The fundamentals of the rise were based on weekly exports from the United States above what was expected by the market.
The United States Department of Agriculture (USDA) reported sales of 1.3 million tons when the average calculation of operators was around 650,000 tons, indicated the Rosario Stock Exchange (BCR).
This situation, added to forecasts of dry weather in the North American country, supported prices.
Meanwhile, its by-products had an uneven closing, with an advance of flour of 1.99% (US$9.7) to US$495.37 per ton, while oil fell 1.7% (US$ s25.35) to position itself at US$1,460.76 per ton.
For its part, wheat lost 4.15% (US$11.67) and stood at US$268.78 per ton due to lower than expected exports and the strength of the dollar against the main world currencies that makes US grain less competitive.
“The USDA reported the lowest weekly foreign sales of the campaign, barely exceeding 200,000 tons, which also represents a drop of 46% compared to the average sales of the last four weeks,” detailed the BCR.
Lastly, corn gained 0.77% (US$1.87) and stood at US$243.98 per ton, due to exports around the expectations of the operators, which boosted the taking of positions, although slow US marketing coupled with the start of Ukrainian shipments capped profits.
Source: Ambito
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