The soy for July fell 0.8% to US $ 379.74 a ton, the lowest level of the contract since April 11. The corn for July lost 1.3% au $ S172.53, while wheat for the same month rose 0.9% Au $ S198.04.
The futures of the soy and oil of this crop They fell strongly this Monday in Chicago to minimum of seven weeksdue to the Concern for the demand of the American oilseed and a favorable climate for crops, According to analysts.
For its part, Corn futures followed soybeans, but those of the wheat rose Due to the coverage of short positions after an attack of unmanned planes of Ukraine in Russia that put the attention in the war between the two grain exporters, and due to the weakness of the dollar.
The soy for July dropped 0.8% to US $ 379.74 a ton, the lowest level of the contract since April 11. He corn for July lost 1.3% au $ s172.53while The wheat for the same month rose 0.9% Au $ S198.04.
Dollar soy withholdings
Depositphotos
American soy was seen pressured by commercial tension with China, The biggest world buyer, after President Donald Trump accused Beijing on Friday to violate an agreement with the United States to mutually reduce tariffs. However, Trump and Chinese leader Xi Jinping will probably talk this week, said the White House on Monday.
The vast Brazilian soy supplies continue to weigh on the market. The agribusiness consultant Agraural raised its prognosis for the soy harvest of Brazil 2024/25 in 1.3 million tons, to 169 million tons, for an improvement of yields in several states.
The uncertainty about US biofuel policy pressed the futures of CBOT soybean oil, which also reached their lowest level since mid -April.
“The prices of soybeans and soybean oil continue with the decline that began last week, since the signals of the graphics become negative, with little help of commercial conversations between China and the United States that have broken”wrote the chief economist of basic products of Stonex, Arlan Suderman, in a client note.
Source: Ambito
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