Soybeans closed higher in a year in which they reached record values

Those concerns about weather conditions and strong export demand pushed soymeal futures on the Chicago Stock Exchange to the highest prices since March 31. It also pushed January, March and May soybean meal futures to new contract highs on Friday.

Weather concern in Argentina and Chinese demand

In Argentina, operators are attentive to the weather forecasts that pointed to high temperatures and light rains in the coming days. The Buenos Aires Grain Exchange said on Thursday that 500,000 hectares of soybeans could remain unplanted if the rainy situation impedes the progress of field work.

Investors also continued to assess the prospects for demand in chinathe world’s largest importer of soybeans, as the removal of COVID-19 restrictions stoked a wave of infections but also raised hopes of an economic rebound next year.

The dynamics of wheat and corn

The wheat and corn They also gained on Friday amid a slowdown in farmers’ sales and concerns over winter storm damage to US wheat crops.

In the year, the wheat It would close almost unchanged, with a rise of 15.50 cents to US$791, at levels similar to US$773 at the beginning of the year. Futures for that grain rose to an all-time high in March, topping $1,350, after Russia’s invasion of Ukraine dampened global supplies. But a rebound in Black Sea trade in recent months, helped by a shipping corridor from Ukraine and a record Russian crop, has tempered supply fears caused by Moscow’s encroachment on its neighbor and pushed prices back higher. moderate.

The corn, while in the last day of the year it fell 0.5 cents (0.7%) to cents to u$s678.50. A slowdown in US foreign sales of this grain led to bearish pressure and, in turn, that was fueled by a rebound in Black Sea trade in recent months, helped by the Ukrainian shipping corridor and a Russian crop that estimated record, has eased stock fears.