In this regard, the grain broker Granar specified that “The strength of the wheat market is structural, due to a limited supply after the lower harvests in Canada, the United States and Russia, and due to the avidity of demand, which in the current scenario seems resigned to validate the successive price increases”.
For its part, the November contract of the Soy increased 0.1% (US $ 0.37) to US $ 454.43 per ton, while the January position fell 0.1% (US $ 0.37) to end the day at US $ 458.75 per ton and the rest of the contracts also presented negative results.
“Among the factors that provided support (to the November contract) were the improvement of oil, the confirmation of a new purchase from China and a partially positive report on inspection of shipments,” said Granar.
On the other hand, the drops were due to “technical sales after having registered their highest weekly profit in more than two months the previous week,” according to the Rosario Stock Exchange (BCR) report.
Meanwhile, its by-products presented mixed yields, with a decline in flour of 1.1% (US $ 3.86) to US $ 362.76 and an increase in oil of 1.2% (US $ 15, 43) up to US $ 1,366.18 per ton.
In turn, the corn its position in December grew 1.9% (US $ 4.23) to US $ 227.94 per ton, and closed with gains for the fifth consecutive round “in sympathy with the strong increases in wheat and thanks to the purchases made for investment funds, “explained Granar.
Source From: Ambito
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