With completely volatile prices, the grain market operates week after weekfollowing news of Russia’s invasion of Ukraine and the fallout from the unlikely supply of grain from the Black Sea.
This week the market fell sharply when the possibility of a rapprochement between the two countries arose on Wednesday, which was later not confirmed.
In any case, the price of wheat, which in short-term positions in Chicago reached close to US$500 per ton last week, was above US$400 this week.
During this week the National Expoactiva has been carried out, where the exceptional nature of the agricultural moment is discussed at length.
A very good crop and winter harvest late last year will be followed by a bumper summer crop harvestwhich is already starting in corn and from April 15 will start in soybeans.
While prices remain at exceptional levels, Regarding yields, it can already be said that they will also be very high.. Very few times do good winter and summer harvests coincide and rarely do high prices and high yields come together.
In terms of markets the main novelty of the week was the jump in local corn prices.
With difficulty for imported grain to enter, there is a very high price for corn, which is traded above US$300 per tonfrom quotes that were above US$260 recently, during the past week.
On the one hand, there is interest in setting up a ship for export and, on the other, domestic demand is very firm.
Calmer is the price of wheata product for which one more ship will probably be assembled to export and then it will go on pause for the duration of the soybean harvest, from April 15 to June 15, approximately.
Soybeans and corn in a farm in Dolores.
Whileit is possible to project that Uruguay will achieve an excellent harvest of three million tons of soybeans which will add to a new record of exports from Uruguay in 2022.