The corn gained 1.3% and settled at US$265.64 a ton, also due to weather problems in Argentina and Brazil.
The wheat wheat lost 0.2% and settled at US$ 284.58 a ton, as a consequence of the European and Russian sales of the cereal to the detriment of the American ones, despite the fact that the snow storm that hit the productive areas of the North American country could have damaged the crops.
According to the Granar brokerage, market operators believe that the United States Department of Agriculture should reduce its estimate of soybean production for Argentina within a range of 43 and 45 million tons, against the current forecast of 49.5 million tons.
Added to this is the dry climate that also exists in southern Brazil. and a relaxation in the Covid 0 policies in China that encouraged the rise in prices.
Soybean oil accompanied the improvement of beans with an advance of 2.6% to US$1,491.40 a ton, while flour fell 0.8% to settle at US$498.01 a ton.
Yesterday the Brazilian National Supply Company (Conab) indicated that the recent rains in Rio Grande do Sul helped in the recovery of some crops, but they failed to reverse the already consolidated losses for the first corn harvest, they pointed out from Granar.
Source: Ambito
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