For the first time in three months the price of soybeans passed 450 dollars in the Uruguaywhile in the international grain market in the American city of Chicago managed to break through the $500 barrier.
The prices of the crop moved upwards and were chained in four days of Profits, which caused the international price to climb above $500, for the first time in seven weeks, advancing from $497 to $508. This phenomenon occurred due to dollar weakness which boosted cereal prices.
Meanwhile, in the local market, reference operators from different parts of the Uruguay They assured the price climbed above $450 for the first time in seven months. However, so far, the position on soybean prices is at a low level due to the uncertainty of the harvest and prices, as explained by the director of Nuevo Surco. Pablo Engelhardt, on the program Tiempo de Cambio on Radio Rural.
However, there are other factors that give hope to the cultivation of Uruguay. The first of them is the dry climate in Brazil, which compromises summer crops and is presented as an opportunity for Uruguayan producers. On the other hand, as reported by Engelhardt, soybean planting has already begun in Paysandu and the costs of fertilizers and agrochemicals were lower than the previous campaign.
Bad news for Brazil, good news for Uruguay
The effects of the storm The boy they are doing their effects on Brazilian fieldswhich could mean an opportunity for the Uruguay.
According to the consultant Agriculturalsoybean planting 2023/24 Brazil Until last Thursday, it had reached 40% of the planned surface area, 10 percentage points more than the previous week. In that sense, planting remains behind last year’s levels, when 46% of the areas had been planted at the same time.
AgRural assured that field work lost strength in the main grain producing state, Mato Grossoas some areas there deal with dry weather, which affects the overall pace of planting in Brazil, even as other states recorded some favorable rains, the consultant added.
“The light and scattered rains expected for Mato Grosso arrived and helped alleviate the heat, but the volumes and distribution remained very irregular,” he established, adding that in the driest and/or backward areas, the fear of needing to replant persists. large areas of soybeans and planting part of the 2024 second corn crop outside the ideal window.
Furthermore, they reported that farmers in south-central Brazil They have planted 53% of the area planned for their first corn harvest of 2024, up from 46% a week ago, but below the 56% recorded a year earlier.
Source: Ambito
