Corn and corn oil price will m

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siok
2021-06-07

Corn and corn oil price will move up?

Corn hits near one-month high on dry weather concerns

CANBERRA, June 7 (Reuters) - U.S. corn futures rose as much as 3% on Monday, as adverse weather acro

Corn hits near one-month high on dry weather concerns

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edgewise
·2021-06-07
Most commodities will be up. Inflation.
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Soybeans and wheat prices also jumped.</p><p>The most-active corn futures on the Chicago Board of Trade&nbsp;rose 2.5% to $6.99-1/2 a bushel by 0039 GMT, near the session high of $7.06-1/4 a bushel - the highest since May 13.</p><p>Corn fell 1.9% in the previous session.</p><p>Analysts said corn was drawing support from hot, dry weather across the U.S. Midwest, a major producing region in the world's largest exporter.</p><p>\"The market will remain hypersensitive to these weather issues because feed grain supply is tight,\" said Tobin Gorey, director of agricultural strategy, <a href=\"https://laohu8.com/S/CBAUF\">Commonwealth Bank of Australia</a>.</p><p>Global supply estimates for corn are already shrinking amid sustained dry weather in Brazil.</p><p>Private analytics firm IHS <a href=\"https://laohu8.com/S/MRKT\">Markit</a> Agribusiness last week lowered its estimate of Brazil's 2020/21 total corn crop to 88 million tonnes, down 5 million from its previous estimate, according to an IHS client note seen by Reuters.</p><p>Soybean futures&nbsp;were up 1.8% at $16.12-3/4 a bushel, near the session high of $16.23-1/2 a bushel - the highest since May 13.</p><p>Wheat futures&nbsp;were up 1.6% at $6.98-3/4 a bushel after closing up 1.7% in the previous session.</p><p>Warm June weather after widespread rain last month is helping European wheat crops recover from a chilly, dry start to spring, keeping the region on track for a rebound from last year's disappointing harvest, analysts and traders said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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Soybeans and wheat prices also jumped.</p><p>The most-active corn futures on the Chicago Board of Trade&nbsp;rose 2.5% to $6.99-1/2 a bushel by 0039 GMT, near the session high of $7.06-1/4 a bushel - the highest since May 13.</p><p>Corn fell 1.9% in the previous session.</p><p>Analysts said corn was drawing support from hot, dry weather across the U.S. Midwest, a major producing region in the world's largest exporter.</p><p>\"The market will remain hypersensitive to these weather issues because feed grain supply is tight,\" said Tobin Gorey, director of agricultural strategy, <a href=\"https://laohu8.com/S/CBAUF\">Commonwealth Bank of Australia</a>.</p><p>Global supply estimates for corn are already shrinking amid sustained dry weather in Brazil.</p><p>Private analytics firm IHS <a href=\"https://laohu8.com/S/MRKT\">Markit</a> Agribusiness last week lowered its estimate of Brazil's 2020/21 total corn crop to 88 million tonnes, down 5 million from its previous estimate, according to an IHS client note seen by Reuters.</p><p>Soybean futures&nbsp;were up 1.8% at $16.12-3/4 a bushel, near the session high of $16.23-1/2 a bushel - the highest since May 13.</p><p>Wheat futures&nbsp;were up 1.6% at $6.98-3/4 a bushel after closing up 1.7% in the previous session.</p><p>Warm June weather after widespread rain last month is helping European wheat crops recover from a chilly, dry start to spring, keeping the region on track for a rebound from last year's disappointing harvest, analysts and traders said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141284552","content_text":"CANBERRA, June 7 (Reuters) - U.S. corn futures rose as much as 3% on Monday, as adverse weather across a key U.S. growing region pushed prices to a near one-month high. 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