“The basis that generated the fall and the withdrawal of profits from investment funds was the news of a breakthrough in peace negotiations between Russian and Ukrainian officials, which would allow a ceasefire and the departure of Russian troops from territory Ukrainian”, explained the runner Granar.
In this line, the company’s analysts indicated that “the chance of a revival of trade from the Black Sea area and the possibility that Ukrainian farmers manage to return to their activities to harvest the new harvest and for spring planting would decompress the tension in the market.
On the other hand, a report from the Rosario Stock Exchange (BCR) added as another bearish factor the beneficial rains for the crop in the North American Plains.
For its part, corn fell 3.7% (u$s11.02) and ended the day at u$s287.39 a tonalso due to the possibility that the negotiations between Russia and Ukraine could put a stop to the clashes.
As for soybeans, losses in the May contract were 0.6% (US$3.49) to US$606 per tonwhile July closed with a fall of 0.6% (US$3.58) to conclude at US$597.45 per ton.
The declines in wheat and corn were the main factors that pushed the oilseed down, as did its by-products: oil fell 0.2% (US$2.87) to US$1,621.47 per ton, while flour fell 1.2% (US$6.61) to position itself at US$526.89 per ton.
Source: Ambito
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