With a 1.7% decline, the value of soybeans today added the third day in a row to the Chicago Board of Trade and moved from $ 617.66 to $ 607.28 per ton. To measure the momentum of oil seeds in the US market, it should be noted that out of the eight rounds that took place on Thursday, the end of 9, when the July position remained at $ 650 a tonne adjustment, only 74. The cents were seven negatives from the historical record of September 4, 2012. And despite this unfortunate sequence, the current level of crude grain prices remains in the records as one of the highest.

Among the factors that led to the fall in prices today was once again the downward impact of oil, which fell by 3.7% from 1617.52 to 1557.77 dollars per ton. Since the wheel was on the 9th of this month, when this soybean by-product closed with an adjustment of $ 1821.66 amid an upward trend, the accumulated decline is 14.5 percent.

Larger exports of palm oil from Indonesia, the world’s leading supplier of this variety, led to a drop in its prices in the Malaysian market, which was a benchmark value for vegetable oils, and from there the trend continued in Chicago.Where, in addition, the decline in oil, which affects raw materials used in the production of biofuels such as biodiesel, has completed the negative picture.

Other fundamental factors that have contributed to the decline in international soybean prices are the real devaluation of the dollar, which is pushing Brazilian producers to move away from grain and improving the competitiveness of Brazilian exports.Leading country in soybean sales And uncertainty between operators over Chinese policy of curbing Covid distribution, including drastic measures such as closure of economic activitiesFrom stores to port terminals, actions that could slow down or even reduce their demand for soy.

As for the new US campaign, there are no significant crop conditioning factors at this time. Yesterday, the USDA announced the progress of soybean planting in more than 94% of the planned area and 68% of the crop in good / good condition, less than 70% of the previous week, but in 2021 more than 60% of the same time. yet. There was scattered rain this week in the main production area for a while Forecasts Over the next 6 to 14 days, precipitation predicts a record high and warm weather. If these conditions proposed by climatologists are met for the US Midwest, investment funds can return to prices what is left of the last wheels.

Low and small business

The negative external tone was reflected in the Argentine grain market, where soybean prices were low and producer interest in sales fell to almost zero. “Today the market was crying,” he assured ᲔᲠᲘ The operator was from Rosario and explained that the consistent decline observed since last week had a strong impact, with very low sales volumes.

With instant delivery of a ton of soybeans, mills today offered up to $ 385 for Gran Rosario terminals, down 10 from yesterday. This new offer was equivalent to 47,605 pesos and was lower than the 48,165 pesos calculated by the Rosario Stock Exchange as the theoretical payment volume for the exporting oil industry.

“The factories are well supplied with the planned supply before the harvest, so now they are working calmly and waiting for the change in the expectations of the sellers, who were looking at dubious offers a few days ago. For $ 430, ”the operator added.

As for the soybean stock, which owns the industry, the National Ministry of Agriculture revealed that as of June 1, they had 3,654,836 tonnes, which was 50.2% more than 2,432,909 tonnes as of May 1 and 1.5% more than 3,602,431 tonnes in June. Condition. 2021 year.

For May, the agency said 4,142,523 tonnes, up 5.5% from 3,927,488 tonnes in April but down 3.7% from 4,300,687 tonnes in May last year.

The drop in soybean prices was also reflected in the Matba Rofex, where July and November positions lost $ 8.50 and the session ended with adjustments of $ 398.90 and $ 400.50 per ton.

The same happened in the export market, where the price of soybeans in Argentine ports fell from $ 646 to $ 634 per tonne, oil from $ 1,530 to $ 1,476 and flour from $ 472 to $ 470. Ministry of Agriculture.