The Granar brokerage, when analyzing the day, maintained that the losses were due to “the continuity of the withdrawal of profits from the large speculative investment funds that began yesterday, which do not need solid market fundamentals to resolve an abrupt liquidation of positions.”
“Regarding the fundamentals, nothing changed. The war between Russia and Ukraine continues and trade continues to be interrupted from the pole that supplies about 30% of world demand“, added the Granar specialists.
Available soybeans, meanwhile, fell 1.1% (US$6.61) to US$619.68 per tonwhile the May contract lost 1.1% (US$6.61) to end the session at US$614.26 a ton.
The losses were explained by “the wave of sales and profit-taking caused by the large speculative investment funds,” Granar pointed out.
On the contrary, soybean by-products presented positive figures in their available contracts, with an increase in oil of 0.5% (US$8.60), which stood at US$1,765.21 per ton, while flour advanced 1.1% (u$s5.62) and ended the day at u$s545.63 per ton.
Finally, available corn decreased 2.6% (US$7.68) and stood at US$289.36 per tondue to the profit-taking movement of investment funds and due to the drop in wheat prices.
Source: Ambito
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