Thursday, March 28

Soybeans exceeded $ 500 for the first time in more than 4 months


The fundamentals of the rise lay in, as happened in the previous days, the lack of humidity in southern areas of Brazil and in producing regions of Argentina and Paraguay, a situation that encourages investment funds to continue operating as active buyers of bean, oil and flour contracts, specified the brokerage firm Granar.

“The weather pattern over South America is static and that system is now showing that there could be problems towards Argentina,” said Don Roose, president of US Commodities, based in Iowa. “The question now is whether a La Niña weather pattern will continue to stress crops “.

For its part, corn advanced US $ 3.55 and reached US $ 242.02 per ton, also due to weather problems in Brazil and Argentina and completed the fourth bullish round in a row.

“The funds speculate that the dry weather in southern Brazil will affect the volume of the first Brazilian crop and that the persistence of lower than normal rains during the first months of 2022 in southern Brazil and Argentina will reduce the exportable supply from both competitors from the United States, “said Granar.

In the last hours, it was known that China will stabilize its corn production and expand its soybean production in 2022, the Communist Party’s People’s Daily quoted the Minister of Agriculture on Monday.

By last, Wheat fell by US $ 3.95 and stood at US $ 295.42 per tonDue to “technical issues after starting the day on the rise. In addition, a lower volume traded than normal causes movements in cereal prices greater than usual,” said the Rosario Stock Exchange.



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