MOSCOW, August 10 – PRIME. Corn prices on the CBOT are rising, continuing the positive dynamics of the environment. Soybeans and wheat hit fresh weekly highs as hot, dry weather in parts of the US and Europe pose risks to the harvest campaign, Reuters reported.
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In addition, traders are adjusting their positions before the release of the USDA’s monthly supply and demand report on Friday. The agency is expected to cut its forecast for the US corn crop to 14.392 billion bushels from 14.505 billion bushels, analysts polled by Reuters said.
At 1450 GMT, the most actively traded CBOT corn futures rose 8 cents to $6.22 a bushel. Wheat futures rose 18 1/2 cents to $8 a bushel. Soybeans and wheat hit their highest since Aug. 1, while corn rallied to its highest since Tuesday, the highest level this month.
Meanwhile, the US Department of Agriculture announced the sale of soybeans to China.