Cereal prices are on the rise, largely due to drought in key areas of production. In addition, the demand for cereals for both food and human consumption is high.
Demand for cereals in the global market is still high. Wheat and corn prices have risen sharply in the past week.
In the Paris futures market, the wheat contract for delivery in December 2020 increased by approximately 9 euros (4.4%) per week, and the corn contract for delivery in November 2020 increased by approximately 10 euros.
In the Chicago futures market, the wheat market in 2020 was significant, but corn prices showed moderate growth (about 2%). Last Monday, Chicago saw an uptrend in all corn contracts, including December 2020 and March 2021.
The dramatic rise in Chicago wheat prices reflects the fact that Americans can trust the export of this crop.