The soybean futures Chicago prices rise this Monday to their highest level in several weeks, supported by concerns about planting in the United States and the jump in oil prices. And the wheat it is also gaining ground, because of risks to US crops and supplies from the Black Sea. While the corn records a slight drop.
In the case of soybeans, this trend continues the rise that had been registered on Friday, after the United States Department of Agriculture (USDA) projected plantings of the oilseed by 2023 at 87.5 million acres, near the lower end of estimates in a Reuters poll of analysts.
The contract of soy most active on the Chicago Stock Exchange (CBOT) earns 0.93% and rises to US$557.21 a tonne, having earlier risen to its highest since March 9.
In addition, the USDA also reported that March 1 soybean stocks were down 13% from a year ago and wet weather in the southern US crop belt and heavy snowfall in Dakota and Minnesota could delay plantings. In the next weeks.
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corn and wheat
Weather risks led the market for corn downplaying the USDA planting forecast, which placed the cultivated area above the average commercial estimate. Thus, corn falls 0.34% to US$159.15 dollars.
Private exporters reported selling 150,000 tons of corn to Mexico and 20,000 tons of soybean oil to unknown destinations for delivery during the 2022/23 campaign.
And finally, CBOT wheat rises 0.11% au$s254.63.
Source: Ambito
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