2023-05-09 22:02:02
The price of soybeans available and for merchandise fixings rose $1,000 to $105,000 a ton on the Rosario Stock Exchange (BCR).
This improvement occurred within the framework of the validity of the new edition of the Export Increase Program (PIE), which establishes a differential exchange rate of $300 per dollar for the soybean, sunflower, feed barley and sorghum complex.
In the case of sunflower, no purchase offers were registered on Tuesday, while sorghum was traded at $70,000 a ton.
For its part, corn with immediate unloading closed unchanged at US$ 210 per ton, while delivery in May reached values of US$ 200.
As for the late harvest cereal, the June position fell US$5 to reach US$200, while July fell to US$190 and August to US$185.
Finally, the offer for unloaded wheat was sustained at US$280 per ton, while the delivery between December and February 2024 was US$235.
How prices behaved in the Chicago Market
The prices of the main grains closed a new downward session in the Chicago market, affected by the firm advance of corn sowing in the United States and the good condition of wheat in Europe.
The May contract for the oilseed fell 1.15% (US$ 6.25) to US$ 533.43 a ton, while the July position fell 1.36% (US$ 7.17) to position at US$ 519.65 a ton.
In its weekly report, the US Department of Agriculture (USDA) noted that “new rains over the north-central Great Plains and parts of the Midwest provide needed moisture for soils and crops, especially considering that the forecasts extended from 8 to 14 days augur the arrival of warmer and less humid weather in the areas that produce large grains, so all the moisture that the soils can add is welcome.”
Soy by-products accompanied the drop in beans, with a decrease of 1.13% (US$ 13.45) to US$ 1,169.31 per ton, while flour fell 2.13% (US$ S 10.03) to position at US$ 458.99 a ton.
Corn, meanwhile, fell 2.17% (US$ 5.61) and closed at av 252.84 a ton, as a result of the advance of planting in the US and a new purchase cancellation by China.
Regarding the latter, the USDA confirmed today that the Asian giant canceled an operation for 272,000 tons of US corn, which was added to other suspensions reported on April 24 and 27, for a total of 560,000 tons.
Finally, the price of wheat fell 1.63% (US$ 3.86) and ended the day at US$ 231.67 per ton, due to the good conditions for the development of winter crops in the main producing countries of the European Union and Russia.
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