Forecast precipitation raises the price of soy and corn in the United States

2019-06-13 12:06:17
Machine translation
Forecast precipitation raises the price of soy and corn in the United States

In the area of cultivation of soybeans and corn in the Midwest and on the field with winter wheat in the Southern Plains again precipitation. In the next 6-10 days in the East, Middle West established cold and wet weather which will not allow you to complete sowing of soybean in the States of Ohio, Illinois, and Michigan, where the pace of sowing of soybean are significantly behind the average.

 

Low temperature in the Northern Plains delayed the development of agricultural plants. A slight increase in precipitation in the coming days will have a positive impact on spring wheat crops earlier planted soybeans and corn, although delay sowing on areas that remain uninoculated.

 

On the Southern Plains rains, which will last for another 5-7 days, increase the risks of diseases of wheat that is ripening, delay the harvest and affect its quality. In major growing regions of wheat a week will be dominated by wet and cool weather. Precipitation will reduce the amount of protein in the wheat that is ready for harvesting.

 

Forecasted precipitation caused a rise in the stock prices of soybeans and corn.

 

Yesterday, soybean futures rose 3.5% to 323,4 $/ton, and July futures for corn and 5.3% to 177,6 $/t

 

Precipitation ruin the hopes of traders that the soybean and corn partially doseur after the optimal time that, despite the lower yields of late crops could increase the gross yield. Now the market awaits data on crops as of June 17, will be almost the final performance this season.

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