wheat fell sharply during December in Kansas and Oklahoma, the two main producers of winter wheat in the United States, the Department of Agriculture, USDA said on Monday.
Source From: Ambito
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