Soybeans are on the rise again, trading above $ 520 per tonne and already worth nearly $ 200 more than a year ago

Even today, international soybean, corn and wheat prices had a positive day in the Chicago benchmark market.

Soybean values, which hit their highest level in the past 5 weeks, rose 1.1% and traded at $ 523.20 per tonne. In one year, the external price of oilseeds increased by 195.94 USD. On the maize side, prices increased $ 2.20 to settle at $ 220.21 per tonne and wheat rose $ 4 and traded at $ 248.70 per tonne.

In the case of soybeans, the delay in the harvest in Brazil is one of the factors driving down prices, but there is also an impact of reduced supplies due to increasing demand, rising crude oil prices. and a decline in the strength of the dollar.

Soybean values, which hit their highest level in the past 5 weeks, rose 1.1% and traded at $ 523.20 per tonne

As FyO specialists at Infobae commented, when it comes to external wheat prices, there is an effect due to concern about climate risks in the US and Russia due to the cold. And in the case of corn, the general market trend has been boosted.

On another side, at the Rosario exchange for soybeans with delivery until March 15 and for fixings the value was $ 330 per tonne. For open delivery soybeans, the price offered was $ 330 per tonne and for immediate offloading, the price was $ 200 per tonne.

In addition, for corn with delivery in March, the price was $ 203 per tonne and in the April and May range, the price was $ 205 per tonne. Finally, for wheat with contract delivery, supply reached $ 210 per tonne and position in April at $ 215 per tonne.

In the daily report published by the BCR, it reflected that today wheat, the presence of a smaller number of active buyers was observed, although it was possible to maintain hedging of open buy positions. On the corn side, there was good dynamism in doing business, although there were some drops in the values ​​offered for short deliveries. And in the soybean market, offerings have been focused on short slices with improvement in the April segment of the next commercial year 2020/21.

Investigation

The Austral University Agri-Food and Food Center survey, which was presented today, indicated that unfavorable weather conditions in recent months have affected the summer crops. In this sense, about two thirds of producers observe an unfavorable impact of the climate and 77% of respondents indicated that yields would reach the average of the last seasons.

However, The improvement in international prices, which has an impact on the local market, has allowed producers to maintain their trading results despite the adverse weather conditions, especially due to the lack of rainfall. In this sense, nearly 80% of the 406 producers questioned project average results.

Finally, the survey showed that so far the percentage of coarse harvest that already has a fixed price is very low. About 70% of producers said they had not yet set any type of price for soybeans and 66% for corn production.

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