In the same sense, the price corn It rose 5.1% (s $ 9.8) to $ 203.6 a tonne from Wheat It increased 4.7% (st $ 11) to $ 244.3.
The US Department of Agriculture lowered its production estimate in Argentina by 2 million tons from the December measurements to 48 million tons, according to the Monthly Grain Supply and Demand report published Tuesday.
With regard to corn, the decline in expectations was 1.5 million tons to 47.5 million tons, while for wheat it decreased 500 thousand tons to 17.5 million tons.
In all cases, due to cuts dry weather During the past months in large areas of the National Agricultural Area, explained the Rosario Stock Exchange (BCR).
However, The data with the largest impact on the market is consistent with production cuts and inventory adjustments in the United StatesEspecially with regard to soybeans and corn.
In this sense, the US Department of Agriculture “sudden” reduced the estimate of oilseed production by one million tons to 112.5 million tons, which is less than the 113.2 million tons the operators had expected. Which led to higher prices.
Despite this reduction, if production expectations are to happen, you will get a record yield.
Likewise, the agency increased its crushing expectations by 200,000 tons and for exports by 800,000 tons, which led to a revision of stocks from 1 million tons to the 3.8 million tons the size expected by the market.