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CORN, SOYBEANS REACH THEIR HIGHEST PRICE LEVEL SINCE 2013
Apr. 27, 2021
Fluence Media reports:
Futures prices on the Chicago Board of Trade (CBOT) for both corn and soybeans have now reached their highest levels since 2013.
Nearby CBOT May corn futures closed at $6.55 per bushel on April 23, which was the highest closing price for nearby corn futures since July of 2013. Nearby CBOT May soybean futures closed at $15.40 per bushel on April 23, which was also the highest closing price for nearby soybean futures since July of 2013.
The rise in both the CBOT prices and the local cash grain prices have been driven by a combination of grain stocks adjustments by USDA, lower than anticipated U.S. corn and soybean production in 2020, lower than expected 2021 crop acreage, and very strong export demand for both commodities."
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