Soja contracts closed the week with an increase close to 3%, while soy oil futures marked historical maximums for the second day.
The soy futures in the Chicago Stock Exchange They uploaded this Friday for the third consecutive day, driven by the concern that high temperatures affect US harvests and the expectations of a rebound in the demand for soybean oil for biofuels.
With this trend, soy contracts They closed the week with an increase close to 3%. For its part, the soy oil futures They marked historical maximums for the second day, in a context of favorable expectations for the renewable fuel industry in the United States.
The grains also operated in positive terrain: the corn He scored a 4%weekly rise, recovering from the minimum contractuals reached on Monday, while wheat also traded upwards.
In detail, the most active future soybeans rose 0.6% and were located in U $ 377.63 by ton. The market had marked a minimum of three months at the beginning of the week, but began to recover before signs of greater demand since Indonesia and Chinaits main global buyer.
The weather continues to be a key factor, since weather forecasts in the United States alert about an increase in temperatures in the corn belt at the end of July and early August. According to the consultant You gothere is a risk of thermal stress especially in areas of the southwest, although it would not uniformly affect the entire productive region.
He corn rose 1.6% a U $ S160.82 by ton, driven by coverage of short positions and opportunity purchases. He wheat, Meanwhile, 2.3% advanced U $ 200.71, at a time when the boreal winter wheat harvest in the United States.
Source: Ambito
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