Soybeans, meal and oil are becoming more expensive because of the drought in Argentina

2018-01-25 12:09:07
Machine translation
Soybeans, meal and oil are becoming more expensive because of the drought in Argentina

weather Forecast for Argentina for the next 10 days shows that 80% of crops of soybeans and corn will lack moisture, which causes the traders concerns about the next harvest.

 

In the North are heavy and moderate rains, but in the center of the "soy belt" will continue shortage of moisture.

 

March soybean futures in Chicago rose 0.4% to 365 $/t and exceeded the 100-day average rates. Quotes are rising 8th day in a row that was last observed in June 2017.

 

the Price of soybean meal also rose 0.4% to 342 $/t under the influence of a possible poor harvest of soybeans in Argentina, which is the main supplier of soybean meal to global markets.

 

quotation of soybean oil rose to 723 $/t after the price of palm oil and oil has risen in price above 71 $/barrel for Brent.