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[CBOT soybean futures prices risehouseofslotsfreecoinsFlood concerns push up markets]
Yesterday, the closing price of soybean futures on the Chicago Board of Trade (CBOT) rose significantly. Analysts revealed that market concerns about the impact of floods in Brazil on production have deepened.
Recent floods in Brazil have blocked cargo operations at the port of Rio Grande do Sul. Analysts have warned that logistics in the area has been severely damaged and infrastructure repairs may take 12 months or cause supply chain interruptions.
At the same time, concerns about bad weather in the Black Sea region and delays in planting crops in the United States have also fueledhouseofslotsfreecoinsPrice of agricultural product futures. The planting progress in the United States is affected by rainy weather. Although some areas made planting progress last week when the weather improved, soybean planting speed has exceeded the historical average.
