Thursday, March 28

Grains climbed up to 5.2% in the week: soybeans touched $520 per ton


The March position of the oilseed fell 0.8% to US$519.93 a ton, while the May contract fell to US$522.86.

The reasons for the declines were due to “a profit-taking by investment funds after the increases close to 5% accumulated in the two preceding days”, specified the runner Granar.

They also contributed to the declines “the rains that are recorded in agricultural areas of Argentina, plus the forecast of new precipitations in the coming days”, expanded the consultancy.

Beyond this Friday’s low, the weekly balance for the March contract of the soybean marked an increase of 3.3% and 3.2% in the May position.

Meanwhile, flour ended the day with reductions of around US$9 and ended the week with a loss of 3.2%, after going from US$447.09 to US$432.87.

Analogously, the wheat lost US$3.77 and ended the day at US$286.60 per ton, but in the weekly balance it ended with a rise from 5.2% and managed to break the sequence of three consecutive bearish weeks.

“The main reason for the weekly improvements was the tension in the border area between Russia and Ukraine”Granar explained.

By last, corn earned u$s2.07 and positioned himself in US$242.61 per ton, as a result of the fact that “the USDA reported corn sales for 2021/2022 of 1,091,300 tons, above the 457,700 tons of the previous report and the range forecast by the private sector”Granar said.

In this way, the cereal concluded the week with gains of 3.4%.



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