Hot and dry weather in the U.S. promotes the growth of quotations on corn and soybeans

Hot and dry weather in most parts of the Middle West of the USA affects the state of soybeans and corn, so the Ministry of agriculture of the United States in the weekly report reduced share of the harvest, which was rated as good or excellent for corn 3% to 72%, and for soybeans to 69%.

the Forecast hot weather during flowering and pollination of corn has caused concern about a possible decrease in yield. About 63% of corn crops in the US are currently in a state of pollination, which is significantly ahead of the average for the past 5 years by 37%.

65% of crops of soybeans are in the flowering stage, which is 20% more than the average for the 5 years.

corn Futures rose 0.5 percent to $142/ton, and soy by 0.9% to $314,99/t support to the price of U.S. corn in the near future will give rise in export demand due to delays in the shipment of corn in the ports of Brazil, where around 50 ships waiting to load.

the boot Delay is due to the increase in the cost of shipping grain to port, and also due to the overload terminals and elevators soybeans.

South Africa, thanks to the growth of the corn crop last season, ramping up the supply of corn to China and Vietnam. The demand for Ukrainian corn is low on old crop and new.