Strong soybean rise in Chicago for Chinese purchases and key report

The future of soy popped today in the Chicago market 3.4% or $ 10.66 per ton after US Department of Agriculture (Usda) will cut less from what badysts were waiting estimate of oilseed production to USA

In that joined the information that Chinese companies acquired 600,000 tons of American soybeans in the middle of the new distension of the trade war between Washigton and Beijing

In the previous at the opening of the market, moreover, it was knownweekly survey of US oil exports from Usda, according to which commitments abroad increased by 49%, adding 1.17 million tonnes between the last days of the 18/19 campaign and the first days of the 19/20.

So the soybean contracts closest to Chicago were closed at $ u 324.45 tonnes, an improvement of more than 10 dollars against the previous fence.

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FRANCISCO & nbspLLORENS

Improvement soy it's happened just a few days that in the near future marked, Monday, a minimum of operation for the last 30 days when located in $ 312.7 the tone

Regarding the Usda report, changes in estimates of total output exacerbated the benefits, with which soybean futures hit the highs of the day, said Eugenio Irazuegui, of the broker's search area. in Zeni cereals.

The US agency said that with almost all soybean cultivation, yield forecasts will fall to 32.2 quintals per hectare, below 32.6 qq / ha estimated last month.

L & # 39; usda maintained the area estimate for soybean and projected a production total of 98.87 million tonnes.

As for final stocks of the new season, estimated at 17.43 million tonnes (the private sector has forecast 17.96 million tons).