The markets of soybeans and corn grow due to adverse weather
hot and Dry weather in the US gripped the corn belt that may adversely affect future harvest, because in July pollination of corn.
In anticipation of further price growth, traders are actively buying soybeans and corn.
Additionally rising price stimulates export. During the week it was sold 1.01 million MT of corn, though, and behind by 140 thousand tons from the figure of the previous week, however, is a pretty impressive result. Soybean exports increased by 200 thousand MT to 465,157 thousand tons.
In Chicago December futures on corn grew by 2.3 percent to 4.14 $/bushel or 162,95 $/t, which is the highest price last year.
the December soybean futures rose 2.4% to 10.3 $/bushel or 378 $/t, which is the highest level of the last 4 months. The most expensive contract in November was 2.3% above the level of 10.39 $/bushel or 381 $/t, which is considered the highest of the last 3 years.