soybean prices fall this Thursday, June 22, for taking profits after reaching, on the previous day, multi-month highs in the Chicago Stock Exchange.
The contract of soy CBOT falls 2.7% to u$s541.78 a tonafter reaching, in the last round, the maximum value for the contract for new crops from the March 9. For his part, he corn down 2.3% to $258.16. Meanwhile, the wheat rises 0.03% at $269.97 a ton for the same contract.
Today’s session will be conditioned by the conditions of crops in the USafter the recent deterioration. The maps indicate rainalthough dispersed and it is necessary to see if they reach all the regions on drought.
As for the rise in wheatthis is due to the relief provided by the rainy for regions of France and Germany. The international demand is activealthough it would be originating in the Black Sea and Australia.
Last Wednesday, the United States Department of Agriculture lowered its ratings from good to excellent for corn and soybeans, this was due to sharp declines in the main producing states of Iowa and Illinois.
Concerns about crops elsewhere, including Europe, also increased. In Germany, the 2023 wheat crop of all types is expected to shrink 2.9% year-on-year to 21.87 million metric tons, according to the latest crop estimate from the country’s agricultural cooperative association.
The European Union’s crop monitoring service, MARS, this week cut almost all of its average yield forecasts for the 2023 grain and oilseed crops in the bloc.e, alleging adverse weather conditions.
Source: Ambito
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