The price of wheat rose on world markets

07/06/2023 11:00

Chicago corn rose 1.4% after a weekly government report showed a sharp decline in the U.S. crop rating amid hot and dry weather in parts of the Midwest grain belt. This is reported by Kurkul.com with reference to Reuters.

Wheat rose for a fifth straight session, rising 2.8% on support from shrinking global wheat supplies, a 34% drop in Australia's wheat crop and stronger demand from importers.

According to the USDA, the condition of the U.S. winter wheat crop improved by 2% for the week, to 36% in good and excellent condition. The condition of spring wheat crops is estimated at 64% in good and excellent condition.

We will remind, Kansas farmers will harvest the smallest wheat crop in more than 60 years. A long drought deprived a significant part of the harvest. As a result, Kansas flour mills are more likely to purchase wheat grown in Eastern Europe.

Soybeans and rapeseed also rose in price by 0.41% and 3%, respectively.

Chicago corn rose 1.4% after a weekly government report showed a sharp decline in the U.S. crop rating amid hot and dry weather in parts of the Midwest grain belt. This is reported by Kurkul.com with reference to Reuters.
 
Wheat rose for a fifth straight session, rising 2.8% on support from shrinking global wheat supplies, a 34% drop in Australia's wheat crop and stronger demand from importers.
 
According to the USDA, the condition of the U.S. winter wheat crop improved by 2% for the week, to 36% in good and excellent condition. The condition of spring wheat crops is estimated at 64% in good and excellent condition.
 
We will remind, Kansas farmers will harvest the smallest wheat crop in more than 60 years. A long drought deprived a significant part of the harvest. As a result, Kansas flour mills are more likely to purchase wheat grown in Eastern Europe.
 
Soybeans and rapeseed also rose in price by 0.41% and 3%, respectively.
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