Unfavorable conditions for crops in producing regions are added

Grains are renewable resources whose global supply constantly fluctuates, determined by climatic conditions and continuous changes in global market demand and the world economic situation.

Lately, the Chicago Stock Exchange has seen rises due to the persistence of the global crisis, cuts in biofuels in the United States and less acreage for wheat in Europe.

Wheat ($411/t) starts the week with gains, hitting a four-week high. Prices continue to be buoyed by the disruption of shipments from the Black Sea region. To this are added the climatic complications of soils in the United States, which have been delaying the sowing of both wheat and corn.

The risk of drought in producing areas of US winter wheat is growing, which would further limit the global supply, while boosting prices. In addition, France, the main producer of wheat in the European Union, expects cuts in planted area of ​​around 4%, which contributes to price increases.

Soybeans and corn continue to rise

Soybeans also closed on Monday with increases, once again exceeding US$ 630/t for the closest position.

Soybean prices continue to rise due to higher demand for soybean oil, which drives the processing of the oilseed. In this sense, last month was the month with the highest soybean processing in the history of the United States. In addition, in the face of a commercial dynamism that seemed to slow down in recent weeks, the business climate seems to have picked up again, which is giving strength to prices.

Corn futures (US$320/t) ended Monday higher, despite market concerns about possible delays in planting in the United States. Traders fear cold weather will slow U.S. planting this spring and could reduce yields at harvest time in the fall. Planting is already off to a slow start, with 2% of the crop planted through April 10, less than the five-year average of 3%.

The most active corn futures rose on the day to $8.03 per bushel in Chicago, the highest price since September 2012.