The reasons for the decline lay in beneficial rains for the crop in productive areas of the United States “necessary for the efficient development of the crop”, indicated the Rosario Stock Exchange (BCR).
Likewise, a cut in the interest rate by China, “enhanced the bearish effect” as this action “stoked concerns about faltering growth in the world’s largest soybean importer”said the BCR.
Its by-products also ended the session with losses, with oil falling 1.6% ($24.25) to $1,495.59 a ton, while meal sank 3.6% ( u$s17.97) to end the session at u$s480.49 per ton.
How much did corn close in Chicago
For his part, the corn fell 2.5% (US$6.20) to settle at US$240.54 the ton, as a result of beneficial rains and “cooler temperatures this week that could provide late relief for corn crops” in United States.
In turn, technical selling and cooler, wet weather in the US Midwest added bearish pressure.
How much did wheat close in Chicago
Finally, wheat fell 1.8% (US$5.42) to position itself at US$288.81 per ton, due to the departure of merchandise from Ukrainian ports and the strengthening of the dollar against the main basket of currencies worldwide.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
