Coarse grains rise in price in the last week
Local market showed a good number of active buyers, with offers on the rise among the main crops. Regarding board prices, coarse grains registered the highest increases, while wheat remained stable.
During the last week in the local cash market, in general terms the commercial activity remained dynamic, with a good number of active participants and with mostly upward trends in the values offered among the main crops. In the maize market, a wide range of open positions was registered both for current crop as well as that of the next commercial cycle. On the wheat side, the market experienced purchase offers mainly for the 2021/22 harvest, a segment on which most of the export sector relied. Regarding SB, although at the beginning of the week there were some specific offers with deferred delivery of the current campaign and the next, the industrial sector is concentrating its interest on nearby deliveries.
As for sorghum and barley, there were no open purchase offers in the Rosario city square, following the trend of what has been happening in recent months. However, according to the official SIO Granos registry, deals were arranged for the greater metropolitan area of Rosario city for a total of 44,702 tons of sorghum between September 9 and 15. Most of the merchandise comes from Entre Ríos (65.16%), Santa Fe (24.02%) and Córdoba (8.80%) provinces. As for barley, 16,991 tons were sold to the region in the same period, with 98.76% of the cereal originating in the province of Buenos Aires.
Regarding the evolution of available prices reported by the Rosario Cereal Arbitration Chamber (CACR), the trend in prices was bullish, in line with the open offers on the local market. Among cereals, the rise in maize stands out, registering a jump in the last week of 6.7 USD/MT, which indicates an increase of 3.4%.
In the case of wheat, the price remained stable, with practically no variations. In turn, if it is compared with the same point of the previous year, the values register even greater increases for both crops. Wheat shows a 17% year-on-year increase (↑ 33.5 USD/MT), while maize registered increases of more than 25% (↑41.1 USD/MT).
For its part, the SB values reported by the Chamber followed the same trend as maize. Since last Friday, the price increased 10 USD/MT, representing a jump of 2.9%. Thus, the oilseed is only 3.3% behind the maximum registered in mid-May of this year (362.03 USD/MT).
In turn, if we compare year-on-year terms, a significant increase of 27% is observed, or in other words, a rise of 74.4 USD/MT compared to the same time of the previous year. In this sense, the rally registered since the middle of last year managed to consolidate, while external demand remains solid, mainly due to the role of China in the import markets.
Source: https://bcr.com.ar/
Photo: REUTERS/Stringer
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