Wheat in the U.S. rose to the highest level in four years due to the drought

Moscow. July 3. INTERFAX.RU – the price of wheat in Minneapolis soared by 5.8% and reached the maximum of 4 years on concerns that established in the USA dry and hot weather will damage the crop.

On the stock exchange in Chicago September contract price for hard red wheat of the highest quality rose 5.7%, to $5,595 per bushel ($205,56 per tonne). Soft varieties of wheat have risen by 5.4%, to $5,5425 per bushel ($203,6 per ton), according to Bloomberg.

According to the forecast, according to Freese-Notis, this week the temperature in the Great plains will exceed 38 degrees. Earlier, the Ministry of agriculture noted that the spring wheat crops in the country fell to 10.9 million acres (4.41 mn hectares), that is, was less than the previous forecast.

“Prices rebounded, because the harvest is shrinking every day,” said a senior analyst at Northstar Commodity Investment mark Schultz. In trading in Paris wheat rose on Monday by 3.4% to the highest since August 2015 118 Euro per ton.

The oats futures with December delivery in Chicago jumped 7.6% to a record with Jan 2015 $3,0425 per bushel ($209,5 per tonne), corn for delivery in September rose 3.7%, to $3,95 per bushel ($155,5 per ton), the November futures for soybeans- by 3.5%, to $for 9.88 per bushel ($363 per tonne).