On July 26, 2021, the Argentine government declared a state of emergency due to the extremely low level of the main waterway in the country - the Parana River. The level is at a 77-year low.
Yesterday, CBOT SRW wheat, corn and soybeans futures prices fell sharply. In Paris, the prices of the new wheat and corn crops fell, while rapeseed futures prices rose.
In their July report, analysts from Agriculture and Agri-Food Canada lowered their forecast for the wheat production in Canada in 2021 by 0.3 million tons to 31.4 million tons (35.2 million tons in 2020).
CBOT SRW wheat futures prices rose significantly yesterday. Corn and soybean futures prices in Chicago rose slightly. In Paris, wheat and rapeseed futures prices fell and corn futures prices fluctuated.
In July, corn exports from Brazil are projected to reach 3.195 million tons, according to Anec's forecast, and this will be 37.4% lower than in July 2020.
