Sharp drop in soy prices: more than US $ 20 fell in Chicago

Sharp drop in soy prices: more than US $ 20 fell in Chicago

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Sharp drop in soy prices: more than US $ 20 fell in Chicago

The prices of the main grains began the week with general falls in the Chicago market, in a day in which the drop of more than US $ 20 in the price of soybeans stood out.

The oilseed’s September contract fell 4% (US $ 20.03) to US $ 479.41 per ton, while the November position fell 1.51% (US $ 7.35) to settle at US $ 478 , 86 the ton.

The fundamentals of the decline lay in the liquidation of contracts by investment funds in the face of the rains that fall on the east of the US soybean / corn belt, grain brokerage Granar said.

Its by-products accompanied the negative trend, with a decrease in flour of 1.86% (US $ 7.28) to US $ 383.16 per ton, while oil had a retraction of 1.66% (US $ 22.49) to US $ 1,328.92 per ton.

For its part, corn contracted 3.18% (US $ 6.99) and stood at US $ 212.69 per ton, amid the sales made by investment funds.

This behavior was due, in part, to the possibility that the rains registered in recent days improve the prospects for late crops, but also due to the imminent entry of the new harvest and the absence of news from part of the demand Granar explained.

Finally, wheat yielded 1.35% (US $ 3.58) and ended the day at US $ 260.42 per ton, “driven by the considerable losses of corn and soybeans,” the Rosario Stock Exchange considered. (BCR).