The international grain market is experiencing significant declines in soybeans, corn, and wheat, reaching over three-year lows due to large harvests in South America and high production in the northern hemisphere. Concurrently, the cattle market for slaughter is showing firmness, with prices at US$3.40/kg for steer meat and between US$3.10 to US$3.15/kg for cow meat. The export of live calves has also commenced, with prices around US$2.30/kg for light calves.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
The international grain market in its main products (corn, wheat, soybeans) once again had significant declines, setting new lows in more than three years. Chicago's top soybean position fell almost 2%. The July position (reference for the harvest in Uruguay) was at 435 US$/ton, which translates into grain prices placed in Nueva Palmira around 380 US$/ton. Corn fell 2.6% in Chicago and wheat marked a sharp decline of more than 5%. The large harvests in South America in soybeans and corn, and the production of wheat in the northern hemisphere (which would continue at high levels in the new harvest) put continuous pressure on prices, which mark a new scenario and reduce margins. Meanwhile, the crops are better than last year (not much is needed) but they do not show the vigor that was expected in a Niño year, in the case of soybeans. Sowing was not easy in several areas (reseeding, abundant stubble) and the arrival of a strong heat wave, early in the cycle, reduced yield potential. ...
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