Corn, soybean and wheat courses on the rise for 3 weeks

Hopes of further large orders for corn and soybeans have raised the stock exchange prices on the CBoT for these raw materials for three weeks in a row.
Yesterday, the USDA reported US corn orders from China of 747,000 tons at higher prices. Another 140,000 tons go to unknown customers. At the CBoT, corn prices rose 5% this week. In the last three weeks even by 12%.
The weekly increase for CBoT soybeans will probably land at 4% today and for wheat by 3%.
Due to the higher corn prices on the world market, the EU yesterday reduced its levy on corn imports to "zero".
The IGC had forecast an increase in the global corn harvest yesterday, but the effects of a widespread storm in the US corn belt were not yet taken into account.

Hansa Terminhandel GmbH
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