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US frosts set grain prices up
The US grain futures rose in price on Monday, having risen from a three-months minimum. The main driver of trade is the cold weather, which has come from the Arctic on the territory of the Great Plains of the USA.
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  • The cold weather won't possibly cause heavy damage of winter crops in the USA yet, since the cold snap was accompanied by snowfalls, which have covered fields. But snowfalls and snow-storms significantly damaged logistics, having slowed down goods movement in export chains.
  • The exchange reacted to the cold weather and blizzards with grain prices growth. The next wheat futures (March, 2014) grew up to $6,575 for a bushel ($242 for a ton). Prices on corn (the March futures grew by 0,3% to 171$/t) and soy (January +0,43% to 489$/t) went on similarly.
Источники: Agro2b
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