After another loss in Chicago, the price of soy decreased in the local market

After another loss in Chicago, the price of soy decreased in the local market

The offer of the factories fell from 7300 to 7100 pesos for the Great Rosary Source: EFE – Credit: Archive
After another disappointing weekly report on US exports, the price of soybeans fell yesterday for the second consecutive round on the Chicago Stock Exchange, where traders believe that the commercial tension with China is slowing the pace of external sales of the oilseed.

At the close of business, the slates reflected reductions of US $ 1.75 and 1.65 on July and August soybean contracts, whose adjustments were of 365.60 and of 366.98 dollars.
In its weekly report, the United States Department of Agriculture released external sales of soybeans 2017/2018 by 281,900 tons, 20.4% less than the 354,300 tons of the previous report, and 48% below the average of the four preceding weeks. The official data was also lower than the range expected by the market, between 300,000 and 600,000 tons. As for the anticipated businesses of the 2018/2019 harvest, the agency confirmed sales by 224,700 tons, compared to 278,300 tons last week and a range of 100,000 to 400,000 tons calculated by the operators.

The expectation of the operators is set in the new round of negotiations that began yesterday between officials of the United States and China. What emerges there will mark how close or how far away the market is from the dreaded 25 percent tariff that China threatened to tax US soybean imports against the important series of Chinese products that were tariffed by the Donald Trump administration.

In the local market, the open supply of the factories per ton of soybeans for the Gran Rosario area fell from 7300 to 7100 pesos per ton. In specific operations, for large lots and according to the quality of the merchandise, the range of proposals could be expanded to 7200/7300 pesos per ton.
“During the wheel they were valued between 30,000 and 40,000 tons, in a market that is still waiting for the quality with which the trucks are arriving, from the scarce supply that concentrates the factories and, now, with the workers’ strike of the oil industry, “he explained to THE NATION a source of the commercial sector.

On the last point, the protest action of the Federation of Workers of the Oilseed Industrial Complex, Cotton Ginning and Allied of the Argentine Republic, which began yesterday, at 18, and which is for an indefinite period, is related to the dismissals of workers in the multinational Cargill.

In the Buenos Aires Term Market (Matba), the May and July soybean positions fell by US $ 5.50 and 6, while their adjustments were of 314 and of US $ 319.
About the local wheat market, yesterday the exporters paid 6150 pesos per ton available for the Gran Rosario area, $ 150 more than in the previous day. For Bahía Blanca and Necochea, buyers again offered 260 and 250 dollars per ton, respectively.

The Grain Exchange of Buenos Aires informed that the mills paid between 5900 and 6700 pesos per ton of wheat, according to quality, origin and payment method.
In the Matba, the July and January wheat positions added US $ 1 and 4, while their adjustments were 254 and 188.50 dollars per ton.
For the wheat of the next harvest, for deliveries between December and January, the supply of export demand ranged from 182 to 185 dollars.
Maize remained stable at $ 4400 for Bahía Blanca and $ 4300 for Gran Rosario.
The BCBA Reduced to 36 mill./t the Argentine harvest In its weekly report on crops, the Buenos Aires Grains Exchange yesterday reduced its forecast of the current soybean crop from 38 to 36 million tons, as a result of the excess moisture that came after the drought that had already caused the greatest impact adverse on the plants. “The national average yield expected for the closing of the campaign will also be affected by shattering of cadres and is expected to end next to 21.5 quintals per hectare, against the 22.2 quintals expected a couple of weeks ago,” he said. the entity. The volume now estimated is 37.4% lower than that of the previous cycle, of 57.5 million, according to the calculations of the entity, which revealed the progress of the collection over 71.1% of the eligible area.

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