PARIS/BEIJING: Chicago soybean and corn futures ticked higher on Wednesday to hold above four-year lows, with traders seeing signs of fresh demand after recent prices falls while they awaited more results from a major US field tour.
Wheat edged lower.
Price lows and a slide in the dollar, as investors increasingly anticipate interest rate cuts by the US Federal Reserve, have bolstered the competitiveness of US grain in the past week, though big expected harvests remain a curb on the market. “All the main crops seem to be in the consolidation mode,” Andrey Sizov, head of grain consultancy SovEcon said. “Dollar weakness supported by Fed (rate) cut expectations should help US crops, wheat first of all, but this factor has been muted so far.”
Source: Brecorder
