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Crop prices rise on Mississippi closure

Crop prices rise on Mississippi closure

Corn and wheat prices are rising after the Coast Guard closed a port on the Mississippi River Tuesday because of flooding.
The Mississippi is a major avenue for grain exports to reach the Gulf of Mexico and overseas markets beyond. The port closure could temporarily disrupt grain shipments in a market where global supplies are already tight.
The Coast Guard said it closed the port in Natchez, Mississippi, because barge traffic could increase pressure on the levees, and fears that barges couldn't operate safely in the flooded river.
In contracts for July delivery, wheat jumped 27.5 cents to settle at $7.64 a bushel. Corn rose 22.75 cents to $7.2025 a bushel and soybeans rose 14.5 cents to $13.41 a bushel.
In other trading, metals and energy prices fell.


Updated : 2021-04-12 06:47 GMT+08:00