All three commodities were on track for their first weekly decline after a five-week rally that pushed corn and soybeans t o record highs as the worst drought in half a century devastated crops across the Midwest.
Wheat, corn and soybean futures climbed as drought in the U.S. and Russia reduces global supplies.
Wheat futures for September delivery jumped 2.7 percent to $9.08 a bushel on the Chicago Board of Trade. Prices were down 6.3 percent this week through yesterday, heading for the first loss since mid-June, on demand concerns.
Corn futures for December delivery rose 2 percent to $7.92 a bushel in Chicago. The price was down 2.5 percent in the four sessions through yesterday.
Soybean futures for November delivery gained 2.6 percent to $16.0875 a bushel on the CBOT, paring this week’s decline to 4.6 percent.
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
No comments:
Post a Comment