Wheat retreats, soybeans react and corn loses strength at the beginning of the month

In the case of wheat, contracts in Chicago fell again after the enthusiasm over Chinese purchases dissipated. The confirmation of lower-than-expected volumes removed the momentum that had sustained prices in previous days. With this, the market resumed its focus on fundamentals, marked by ample global supply and advanced harvest in the Southern Hemisphere. FOB prices for Argentine wheat fell by US$ 3/t for December and US$ 1/t for January, following the 0.24% depreciation of the dollar in Brazil. In the physical market, Paraná registered an average of R$ 1,197.67 (-0.24% on the day), while Rio Grande do Sul maintained R$ 1,054.15 per ton. Soybeans, on the other hand, showed a moderate reaction. Futures contracts rose between 3 and 5.25 points in Chicago, with January trading at US$ 11.12 and May at US$ 11.32 per bushel. The commodity remains pressured by geopolitical uncertainties and trade tensions between China and the United States, in addition to the absence of new Chinese ...