Soybeans and corn increase in Chicago and raise local prices

US corn and soybean crops present notable delays, compared to previous years, today United States Department of Agriculture (USDA) in your weekly report on the evolution of cultures.

This delay, which had an impact on the decrease in supply, had an effect on prices, both in Chicago and for securities listed on the Rosario Stock Exchange.

So,soybeans rose 3.17% in Chicago and returned to its level of a month ago, at $ 314.53 US per tonne. Soybeans rose by nearly $ 10, (9.65), still far from the record increase of $ 25 recorded in intraday, but also taking a distance from the minimum of 12 years in which it was necessary to quote recently.

Corn, on the other hand, finished at the highest values ​​in 23 months"Although" expectations for the corn zone are not consolidated, the rains do not give a break in the US Midwest, "warned a report of the broker Zeni. Corn climbed 3.96%. It closed at 165.45, or $ 6.30 more than yesterday.

Movements in Chicago were reflected in the Rosario Stock Exchange, which had an intense day.

The value offered by soybean with immediate and contractual delivery has been placed in $ 10,400 per tonne factory state ($ 300 per ton more than the wheel of yesterday). For its part, the price offered for the new season's goods reached US $ 245 per tonne for the May 2020 position.

In this round, the value proposed by corn with delivery until the 31st of this month was $ 7,000 per tonne. In the futures (futures) segment, prices were $ 150 per tonne for July; $ 145 in August / September and, for the month of October, the value was $ 150 per tonne.

The USDA report shows that the impact of the climatic factor on soybean seeding is important. "To date, the growth of US corn planting is 58% on the cultivated area, against 90% on average these last five years for these dates and 32% of the cereal is in the emergency phase he said .

In addition, soybean sowing is also lagging, still due to bad weather in the productive areas, reaching only 29% of total intent, below 74% last year and 66% in 2003. average last five years.

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