Global Courant
The fundamentals of the rise lay in the increase in agricultural areas under drought conditions in the United States.
Soybeans chained their fourth consecutive rise in the Chicago market and closed the week with a positive sign, while cereals ended the day unevenly, in a session where the world supply and demand report for grains from the United States Department of Agriculture The United States had almost no influence on the prices.
The July contract for the oilseed rose 1.70% (US$8.54) to US$509.45 a ton, while the August contract rose 1.30% (US$6.15). to conclude the day at US$ 476.20 a ton.
The fundamentals of the rise lay in the increase in agricultural areas under drought conditions and the lack of relief expressed by the latest forecasts, especially for the center and east of the US soybean/corn belt, grain broker Granar said.
Another bullish factor was the appreciation of the real against the dollar, which makes Brazilian exports less competitive and removes sales incentives from producers in that country.
Although the monthly USDA report was published today, the data provided by the US agency did not influence prices, the specialists said.
The oil accompanied the bean, with a rise of 3.98% (US$ 46.08) to US$ 1,203.48 per ton, while flour fell 1.68% (US$ 7.50) and was located at US$ 437.83 a ton.
Corn, meanwhile, fell 0.98% (US$ 2.36) and settled at US$ 237.88 a ton, as a result of “seasonal pressure due to the start of the safrinha harvest in Brazil, the the world’s leading exporter of cereal, which is preparing to lift close to 100 million tons of coarse grain at this time, which is the most important moment of its agricultural cycle, which consists of three harvests,” they said in Granar.
Lastly, wheat advanced 0.63% (US$1.47) and settled at US$231.58 a ton, due to the pressure exerted by the harvest in the United States and in the Northern Hemisphere.
Fourth consecutive rise for soybeans in Chicago
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