The futures of the Chicago Stock Exchange reached their highest price since Octoberbecause the cold in the regions of the Black Sea and the plains of the United States supported prices and promoted the coverage of short positions, according to analysts.
Corn and soy futures also rose, because operators were still pending dry weather in Argentinaone of the main producers of both crops.
Grain and soy futures were supported by a dollar that weakened and the relief of investors that the US president Donald Trump He did not immediately impose reciprocal tariffs, analysts said.
Trump’s decision to order his economic team to prepare plans for reciprocal tariffs was seen by investors as a margin for negotiation, although the operators continued to distrust a possible commercial war and reprisals against US agricultural exports.
“The fact that it is giving a lot of negotiation time is favorable for markets,” Randy Place, a Hightower Report analyst said.
The most active wheat in Chicago rose 4% Au $ S221. The most active corn contract advanced 0.6% Au $ S195.37, and the SOJA CBOT gained 0.5% Au $ 380.47.
The low temperatures in the red -winter wheat areas of Russia and the United States could Cause freezing damage to latent crops They will lose a layer of insulating snow coverage, they said runners. Moscow is the world’s largest exporter in wheat.
In France, the soft wheat harvest has already worsened significantly since December, according to data from the French agricultural office.
The concern for the offer has led to raw material funds, which maintain a large short short position in wheat, to cover their short positions, according to operators.
Source: Ambito
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