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CORNJUL21 - CBOT Corn (July)
SOYBEANSJUL21 - CBOT Soybeans (July)
WHEATJUL21 - CBOT Wheat (July)
Grain prices continue to surge higher with the Bloomberg Grains spot index, up 17% year-to-date and hitting the highest level since 2013. The rally has been led by edible oils and corn with the latter trading above $6 per bushel in Chicago for the first time since 2013. Soybeans trades at a seven-year high at $15 per bushel while wheat – following a setback in March – has surged higher to reach $6.8, also a seven-year high.
A combination of cold U.S. weather delaying planting while hurting the seeds already in the ground and declining crop conditions in Brazil at a time of strong overseas demand, especially from China, has left the market increasingly tight of 2020-21 season supplies.