The price of soybeans rose in Chicago, while wheat and corn fell

The value of the oilseed was boosted by a cut in the production forecast for the crop in Brazil.

The price of soybeans rose in the Chicago market, driven by a cut in the projection of production of the oilseed in Brazil, while corn marked drops due to the rains registered in producing areas of Argentina.

Wheat, for its part, fell 0.55% (US$1.56) to US$281.09 a ton, due to the dynamism shown by the sale of Russian cereal and the low level of cereal exports from the US.

The March soybean contract rose 0.04% (US$0.28) to US$560.89 a ton, while the May position advanced 0.11% (US$0.64) to settle in US $558.96 a ton.

The fundamentals of the rise lay in a new cut in the production estimate for Brazil by a consultant due to the drought in the south of the country.

In this way, private companies expect a threshing of 150.9 million tons, which implied a drop of two million tons compared to the previous estimate.

The rains in Argentina and the low level of weekly exports from the United States limited the increases.

Its by-products followed the upward trend, with an improvement in oil of 1.07% (US$14.55) to US$1,364.64 per ton, while flour advanced 0.06% (US$0.33 ) and settled at US$ 541.67 a ton.

For its part, corn fell 0.03% (US$0.10) and closed at US$266.13 a ton, due to the rains in Argentina and southern Brazil.