Filed under: Major Movement, International Markets, Russia, Market Matters, Canada, Commodities, Agriculture
The grain markets are highly weather dependent. The slightest whisper of a weather change can move grains by large magnitudes. And with crops in Canada and China in danger of freezing, some grains recorded two-year highs.
Western Canada experienced frost last week, damaging the region’s crops, including wheat, canola and barley. Similarly, parts of China also experienced freezing weather, threatening some grain crops there. Meanwhile, in Russia, the severe drought, which caused the country to ban wheat exports, is continuing. Russian farmers have planted 39% less winter grains this year, according to Bloomberg.
Continue reading Corn, Wheat and Soybean Prices Surge Higher on Weather Problems
Corn, Wheat and Soybean Prices Surge Higher on Weather Problems originally appeared on BloggingStocks on Mon, 20 Sep 2010 10:00:00 EST. Please see our terms for use of feeds.
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Wheat – Cereal – Russia – Canada – Agriculture
The grain markets are weather related. Any change in the normal growing weather pattern sends the markets into turmoil.
