News

US grains close of a week of discreet commercial activity and values between stable and bullish

United States
Published Nov 26, 2022

Tridge summary

In the last round of operations of the week in the local market again registered a limited operation, without registering open purchase offers for wheat as it happened in the last two days. On the corn side, the price stability in most of the open positions stood out. On the soybean side, we had a small number of open offers, although open values were higher than those of yesterday's session. Finally, the sunflower market had stable prices, while open purchase offers were made for sorghum that were higher than those of Thursday.

Original content

In the Chicago market, the futures of the main agricultural commodities adjusted with disparate values today. For wheat, there were bearish prices as a result of the dynamism of Ukrainian grain exports, although the drought in the southern hemisphere partially mitigated the losses. Corn presented price increases due to the drought in Argentina, the protests in Brazil, which affect the transportation of grains, and lower estimates of European production. Finally, soybeans had a mixed adjustment, with increases due to oil earnings and the high demand for Brazilian soybeans, although the new wave of COVID-19 in China put negative pressure on the values of the oilseed. The Banco Nación exchange rate was 165.3900 / 165.5900; + 0.23% compared to the previous close. The reference exchange rate of the BCRA Comunicación A3500 closed at 165.5883; + 0.23% compared to the previous day. ROFEX's turnover in dollar futures and options was 638,119 contracts, while open interest accumulates ...
Source: Rural Net
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