Grain prices remains stable in the US on June 21

U.S. corn and soybean futures prices held steady after the market rallied late last week on concerns that hot, dry weather will lead to harvest shortages. Traders said the market remains underpinned by the most recent forecasts, which remain unfavorable for key growing regions in the US Midwest. The major paradigm shift we predicted later this month has not happened, while temperatures stay safely above normal between now and June and early July, commodity economist StoneX chief Arlan Suderman said. The wheat market was mixed, with the Chicago Board of Trade's most active soft red winter wheat contract hitting a more than two-month high. But poor export demand for U.S. supplies hit the hard red winter wheat and spring wheat contracts. Algeria's state grain agency OAIC is said to have purchased about 630,000 tonnes of milled wheat, much of which is believed to have originated from Russia, in an international tender. Large Russian exports have allayed concerns about a possible ...