The The reasons for the decline lay in a drop in demand from China due to the restrictions imposed by the resurgence of Covid-19the devaluation of the real against the dollar that adds competitiveness to Brazilian merchandise and the sharp drop in oil, which hit the price of oil head on.
Saying by-product had a decrease of 3.69% (US$ 59.74) to US$ 1,557.76 per tonwhile flour, in its closest contract, rose 0.25% (US$1.21) to end the day at US$476.63 a ton.
For its part, the July position of corn gained 0.95% (US$ 2.85) and stood at US$ 302.35 a ton, although the most distant contracts ended with losses of around 1%.
“Forecasts of good weather in the producing areas of the United States for pollination in early July put pressure on prices“, indicated a report from the Rosario Stock Exchange (BCR).
In turn, the volatility of the oil market added downward pressure.
Lastly, wheat improved 0.12% (US$ 0.46) and closed at US$ 358.80 a ton, after yesterday’s sharp declines, which led investment funds to cover short positions. .
Source: Ambito
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