Prices of corn, soybeans and wheat fall in the Chicago market due to announcement of rains in South America

The corn prices fell this Thursday, followed by those of soybeans and wheat, after the announcement of rains in South America, expected after weeks of drought.

The National Metereological Service (INM) of Brazil forecasts, as of Friday, rainy in the states of Mato Grosso do Sul, Santa Catarina, São Paulo and Paraná, which together produce about half of that country’s first maize crop.

Are rains come after more than a month of dry and hot weather, which has already affected the yield of corn and soybean crops.

In Argentina, it will start to rain from Sunday in the provinces of Buenos Aires and Córdoba, the main producing regions of Zea corn, the scientific name of the grass.

The bushel of wheat (about 27 kilograms) for delivery in March 2022 fell 1.45% to $7.4675 from $7.5775 on Wednesday.

The bushel of corn for same month delivery lost 1.91% to $5.8750 against $5.9900 in the previous close.

The bushels of soybeans for March delivery also fell 1.57% to $13.7725 from $13.9925 a day earlier.

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