In this way, the March position of the oilseed advanced 2.3% to US$523.43 a ton, record since last June 10, while the May contract climbed to US$527.09 per ton.
The fundamentals of the rises lay in “the forecasts of very hot weather and little rain during the weekend over southern Brazil”, specified the broker Granar.
“In Brazil, crops not only failed to reverse the hydric stress picture they have suffered since mid-November, but now their picture could worsen if the predictions of thermal marks around 40º for Rio Grande do Sul come true,” expanded the consultancy.
In tune, the prices of flour and oil ended with increases of US$2.76 and US$46.74, respectively.
For its part, wheat lost 0.9% and ended the day at US$290.37 a ton, due to “investment fund profit taking”.
By last, corn in its March contract closed with a tiny drop and stood at US$240.25 a ton.
“As in the case of soybeans, a new heat wave forecast for southern Brazil, where the rains of recent days were insufficient and heterogeneous, provided some support to prices by prolonging the uncertainty about the final number. of the first harvestGranar said.
Source From: Ambito
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