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US Grains Continue March Upward

July 3, 2017 at 23:50 by Vladimir Vyun

Concerns about above-norm temperatures and below-normal precipitation in northern growing regions of the United States of America continued to drive prices for US grains higher. Additionally, Friday’s report from the US Department of Agriculture continued to affect the market. The report showed that US farmers reduced the amount of wheat planted for the fourth year in a row, and as a result futures for the grain rose for the fifth consecutive day, climbing by the exchange limit and reaching the highest price for a most-traded contract in almost two years. Other grains were rallying as well.

Futures for delivery of wheat in September surged as much as 5.51% to $5.55 per bushel on CBoT today. Corn advanced 1.97% to $3.885 per bushel. November soybeans gained 2.72% to $9.8075 per bushel.

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