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Chicago: soybeans increases even through new sales

The price of soybeans next to Chicago followed up a second session, rising after the announcement of a new sale of the oilseeds for us. The wheat has also incre

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Chicago: soybeans increases even through new sales

The price of soybeans next to Chicago followed up a second session, rising after the announcement of a new sale of the oilseeds for us. The wheat has also increased, and the corn remained stable.

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For the second day in a row, the u.s. department of Agriculture has reported the purchase of u.s. soy in his system, identifying the export the private day-to-day. 186.000 tonnes of soybeans were sold to unknown destinations. On Tuesday, the USDA had confirmed the purchase of 132.000 tons of the oilseed by China. These ads are particularly important, because Beijing has threatened to suspend its purchases of us agricultural products, according to several press information. "The situation between the United States and China remain tense on the subject of Hong Kong", note Bryant Sanderson CHS Hedding. "This is the reason for which one should see a chinese shopping before the United States put in place sanctions or tariffs additional," adds the expert. The wheat, for his part, rebounded after a sharp drop the day before.

prices still under pressure

The price of the cereal, however, remain under pressure due to forecasts of heavy rain in the producing regions of Europe and the anticipation of an abundant harvest. The corn has barely budged in a quiet market. Ethanol production has increased for the fourth week in a row, amounting to 765,000 barrels per day to 29 may, according to a report released Wednesday by the u.s. Agency information on Energy (EIA). The reserves have declined, regaining their level of the beginning of the year. The data on ethanol impact the price of corn, of which a significant part of the production in the United States in the composition of the bio-fuel.

bushel of corn (about 25 kg) for delivery in July, the most traded, ended Wednesday at 3,2400 dollars against 3,2425 dollars Tuesday (-0,08%). A bushel of wheat for delivery in July, the most active, finished at 5,1200 dollars against 5,0800 dollars at the previous close (+0,84%). A bushel of soybeans for delivery in July, the most traded, finished 8,5750 dollars against 8,5050 dollars the day before (+0,88%).

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