© Archyde.com/Roberto Samora
Illustrative file photo of a combine harvester in a soybean field in Porto Nacional, in the Brazilian state of Tocantins
Por Mark Weinraub
CHICAGO, March 25 (Archyde.com) – Chicago Stock Exchange soybean, wheat and corn futures rose on Friday, recovering from falls in overnight trading.
* The strength in soybeans was due to signs that demand for US supplies remains strong, even with freshly harvested soybeans from South America available on the market.
* Corn futures benefited from a squaring of positions ahead of a closely watched article on US farmers’ planting plans due to be published by the government next week.
* Wheat futures rose after three consecutive days of declines, as investors followed gains stemming from ongoing fighting between Russia and Ukraine.
* At 1558 GMT, Chicago May soybean futures were up 6 cents at $17.0675 a bushel.
* Private exporters reported selling 132,000 tonnes of soybeans to China for delivery in the 2021/22 season, the US Department of Agriculture said on Friday. It was the third time this week that the government has announced a so-called “quick sale” of supplies from the old crop.
* “US soybeans are cheaper than Brazil and Argentina as of September,” said Terry Reilly, principal commodity analyst at Futures International. “With the interim sales, it kind of confirms that the US is competitive.”
* May corn was up 4.5 cents at $7.5275 a bushel and May wheat was up 4.5 cents at $10.90 a bushel.
* Wheat had fallen in the previous three sessions, its longest losing streak since before Russia’s invasion of Ukraine disrupted shipments from those two key global suppliers.
(Edited in Spanish by Javier Leira)