31ofMarchof2023at17:03
The Chicago market was marked by the USDA’s quarterly stocks and planting intentions reports. The soybean price was boosted by the prospect of a lower supply.
See quotes
The Rosario Stock Exchange (BCR) in its daily report indicated that soybeans closed this Friday, March 31, with gains of about 2%. Under this scenario, they analyzed that the USDA projections for the 2023 planting and its estimate of stocks for March 1 were located at the lower end of expectations, with fewer hectares and less soybean storage than expected by the market average. .
Wheat was found with more stocks and more planted area published by the USDA, with respect to what was expected in the previous reports. In this way, a scenario of slight gains for wheat around noon turned into slight losses for the bulk of cereal positions.
Corn futures closed on a mixed Thursday, with shorter-term contracts rising on lower-than-expected data on US stocks as of March 1. For their part, deferred contracts closed with losses due to a higher than expected planting forecast by the USDA in its report today. The record harvest in Brazil adds downward pressure to the nearest prices.
Soybean, wheat and corn prices in Rosario
Values reported by Fyo
- Soybeans: The soybean available traded around the 95.000 pesos. In the forward market, the price range up to May’24 traded higher, rising mainly in Jul’23.
- Corn: The availability of corn continued to operate in 250 dollars. The Jul’23 position traded at $225.
- Wheat: Available wheat closed at 280 dollars. The deferred value of Dec’23 was located at 250 dollars.
