Heat in the United States Boosts Cereal Prices in Chicago

Cereals have risen further in the Chicago market driven by intense heat predictions in US production areas that could affect crops.

The July contract for oilseeds up 1.18% ($ 3.9) to $ 333.2 per tonne, while in August He did it by 1.57% (u $ s5.2) to finish at US $ S335.6 per ton.

The increase is due to the reduction in the US soybean production estimate made by the United States Department of Agriculture because of the high temperatures that affected the crop. The body has cut the figure of the bean harvest in addition eight million tons with regard to measurements made in June and placed at 104.6 million.

Soybean by-products accompanied the rise, with an increase of 0.55% (USD 1.9) up to USD 345.3 per tonne in the case of flour, while oil gained 0.14% (USD 0.9) ) and was placed at $ 619.7 per tonne.

On the other hand, maize grew by 0.39% (US $ 0.7) and reached US $ 177 per tonne, due to the intense heat forecast in the US corn belt. The biggest gains were registered in the September contracts, with increases around u $ s4.

Finally, wheat closed without change in its nearest position of $ 197 per tonne, although, as of the September contract, cereals were closed up.