Adecoagro’s rise takes place in the context of soybean futures hit a 9-1/2-year high in recent days as the war between Ukraine and Russia endangered the supply of sunflower oil from the Black Sea, which could increase demand for other vegetable oils, including soybean oil.
In this context, “you can invest in companies like Adecoagro (ADGO), an Argentine company that produces food and renewable energy, which has 200,000 hectares with soybean, wheat, cotton and sunflower plantations in the humid pampas,” he had advanced. Maximiliano Donzelli, head of Research at IOL investonline, in dialogue with Ámbito.
In the last hours it was also known that a company belonging to the Russian giant Gazprom declared bankruptcy after it could not take payments. Nord Stream 2 AG had been in charge of building and putting into operation the gas pipeline that bears its name.
As for the rise in mining the cause is the increase in the value of gold, active a safe haven, which on Monday grew up to 2.2% and approached the maximum of 17 months reached last week. So far, the energy and mining sectors have also grown due to fears of supply restrictions.
For your part on Wall Street, the main indices were operating with a positive sign, the Dow Jones Industrials, gained 2%. Meanwhile, the selective index S&P 500 operated with a rise of 2%, and the technological Nasdaq registered a rise of 1.5%according to the Bloomberg agency.
Source: Ambito
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