International grain markets recovered their price strongly this Wednesday, after a report from the United States Department of Agriculture (USDA, for its acronym in English) that estimated smaller areas of planting and stocks for soybeans and corn, compared to what is currently
It was a day with a wide intraday range, given the market turn at midday. The Chicago hikes were driven by the publication of official estimates of planted area and stocks stored in the US.
Soybeans ended with a recovery of up to US $ 31 / ton, while corn rebounded about US $ 15.75 / ton, closing at the maximum daily rise limit.
With the planting work completed, the USDA made a slight reduction in its estimate to 35.43 million ha. and scrapped the idea of a larger area than planned at the end of March. Since the implantation progressed smoothly over the course of the month, an estimate closer to 36.00 million ha was evaluated. South Dakota and North Carolina were the states with the steepest cuts, on the order of 3.5%
Another of the variables issued by the USDA was the measurement of stocks on the first day of the month, with 20.87 mill.tn. in the case of soybeans. The count was 2.6% lower than the average anticipated by private companies.
For corn, the estimate was 1.3% below the average calculated by private companies. Officially, 37.51 million hectares were indicated, that is, 480,000 hectares. less than anticipated following a 6.0% cut in the state of Wisconsin. Reductions were also made in Nebraska and Missouri, which are among the most fertile regions in the US In return, the agency increased its estimates in North Dakota, South Dakota, Arkansas, Minnesota and Ohio.
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