Thus, the August oilseed contract rose 1.7% (US$10.20) to US$601.49 a ton, while the September position increased 2.1% (US$11.11) to end the day at US$546.47 per ton.
Thus, soybean prices closed higher for the sixth consecutive round, underpinned by “the ratification of forecasts of dry and very hot weather over the main coarse grain producing areas of the United States, where crops are defining their yield potential”according to the consulting firm Granar.
With these records, the oilseed ended the week with gains of 14.1% in the August contract and 12% in the September position.
Soybean by-products, meanwhile, today presented dissimilar results, with a slight advance in the short flour contract of 1.1% (US$6.17) to US$545.96 and falls in the rest of the positions this year, and an improvement in the oil of 4.2% (US$60.85) to end the day at US$1,512.35 per ton.
For its part, Corn advanced 0.2% (US$0.49) and stood at US$242.61 a ton, which added five consecutive rounds in green.
The increases responded to “the same meteorological reasons given in the soybean space, other than that the cereal has a few weeks of advantage in terms of the formation of the potential yield of the crops”noted the Granar report.
Thus, corn also ended a positive week, in which it accumulated a gain of 9.2%.
For the last, wheat decreased 1.1% (US$3.40) and closed operations at US$296.80 per ton, due to the expectation generated by the possibility that before the end of the week the first ships loaded with grains will depart from Ukraine, which would reactivate exports in that country and increase global supply.
Despite today’s declines, cereal closed the week with gains of 6.4%.
Source: Ambito
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