The July wheat contract traded in Chicago Board of Trade (CBOT) It closed this Monday (4) with a moderate increase of 3.25 points and 0.51%, quoted at US$ cents 641.00/bushel. In Kansas City Bank Exchange (KCBT)The futures contract closed completely stable at US$ 694.50 cents per bushel. In this trading session, cereal prices were supported by… rise in crude oil prices, originating from uncertainties regarding the reopening of the Strait of Hormuz, which exerted influence over the US agricultural commoditiesFurthermore, despite the forecast of pRainfall in drought-stricken wheat-producing areas of the United StatesAnalysts believe that the rains may not arrive in time to reverse the considerable damage to the winter crop cropsThe US National Weather Service, predicted rain in Central-West of the countryFurthermore, a cold front is expected in states such as Texas and parts of Lower Mississippi ValleyLater, the USDA will report the latest week’s update on the stages and conditions of U.S. crops.
This text was translated by machine from Brazilian Portuguese.