Grains Peak to New Records on Worst US Drought Since 50′s
Agricultural commodities that are largely produced in North America continued their
Traders and investors bet on the grains’ supply falling far below the demand. With crops in extreme danger in 1,297 US counties according to the latest report by the US Department of Agriculture, there is a high probability for a significant shortage in corn, soybean and wheat.
Corn is in a rally since June 4 now and broke its
Soybean rose from $16.8300 to $17.1325 per bushel as of 15:47 GMT on CBoT today. Corn went up from $7.695 to $7.990 a bushel, while wheat jumped from $9.0475 to $9.1875 for one bushel.
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