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Chicago soybean futures rose for a sixth straight day to their highest since June 2018, driven by strong Chinese demand, deteriorating US crop conditions and a weaker dollar. Corn hit its strongest level since March and wheat was near its highest since April.
China has stepped up US farm purchases since late April and is on course to exceed a WTO-set annual quota for corn.
Heavier Chinese buying combined with falling US crop ratings tightens old and new crop supplies, supporting soybean, corn and wheat prices and raising feed input costs for buyers.
bloomberg.comAug 31, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Soybeans and corn rallied on China demand and US crop woes, with wheat near its highest since April, so spillover buying lifted CBOT wheat.
