Another day in a row, wheat opens higher on the Chicago Stock Exchange this Thursday (4/25). This time, futures for July rise 1.10%, to US$ 6.20 a bushel. According to data from Valor Data, the cereal was traded at the highest value since the end of January this year.
The weather has been the main reason for the cereal’s consecutive increases. In the United States, for example, the warning about the development of winter crops is reflected in the increases, while in Russia the lack of rain is also a concern.
Corn continues in the same vein that weather conditions will determine corn harvests in Argentina and Brazil. This morning, the price of cereal operates at US$4,500 a bushel, an increase of 0.33%. Depending on updated projections, the price of cereal could become volatile and fall.
“After three consecutive sessions of highs in Chicago, corn futures registered small losses last Wednesday, presenting downward technical corrections due to favorable conditions for the advancement of planting in the USA”, highlights the daily bulletin from consultancy Agrifatto.
Contrary to agricultural commodities listed on the American stock exchange, soybeans retreated and prices fell 1.02%. The price for lots due in July is US$ 11.69 per bushel.
According to the consultancy, despite the positive movement in bran, the decline in soybean oil and petroleum futures “removed the upward momentum in grain prices, while agents monitor the pace of planting in the USA”.
