Argentina: Local grain market with bullish soybean prices
Soybean
Argentina
Published Nov 29, 2022
Original content
In the case of wheat, the market was once again vacant in terms of open purchase offers. On the other hand, for available corn, US$ 235/t was openly offered, with the position in March 2023 once again being US$ 245/t. Finally, for soybeans with immediate unloading and for fixings, the purchase proposals by the industries adjusted with profits, reaching $85,000/t. Today, the futures in Chicago closed the wheel with mixed balance. The good pace of grain exports in the Black Sea region weakened wheat and led it to end posting losses on all its futures. For its part, corn ended in mixed terrain, adjusting increases in its closest contract supported by dry conditions in the productive areas of Brazil, while the closing of positions by operators pushed down contracts furthest away from the cereal. Lastly, climatic conditions that were not beneficial for the development of crops in Brazil had a greater impact on soybeans, which closed the day with a positive sign. In the Matba - ROFEX ...
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