The fundamentals of the rise were based on weekly exports from the United States above what was expected by the market.
This situation, added to forecasts of dry weather in the North American country, supported prices.
For his part, the wheat lost 4.2% and was located in u$s268,78 the ton, due to lower exports than expected and the strength of the dollar against the main world currencies that makes the US cereal less competitive.
Finally, corn gained 0.8% and positioned himself in $243.98 the ton, as exports around traders’ expectations, which fueled position taking, although slow US trading coupled with the start of Ukrainian shipments capped gains.
The The fundamentals of the rise on the eve were based on technical purchases and “rumors about new purchases that China would have made in the Gulf areasomething that operators will expect to see confirmed in the coming days,” grain broker Granar said.
Also, there was expectations of a lower yield in the US crop boosted pricesalthough new rains in productive areas of the North American country put limits on the rise.
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.
