“The persistence of the confinement measures that take place in the main Chinese cities could have consequences on the demand for grains by the eastern country,” argued the Rosario Stock Exchange (BCR).
Likewise, some operators considered that the delay in corn planting in the United States would lead some producers to finally end up planting a larger area with the oilseed.
For its part, soybean meal accompanied the downward trend of beans, with a fall of 1.5% to US$481.04 per ton. Meanwhile, oil advanced 2% to position itself at US$1,858.47 per ton.
For its part, corn fell 1.5% and stood at US$315.24 per ton, after starting the day with slight increases. The United States Department of Agriculture (USDA) reported that the progress of planting in the North American country “only reached 14% of the area versus the 16% that operators estimated on average.”
An improvement in conditions in recent days makes it possible to anticipate that the work “advance notably in the week and it will be possible to implant a good part of the batches” in producing areas of the US, said the Rosario Stock Exchange.
By last, wheat fell 0.9% and stood at US$379.84 per tonpressured by the recent rains that occurred in some US producing areas that “would bring relief to the crops in the North American country, which presented their worst condition since 1989.”
Source: Ambito
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