CHICAGO/SINGAPORE- US corn, wheat and soybean futures posted yearly gains, with strong demand and supply constraints in some key production areas of the globe underpinning the markets throughout 2021.
Corn futures Sv1, which jumped 22.4 percent this year, paced the grain markets, supported by increased feed usage by livestock as well as a rebound in the ethanol sector as drivers returned to the roads due to easing COVID-19 restrictions. The corn market has risen for four years in a row.
Wheat futures were up 20.3 percent for the year, their fifth straight yearly gain and their biggest since 2010. Crop problems in Australia and worries about export curbs in Russia have supported the wheat market through 2021.
Soybean futures, which hit their highest level since 2012 in May, were up just 2.2 percent for the year, as a bumper harvest in the United States and good growing weather in Brazil pressured prices during the fourth quarter.
