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Agricultural Markets Explode to Upside

April 20, 2016 at 22:52 by Vladimir Vyun

Grains explode to the upside as adverse weather in the South America threatens output. Softs joined the rally. Experts predict that the flood in Argentina may reduce the country’s yield of soybeans by as much as 5 percent. Meanwhile, drought Obstacle Bounce House in Brazil hurt corn crop. With the potential decline of output from South American exporters, traders are expected to increase purchases of US grain.

July futures for corn jumped 2.63% to $3.9975 per bushel as of 22:43 GMT on CBoT today. Soybeans rallied as much as 2.44% to $10.19 per bushel. Wheat added 3.46% to its value to trade at $5.1225 per bushel. Sugar climbed 2.53% to $0.1581 per pound on ICE.

If you have any questions and comments on the commodities today, use the form below to reply.

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