The prices of the main grains closed this Monday with general improvements in the Chicago marketin a day in which the increases of 2.6% in the soybeans, which closed above US$500and almost 3% in corn.
In this way, the November contract The oilseed rose 2.6% (US$12.68) to US$502.65 per ton, a two-month high. while the position January advanced 2.6% (US$12.86) to position itself at US$507.98 the ton.
The foundations of the increases lay in the continuity of Chinese purchases in the United States and in the adverse weather conditions in northern Brazil.
“The National Institute of Meteorology (Inmet) of Brazil today issued a red alert for a heat wave, with maximum temperatures above 40ºC, valid in much of the country until Friday,” analysts from the Granar brokerage specified.
Soybean byproducts accompanied the positive trend, with an improvement in the 0.7% oil (US$7.50) up to US$1,136.24 per ton, and a rise in flour of 4.4% (US$21.72) to close at US$517.08 per ton.
The price of wheat and corn
Corn, meanwhile, rose 2.9% (US$5.22) and stood at US$187.88 per ton, supported by the direction of soybeans and by opportunity purchases by investment funds.
Finally, wheat advanced 0.7% (US$1.38) and ended the day at US$212.75 per tonin sympathy with the increases registered by coarse grains.
“In addition, the excess rainfall recorded in areas of France – it is the main producer in the European Union – has provided support to the international market, slowing down the sowing of common wheat and flooding agricultural areas.”Granar noted.
Source: Ambito
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