The prices of agricultural products recovered this Friday (11) in Chicago, supported by the still dry weather conditions in South America and the announcement of sales for export.
“The market looks at the weather in South America, when dry conditions are expected in the next ten days in Argentina”, where corn and soybeans are produced, explained Dewey Strickler, from Ag Watch Market Advisors.
But, according to the expert, the soybean harvest, which begins soon in Brazil, will put climate considerations in second place.
For now, operators are still uneasy about the drought, which has driven up oilseed prices for months, said Strickler.
The Department of Agriculture, in turn, announced the sale for export of 108,000 tonnes of soybeans to China, as well as 128,000 tonnes of corn to Japan and 30,000 tonnes of soybean oil to other countries.
A bushel of wheat (27 kg) for March delivery rose 3.40% to $7.9775 from $7.7150 on Thursday.
The bushel of corn (approximately 25 kg), for delivery in the month, rose 1.44% to $6.5100 against $6.4175 at the previous close.
A bushel of soybeans (about 27 kg), also for March delivery, rose 0.55% to $15.8300 from $15.7425 a day earlier.
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