“The potential yield was so high this year that even with damage of 10 to 30%, yields are among the best marks of the last five years,” he added.
It is worth noting that Argentina is the world’s leading exporter of soybean oil and flour, the third largest of corn, and a key international supplier of wheat.
International price of grains
Wheat futures fell 1.5% during this session in the Chicago Market by forecasts of moderate temperatures and some rain in the main growing areas, which contributed to hopes that the crop will be in good condition before entering dormancy, operators said.
“The US climate for wheat looks pretty good,” said Terry Reilly, senior commodities analyst at Futures International. “Warmer temperatures are expected to perhaps give wheat conditions a bit of a boost.”
Meanwhile, corn and soybean futures rose, recovering from the weakness of the previous wheel, after the United States Department of Agriculture announced new exports.
Private exporters reported the sale of 130,000 tons of soybeans to China, the fifth consecutive day that an immediate sale of the oilseed was announced, and 1.844 million tons of corn to Mexico. In that framework, soybean futures as of March rose 0.5%, while corn for March rose 0.9%.
Source From: Ambito
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