The fundamentals of the rise lay in the “good export dynamism” of the United States, with new sales to China and concern about the climate in the producing countries of South America, especially Argentina, which registers a delay in planting of almost 20 points. percentages compared to the same period last year, indicated a report from the Rosario Stock Exchange (BCR).
Soybean meal accompanied the rise in grain, with a jump of 4% (US$18.96) to US$495.15 per ton.
In contrast, soybean oil fell again, this time, 1.6% (US$22.71) and settled at US$1,408.71 per ton.
For his part, wheat lost 1.4% (US$3.67) and settled at US$259.23 a tonbecause a production record is expected in Russia and Australia.
In wheat, the downward pressure added that “shipments from the Black Sea area flow without major mishaps after the renewal of the Istanbul agreement, with Russia discounting the delay registered in its sales between July and the end of September,” explained the broker Granar.
Finally, Corn fell 0.51% (US$1.28) and settled at US$246.25 a tonas it is coupled with “the deep drop that the value of wheat has been experiencing and due to a pace of exports and shipments that is slower than necessary to meet the goals set by the United States Department of Agriculture (USDA,” explained Granar.
Tied to this, the private companies consider that on Friday the organization will raise the calculation on the final US stocks from 30.02 to 31.45 million tons in its monthly report.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
