The expectations of a sustained world demand and the impulse of the prices in the oil market maintain the firmness in the soybean market. With that as context, a loosening of the premiums at the regional and local level for the oilseed was confirmed.
In the local market, soybeans reached US$ 660 per ton this weekbut that value could not be sustained and it remained in the axis of US$ 650.
March is ending harvest is coming and logistics planning will be a key factor in the coming weeks.
rapeseedmeanwhile, reached new records for the next harvest and was valued at US$ 740 per ton.
Positive pressure remains on the oil market.
The incidence of what happens abroad
On the one hand, the war after Russia’s invasion of Ukraine, which still has no solution in sight, affects the sunflower oil trade and there are risks regarding the planting of the new campaign. Added to this are concerns about canola crops in Canada due to drought and soaring input prices.
Wheat stabilizes at US$300 per ton in Uruguayalthough it still has a very big difference with Chicago, which takes advantage of the next harvest’s barley.
This week there were several showers in US producing regions that generated negative pressure on values, in a market that has reached all-time highs fueled by the war in Europe.
Price references.
Corn in the domestic market
In recent days there has been a very important rise for corn in the domestic market. The reference price on a dry basis, delivered to destination, is around US$315 per ton.
The first-class corns have generally shown regular yields and the harvest is just starting, slowed down by humidity.
Next Thursday, March 31, will be a key date for the market, when the area planted by the United States in 2022 will be known and the stock information will be updated quarterly by the USDA.
The first 2022 area projection for corn, soybeans and wheat will also be given. A slight advance is anticipated for soybeans and a slight setback for corn.
