Commodities
Corn and Wheat Futures Reach Multi-Year Highs Amid U.S. Yield Concerns
Corn and wheat futures reached multi-year highs on Wednesday as concerns grew over U.S. corn yields and Black Sea grain export disruptions.
The most-traded corn contract on the Chicago Board of Trade rose 0.8% to $5.27-3/4 per bushel, its highest level since July 2023.
CBOT wheat increased 1.5% to $713-1/2 per bushel after reaching $7.18, its highest point since May 2024.
The corn rally followed results from a Midwest field tour that projected this year's U.S. crop well below the USDA's current forecast.