Grains marked sharp falls in their prices at the beginning of the week in the Chicago market, in which the drop of more than US$ 12 in the price of soybeans stood out.
Grains marked sharp falls in their prices at the beginning of the week in the Chicago market, in which the drop of more than US$ 12 in the price of soybeans stood out.
Thus, the May contract for the oilseed fell 2% (US$12.58) to US$615.09 a ton, while the July position fell 2.34% (US$14.51) and closed at US$604. .53 the ton.
The foundations of the declines were rooted in the strong fall of the oil quotes and in the withdrawal of profits by investment funds, specified the Granar brokerage.
In this sense, the price of soybean oil fell 7.25% (US$ 142.64) to US$ 1,823.19 per ton, while soybean meal advanced 0.54% (US$ 2.65). in its closest contract to US$ 488.20 a ton and fell back in the rest of the positions.
“Contributing to the drop in oil were the statements by Indian officials that the country has enough stocks of vegetable oils not to panic after Indonesia’s decision to ban its palm oil exports,” said a report by the consultancy Seed.
For its part, the price of corn fell 0.64% (US$ 2.07) and closed at US$ 320.06 a ton, in the midst of “a liquidation of contracts by investors, who await with interest the steps that the Federal Reserve of the United States takes this week, with a possible rise in interest rates that could drag funds towards financial tools”.
Lastly, wheat fell slightly 0.02% ($0.09) to $383.42 a ton, as a result of rain forecasts over the winter wheat producing areas of the Great Plains of the United States that could help improve the condition of crops from the current very poor state.
However, the most distant positions ended with rises in their prices.
–
