Soybeans rose again in the Chicago market thanks to strong domestic demand for the grain in the United States, while cereals ended the session down due to the good conditions in which the crops are in that country.
The July contract for the oilseed rose 0.90% (US $ 5.14) to US $ 574.17 per ton, while the August contract rose 1.03% (US $ 5.70) to conclude the day at US $ 557.13 per ton.
The fundamentals of the rise lay in the good projections on domestic demand in the United States by processors.
Likewise, “the level of soy imports to the European Union remained in good volumes and unchanged from last year, which supports prices,” indicated the Rosario Stock Exchange (BCR).
Another factor that drove the price of beans up was the sharp rise in oil, which reached 4.43% (US $ 65.92) to US $ 1,551.59 per ton, while flour fell 1.17 % (US $ 5.18) to end the day at US $ 434.30 per ton.
For its part, corn fell 1.99% (US $ 5.41) and closed at US $ 265.74 per ton, as a consequence of the good conditions in which the crop is found in the United States.
Lastly, wheat yielded 0.86% (US $ 2.20) to US $ 252.81 per ton, as a result of the good state of crops in North America.
Source: Telam
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