In the United States, soybeans and grain jumped in price during the nightly trading from July 7 to 8 on reports that hot and dry weather is approaching for the central part of the USA.
After months of rainy weather during planting, some weather forecasters predict dry and hot weather this week, which could threaten new crops.
“Traders will closely monitor weather charts, the weekly crop progress report and the US Department of Agriculture report for July,“ Global estimates of agricultural supply and demand, ”said a researcher at Allendale, a company specializing in providing services for the development of the agricultural business.
Overnight on the Chicago Board of Trade, soybean futures for November delivery rose 5 cents to $ 8.99 a bushel. Soybean flour rose $ 1.40 to $ 313.80 per ton, while soybean oil added 0.11 cents to 28.11 cents per pound.
Corn futures for December delivery jumped to $ 4.47 a bushel per night.
Wheat for delivery in September rose 3.5 cents to $ 5.18 per bushel, while Kansas City futures rose $ 4 to $ 4.49 per bushel.