Looking ahead to the monthly report that the United States Department of Agriculture (USDA) will publish on Friday, there is consensus that the volume of the harvest will be below the 122.61 million tons forecast in July.
In this frame, The price of soybean oil advanced 0.94% to US$1,550.93 per ton, with an increase of US$14.55 compared to yesterday, while the value of meal also grew 2.80% and reached US$582.01, with an increase of US$15.87.
For its part, the price of corn rose 1.66% and stood at US$ 246.35 per ton, with an increase of US$ 4.04 amid the tensions generated by the climate in areas relevant to US production. coarse grained.
As in the case of soybeans, the market considers that the USDA will reduce its estimate on corn production on Friday from 368.44 million tons in July. In addition, the export of corn from the Ukraine limits the increases.
While, Wheat was quoted with prices rising by 1.91% to quote US$292.66 per ton, with an advance of US$5.51 due to the firmness of international demand and the deterioration of spring crops.
However, the progress of the US harvest and the favorable prospects for production in Russia limit profits and even keep prices on the European market low.
Source: Ambito
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