mar. May 25, 2021 at 9:38 AM • AFP
Welcome rains in the United States but also in Brazil have benefited wheat, corn and soybean crops and therefore slightly lowered prices in Chicago on Monday.
« Au over the weekend there were rains in the northern and western part of the corn belt, ”said Dewey Strickler of Ag Watch Market Advisors, referring to the states of North and South Dakota, Minnesota. , Indiana, Wisconsin and Michigan in particular. “Rains also fell in the dry parts of southern Brazil,” a major producer of corn and soybeans, added Strickler.
In addition to these favorable conditions for crops, there are favorable forecasts for the first week of June: “the weather forecasts show normal temperatures or a little above for the season, as well as normal humidity or a little higher” , added the expert from Ag Watch Market Advisors.
The US Department of Agriculture’s crop progress reports, due to be released Monday night, would show analysts that between 86% and 90% of corn crops were already planted. For soybeans, some 78% of the plants are in the ground, analysts project, approaching the fastest rate since 2012.
The bushel of wheat (about 2kg) for delivery in July, the most traded, closed at $ 6.6225 from $ 6.7425 on Friday, down 1.78%. The bushel of corn (about 2kg) for July delivery ended at $ 6.5725 from $ 6.5950 at the end of the week, falling 0.34%. The bushel of soybeans (about 2kg) for delivery in July ended at $ 15.2275 from $ 15.2625 at the last close, losing 0.22%.
To monitor changes in the prices of agricultural commodities, log on to Agricultural markets at Terre-net.fr
© All reproduction rights reserved – Contact Terre-net
–
