The November oilseed contract fell 1.18% (US$ 6.43) to US$ 536.92 a ton, while the January fell 1.17% (US$ 6.43) to settle at US$ 539.03 per ton.
The fundamentals of the fall lay in the taking of profits by the speculative funds after the rises of the previous days and before the rise of 75 basis points in the interest rate by the FED to 3.25%.
“The measure, which can make other alternative financial tools to grains more attractive, also carries the risk of generating a recession in the economy. All this is cause for concern for investors, who choose to put part of what they have earned until now in a safe place.” have greater precision on the impact of the measure,” said grain broker Granar.
Its by-products showed a disparate trend, down 1.10% (US$16.75) to US$1,495.37 per ton, while flour, in the contract with the next expiration date, gained 0.86% (US$4.30) to close at US$501.21 a ton.
For its part, corn lost 0.93% (US$ 2.56) and ended at US$ 269.87 per ton, mainly as a result of the FED rate hike and a drop in ethanol production in the United States. States from 963,000 to 910,000 tons per day.
Lastly, wheat fell 0.86% (US$4.30) and stood at US$501.21 per ton, due to the aggravated situation in the Black Sea area, where the call for referendums to separate from Ukraine to four important regions of that country, important from the agro-export point of view, the call of the Russian government was added to 300,000 reservists, “which revealed the escalation of a conflict that does not offer any chance of resolution,” said Granar .
“The main fear of the market is what would happen if these regions today partially dominated by Russian forces decide to annex Russia and, in that case, the Kremlin declares them part of its territory as justification for a more aggressive defense against those who threaten the ‘new ‘ territorial conformation”, the company’s analysts concluded.