At today’s wheel in Chicago, agricultural commodities ended the day with a negative balance, showing the high volatility they have sustained since the beginning of this 2022.
For the case of cereals, the lows of yesterday’s wheel deepened today, while for soybeans the positive streak of two consecutive days was cut.
Regarding the arguments the day was built by the offers of the speculative funds, which they took advantage of to make profits and depressed prices. The basis of these sales are the rains expected in Brazil, Argentina and Paraguay for the coming week, which would partially quench the thirst of crops and therefore slow down the deterioration of corn and soybeans.
Going to the numbers, the Soy lost more than 8 dollars in today’s session, where the March prices ended with a price of 506 u$s/tn.
In relation to corn, the day’s decline exceeded $4, leading March contracts to close the day at a price of 231 u$s/tn.
Lastly, wheat continues to suffer from the information in the latest monthly report on global supply and demand for grains from the United States Department of Agriculture (USDA), which took pressure off demand and increased calm on supply.
In this way the wheat in Chicago fell more than 4 dollars in today’s session, adjusting the March price to a value of 274 u$s/tn.
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