Wheat Prices Steady, Corn Hits 15-Month High on Supply Worries

Chicago wheat futures held steady after a 3.2% rise, driven by concerns over Russia’s grain shipments, while corn prices remained near a 15-month high due to dry weather in Argentina and delayed planting in Brazil. Soybeans, however, edged lower after reaching a 6-month high. Wheat prices dipped 0.2% to $5.61-1/4 a bushel, while corn dropped 0.3% to $4.95-3/4 a bushel.

Despite challenging weather conditions, soybean supply remains ample, especially in Brazil, which anticipates a record harvest. Speculators continue to influence market dynamics, especially in wheat and corn, as traders await potential shifts in U.S. trade policies.

This article has been republished from The Investing.com