Weather factors heat up prices for soybeans and corn

data report USDA and the forecast hot weather for the next 7-10 days in the corn belt of the United States, on Friday in Chicago futures on corn grew by 3.3% to of 182, 4 $/t, soybeans – 2.2% of 343.4 up to $/t

Hurricane Barry, which hit the Mexican coast of the Strait, stop the operation of port terminals and river transport barges with grain.

Further increase in soybean prices will limit the reduction in China's purchases of oilseeds due to the spread of ASF. In June, China reduced the import of soybean in comparison with the previous year by 25%.

Precipitation in Argentina are delaying corn. For a week the number obmolocheno areas grew by only 3.8% to 53.1% compared with 80% for this date last year. August futures on Argentine corn rose by $2/t to 183 $/t FOB.

In Ukraine, the price of corn new crop gradually grow after the American quotations now recovered to the level 172-174 $/t for December deliveries.

While the weather in Ukraine contributes to the development of corn crops, so the harvest forecast in the range of 33-34 MMT looks quite real.