Soybeans are up and worth $ 321 a tonne

November 4, 2018 – 01:00
The increase is not accompanied in the same way by by-products such as oil and flour.

Soybeans continued to grow in the Chicago market and the November oilseeds contract rose 0.71% ($ 2.30) to $ 321.60 per tonne, while January's $ 2.11 and was $ 326.19 per tonne.

The losses remained yesterday due to the positive inertia created yesterday when Trump reported on "progress" in trade talks with Xi Jinping to ease tensions in this regard between the two countries and boosted the prices of more than 11 USD.

Yesterday, Trump released findings on his official Twitter account regarding a phone conversation with the Asian giant's chief "with a strong focus on trade." These discussions are going very well with the G-20 meetings in Argentina. "

However, despite the fact that during the day yesterday, he touched a maximum of two weeks, the bean was removed after White House economic adviser Larry Kudlow declared that Trump was no longer in charge. had not "asked his cabinet to write a business plan with China" and said that he was "less optimistic than before compared to a possible deal with the Asian giant", has declared the Rosario Stock Exchange (BCR).

Its by-products did not keep pace with the rise, and prices for oil and flour were low.

In the case of the former, the decline was 0.42% (US $ 2.65), to US $ 621.69 per tonne, while the flour was 0.76% (US $ 2.65) and closed the day at 342.81 USD per ton.

For its part, corn gained 1.22% (US $ 1.77) and stood at 146.15 USD per tonne, while it was expected to lower yields of the US crop .

"The US Department of Agriculture (Usda) is expected to lower its country's crop forecast compared to last month, in its monthly supply and demand report to be released next Thursday," said the BCR.

Finally, wheat increased by 0.14% (US $ 0.28) and the deal was finalized at US $ 186.93 per tonne, when coupled with maize profits and subsistence provided by weekly technical purchases. by investment fund.