After hitting five-month lows last week, it rose for the second day in a row in the Chicago market, supported by an increase in oil prices for the oilseed.
Soybean futures rose (although very slightly) for the second consecutive day this Monday, March 27, in the Chicago market, supported by an increase in oil prices from the oilseed.
Thus, after hitting five-month lows last week, the price of soybeans increased by 0.97% to u$s529.93, therefore, in the last two days, it accumulates a rise of almost 1.7% uu$ s8,24.
For its part, corn also rose, after an initial drop, and once again showed positive dynamics, in line with recent weeks and the previous session. And there is also an improvement in wheat, which is showing a rise on the back of short covering and uncertainty about Black Sea exports.
Private exporters reported selling 112,800 tons of corn to unknown destinations, the US Department of Agriculture reported.
And the most active corn contract on the Chicago Stock Exchange (CBOT) increased its value by 0.81% to US$255.21. Wheat, for its part, also rose 1.36% to u$s256.47.
Traders are assessing uncertainties over the Black Sea grains deal after Russian business newspaper Vedomosti reported on Friday that Moscow may recommend a temporary halt to wheat and sunflower exports.
Sources told Reuters that Russia did not plan to halt wheat exports, but wanted exporters to ensure prices paid to farmers were high enough to cover average production costs.
Source: Ambito
