U.S. hot weather may raise global food prices
A heat wave is threatening this year’s U.S. grain harvest. It extinguished the hope of the harvest, along with soaring grain prices.
The United States is the world’s largest corn, soybeans, wheat exporting countries, while corn and soybean reserves are relatively low, so even if the harvest of slightly lower, will cause a chain reaction in the global food commodity markets.
Soybean prices have risen to its highest level since the food crisis in 2007 and 2008, this year’s corn crop prices have risen 30 percent since mid-June. Drought hit Latin America in Brazil, Argentina, Uruguay and Paraguay soybean belt a few months later, people began to worry about the harvest in the United States.ルイヴィトン モノグラムイディール ジッピー･ウォレット M63011 財布
Illinois and Indiana and other major U.S. agricultural states have been for several days suffered high temperatures above 38 degrees Celsius (100 degrees Fahrenheit), and no sign of abating this week. Illinois Center, the National Weather Service offices in the United States Weather experts Matt Barnes (Matt Barnes) said: “The next week’s weather forecast is essentially unchanged, is expected to hot weather does not interrupt.”
Monday morning trading, soybean futures rose to $ 15.42 per bushel, up 1.5 percent, at its highest level since July 2008. Attacks on the United States farmland due to high temperature, since oilseed prices rose by 15 percent since early June.
Corn prices close to $ 7 per bushel for the first time since September last year, because of the high temperature had an impact to the stem is in a vulnerable period of pollination.
U.S. Drought Relief Center (National Drought Mitigation Centre) climatologist Brian Fox (Brian Fuchs), said: “There is no massive failure, but this trend is growing rapidly.”ポルトフォイユウジェニ M93738 財布
Changes in the grain market sentiment, traders and farmers by surprise. Planting season earlier this year and has been quite successful, hedge funds and fund management institutions corn held a month ago, long to its lowest level for two years.
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