The price of wheat rebounds after confirming a fall in the stock in the United States

Published 2021년 9월 30일

Tridge summary

The international wheat market has seen a price increase due to a decrease in North American wheat stocks, the lowest since 2002, as reported by the USDA, causing a drop in soybeans prices. Argentine exporters have taken advantage of this situation, buying 6.97 million tons of wheat, a 39% increase from the previous year. In contrast, soybean projections exceeded expected stocks, leading to lower prices. The Buenos Aires Cereal Exchange projected an area of 16.7 million hectares for the 2021/2022 campaign, with an expected harvest of 44 million tons.

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Original content

The international price of wheat registered a rise based on bullish data from the international market, while soybeans suffered a collapse after an increase in North American stocks of the oilseed was known. This situation occurs in a favorable context for cultivation in Argentina, both in terms of production and volume of commercial operations. Exporters took note of this situation and pressed the accelerator when it came to getting raw material. According to the Ministry of Agriculture, the industry bought 6.97 million tons until September 22, 39% more in relation to the same period in 2020. The latest report from the United States Department of Agriculture (USDA) strengthened the wheat business and led to declines in soybeans. The agency projected that the North American stocks of the cereal are the lowest since 2002, while for the oilseed the estimates were above expectations, a situation that generated falls on the Chicago slates. In the pre-report, business operators ...

Source: Baenegocios