The fundamentals of the rise lay in the lack of rain and the heat wave that is hitting the producing areas of the United States.
“The extreme heat and widespread drought in parts of the US Midwest such as Nebraska and Iowa have deteriorated crop yields and this led to all prices rising,” said the Rosario Stock Exchange (BCR).
Its derivatives also had significant gains, with a jump in the price of flour of 4.38% (US$ 22.16) to US$ 527 per ton, while oil gained 2.5% (US$ 38.14). ) to end the session at US$ 1,561.29 per ton.
For his part, the corn advanced 1.7% and positioned himself in u$s263.27 the ton, for clear and dry weather in the United States that affected the crop.
On an agricultural tour in the North American country called the Pro Farmer Midwest Crop Tour, the technicians discovered that “western growing areas such as Nebraska and South Dakota suffered the impact of the weather this summer”, which led to an increase in the prices of the cereal .
In addition, drought problems were also registered in Europe and cereal conditions in France decreased last week to their lowest rating in more than 10 years, according to data from the FranceAgriMer agricultural office.
Finally, wheat had a rise of 1.9% and closed to $288.35 the ton, due to the fStrong international demand for grain and the coupling of cereal to the rise in coarse grains.
Source: Ambito
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