Chicago Market closure

On the day, agricultural futures operated in Chicago adjusted with improvements for wheat and decreases for maize and soybeans. The positioning of investment funds motivated a good part of these movements.

Wheat

On Thursday’s wheel, the wheat futures traded in Chicago adjusted with slight gains in their prices. This would have been a consequence of the decrease in the value of the dollar against other currencies. This situation could improve the competitiveness of North American exports in the international market. Furthermore, the closing purchases of open positions by investment funds would have provided support for cereal futures. However, the volume of weekly export sales reported by the United States Department of Agriculture (USDA) remains low, the 351,300 tons recorded were within the range estimated by analysts (250,000 – 600,000 tons).

Maize

In the fourth round of the week, the maize futures traded in Chicago adjusted with reductions in their values. This would have been caused in part by technical sales by mutual funds. In addition, the advance of the harvest in the US would negatively pressure the prices of yellow grain since it represents an improvement in the supply of commerce. However, the losses would have been moderated by the sales reported by the USDA, which reached 2.1 Mt in the last week. This record was well above the maximum estimated by analysts, which was 1.8 Mt.