As of this Monday at 5 pm, Russia terminates the safe exit agreement from grains and fertilizers from the Black Sea, which during its term allowed the departure of 33 million tons of food, the foregoing means that the safety of the navigation of ships and the humanitarian corridor is left without guarantee. Yet despite that, markets fell.
Samuel Sarmiento, economist, futures adviser to the Chicago Stock Exchangeagricultural policies and agribusiness, announced that in this scenario, this Monday, the corn futures as of September 2023 they lost 2.9 dollars to settle at 196.5 dollars, which means a reference price of $4,323 per ton of corn (considering the BASE of 61 dollars proposed by Segalmex), while corn futures for July 2024 fell 3.1 dollars to settle at 207.7 dollars.
On the other hand, the wheat futures as of september 2023 lost 2.8 dollars to settle at 240.21 dollars, which means a reference price of $4,586 per ton of durum wheat and $4,620 per ton of bread wheat (considering the BASES of 33 and 35 dollars proposed by Segalmex for Sinaloa).
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