Corn and soybeans prices rose on concerns about supply disruptions. Corn prices rose to a two-month high, while soybeans prices rose to a one-month high.
The rise in corn and soybeans prices comes as investors continue to weigh the risks of supply disruptions against concerns about demand. The war in Ukraine has disrupted global grain supplies, and there are concerns that this could lead to higher prices and inflation. However, there are also signs that the global economy is starting to recover from the COVID-19 pandemic, and this could lead to higher demand for agricultural products.
The currencies markets were also mixed on June 13, 2023. The US dollar rose against the euro and the Japanese yen, but it fell against the Australian dollar and the Canadian dollar.
The rise in the US dollar comes as investors continue to seek safety in the US currency amid the ongoing war in Ukraine and rising inflation. However, the US dollar is also facing headwinds from the Federal Reserve’s plans to raise interest rates in an effort to combat inflation.
Here are some of the key factors that are likely to influence the commodity markets in the coming days:
- The war in Ukraine and other geopolitical risks could continue to disrupt global supply chains, leading to higher prices for commodities.
- The global economy is starting to recover from the COVID-19 pandemic, and this could lead to higher demand for commodities.
- Inflation is a major concern for investors, and this could weigh on demand for commodities.
- Central banks around the world are raising interest rates in an effort to combat inflation. This could weigh on economic growth and demand for commodities.