Hurricane leads to grain price drop
U.S. corn December futures lost more than 30 cents last week, with contracts hitting a seven-week low as worries about shipping delays from the U.S. Gulf Coast triggered a round of long liquidation, Reuters reported last week.
Soybean futures also hit a two-month low, and wheat followed the weaker trend.
Hurricane Ida damaged two grain export elevators owned by Cargill in Louisiana, and rival shipper CHS warned on Aug. 30 that its grain facility may lack power for weeks after the storm tore through the busiest U.S. grains...
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