Lingering precipitation in the United States raise prices on the exchanges

Precipitation in North America this season, is distributed very unevenly. The Central part suffers from heavy rains, while in Canada and in the South-East USA, there is a shortage of moisture.

the establishment of the regions growing corn warm and dry weather helped to speed up sowing of soybeans and corn. However, the rainfall has returned to the Southern plains where winter wheat is grown, and from Wednesday they will spread throughout the corn belt in the USA, with the inclusion of the Northern regions.

the restoration of the rainy weather in the Southern plains will worsen the quality of the wheat, harvesting of which will start soon.

Hot and dry weather in the Southeast United States is delaying sowing and increasing stress in plants.

the precipitation Forecast continues to heat up prices for corn, soybeans and wheat on the stock exchange in Chicago.

the July corn futures rose yesterday to a three-year high of $170/ton, the December – to 176 $/t

the July soybean futures returned to 324,96 $/t, the November – to the highest for the year level 334,7 $/t

Delayed sowing in the US was catastrophic. In the second volume of corn production U.S. States – Illinois corn planted 35% of space compared to 98% last year. Now experts try to estimate the acreage and yield of corn and soybeans in the U.S., but it is already clear that due to the delayed sowing, the yield will decrease, and the production is significantly inferior to the may USDA forecast, which will lead to higher prices.