Wednesday, September 28

Soy posted the eighth consecutive rise and reached a new 4-month high

The hot and dry climate in South America can affect the crop. Market sources understand that “a tight harvest in the southern hemisphere could increase demand for US grains, which supports prices.”

However, the low weekly exports from the United States limited the increases, indicated the Rosario Stock Exchange (BCR).

Soy by-products also rose, with an improvement of 1.1% (US $ 13.45) in the oil up to US $ 1,222.22 per ton, while the flour It gained 0.8% ($ 3.64) to close at $ 447.64.

For his part, corn It advanced 0.5% (US $ 1.28) and reached US $ 238.47, also due to weather problems in Brazil and Argentina.

“Climate forecasts indicate the absence of rainfall and high temperatures for these areas, which could cause stress on crops,” warned the BCR.

Finally, the wheat It had a small rise of 0.1% (US $ 0.28) and stood at US $ 299.3 per ton, due to a robust international demand, to which were added rumors that Ukraine could limit its exports of the cereal.