Renewed demand, logistic hurdles renew demand
Price premiums over Chicago futures for soybean shipments from Brazilian ports jumped in recent days on renewed demand, likely from Chinese buyers, and logistic hurdles in Brazil that have reduced grain availability at the ports, reportsSuccessful Farming.
According to local brokers and analysts, there has been unexpectedly high demand for Brazilian beans in a period when most of the crop has been already sold, possibly due to the trade spat between the United States and China.
Brazilian producers and grain merchants are also pushing for higher values for soy and corn due to a possible rise in transportation costs.
Read the full reporthere.
US Corn Price Idx:ZCPAUS.CM
open: 7.6851
high: 7.7708
low: 7.6601
close: 7.7517
US Soybean Price Idx:ZSPAUS.CM
open: 16.1862
high: 16.2065
low: 15.9449
close: 15.9841
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 10.1219
high: 10.2002
low: 9.9409
close: 9.954
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 9.3251
high: 9.4576
low: 9.1464
close: 9.1849
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