USA: Corn prices shot up almost 4 percent this week

Corn and wheat prices have increased in the Chicago market, with wheat up 1.2% and corn up 3.8%, while soybean and rapeseed prices have decreased. In Europe, prices have mostly fallen, with wheat down 0.2%, corn down 0.6%, rapeseed down 4.1%, and feed wheat down 0.4%. The rise in grain futures is due to traders hedging and taking profits after recent selling. Additionally, dry forecasts in Argentina are supporting corn and soybeans. The USDA's weekly grain export report is expected to be released on Monday.

In America, corn and wheat both rose in price, but crop prices in major markets have declined over the past five days. Agricultural products have mostly become cheaper on commodity markets in the past week. In Chicago, wheat prices rose by 1.2 percent and corn by 3.8 percent, but soybean prices fell by 1.4 percent and rapeseed prices fell by 0.6 percent. In Europe, only price decreases were seen, with milling wheat prices down 0.2 percent, corn prices down 0.6 percent, rapeseed prices down 4.1 percent and feed wheat prices down 0.4 percent. If we look only at Friday, we could see almost only price increases in America. In Chicago, wheat prices stagnated, but corn prices rose 1.4 percent, soybean prices rose 1.2 percent and rapeseed prices rose 3.6 percent compared to the previous day. In Europe, all four major agricultural commodities, milling wheat, corn, canola and feed wheat, also closed in the red. The upward movement in grain futures was partly due to traders in Chicago ...