Chicago grain market: soybeans fell and corn was slaughtered

Soy fell on the Chicago market more than 3.5 dollars in anticipation of increased acreage with oilseeds, maize increased again for the seventh consecutive year and was positioned at peak prices over a year earlier.

The contract for oilseeds in July decreased 1.17% ($ 3.58) to $ 302.03 per tonne, while the contract in August decreased by 1.16% (3%). USD 58). and closed at $ 304.51 per ton. Although he had a good part of the session with a positive sign because of planting delays in the United States, the possibility that Donald Trump's administration increase producer subsidies motivated the decline in its price.

The change in trend came after the Trump administration had considered "making payments of 73.5 USD per ton as part of a package up to 20 billion USD. . to make up for farmers' losses Americans for the trade war with China, "according to daily reviews of the Rosario Stock Exchange (BCR) on Chicago.

"Oilseed contracts have reacted negatively to the news because of the concern that producers are allocating more acreage to this crop, which would be added to existing large stocks," the stock market said.

His by-products accompanied the bottom of the bean, with a shrinkage of the flour of 0.68% (US $ 2.2) up to US $ 3,325.5 per tonne, against US $ 1.30 (US $ 7.94) to end the day at US $ 598.32 per tonne.

For its part, corn gained 1.15% (1.77 USD) and stood at $ 155.21 per tonbecause rainy weather and excess water throughout the United States Corn Belt hindered the progress of planting.

Finally, wheat fell 0.47% (0.83 USD) and was positioned at 175.91 dollars per ton, following profit taking and technical sales by investment funds, after spending a good part of the day on a positive ground because climate problems complicate winter wheat harvesting and planting of varieties of spring.