Harvest quality rise in corn prices

Corn contracts traded on the Chicago stock exchange rose 1.5 percent, while soybeans rose 1.5 percent, as the US Department of Agriculture’s (USDA) weekly report pointed to declining quality of corn and soybean harvests.

The report, published weekly by the US Department of Agriculture (USDA), includes assessments of harvest quality. Wheat prices rose on the second day, but the expectations that imports from Ukraine would increase limited the gains.

Russia, Ukraine, Turkey and the United Nations (UN) agreed on procedures that would allow insuring ships carrying grain from Ukraine.

Corn futures contracts, which had the highest trading volume on the Chicago stock market, rose 1.5 percent to $6.16/bushel, or $242.5/ton.

Soybeans rose 0.8 percent to $14.40/bushel, or $529.1/tonne. Wheat increased by 0.8 percent to $7.86/bushel, or $288.8/ton.

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