Several quotes after the USDA report


In the afternoon of this Thursday, as in every day in which the updated estimates of the US Department of Agriculture are announced, the site of the Rosary bag He participated in a large number of operators left looking of the news and its impact on prices in the Chicago market. As a reflection, there has been a decline in the level of commercial activity. In addition, the local market had proposals for bearish purchases for contractual soybean and various offers for cereals.

In the market of Chicago, after knowing the estimates of the supply and demand of the USDA, the main grains were adjusted with balances in a volatile session. The future of soy They have closed with slight losses for purchases at the end of the session after prices have collapsed before the publication of the report in which US final stocks have increased. The derivatives of wheat they also fell due to technical sales and the forecast of more global stocks. For its part, the corn ended the session with earnings after the USDA cut its estimate of stocks in the United States, which was almost 1 meter below the average expectation of the operators.


Open purchase offers for soybeans in the local market were located in $ 8.700 / t for contractual delivery, but without excluding possible improvements up to 100 pesos.

The soy futures in Chicago close the day almost unchanged for purchases at the end of the session, after having sold most of the day. The future of oil seeds has collapsed once the monthly supply and demand report of the USDA has been published, which despite having cut its estimates for the American harvest, substantially increased the level of stocks at the end of the campaign. Soybean reserves would reach 26 Mt, exceeding trade expectations of 24.4 Mt and last month's USDA estimates of 24.1 million tonnes. The largest stocks are the product of a lower volume of US soybean exports, among the persistent commercial tensions with China. Estimates regarding the global offer add up pressure on soybean prices, since global stocks of 112 Mt, 2 Mt are expected higher than last month's estimates and 1 Mt above market expectations.


During the day's round, the purchase offer for grain with discharge and with contract delivery was of $ 6,200 / t, without excluding that the business has been done with some room for improvement. The values ​​opened by the grain of the new crop were placed at 175, 178, 182 and 185 dollars per tonne for discharges in December, January, February and March, respectively.

The wheat futures in Chicago conclude the trading day a low by technical sales and in response to larger global stocks estimated by the USDA in its monthly supply and demand report, after upward revision of production data of the last 10 years in China. However, excluding China, global actions in the rest of the world would fall by 1 million tons. Although the Department of Agriculture estimates a level of stocks more appropriate for this campaign in the United States, reducing inventory, the adjustment to the high of world stocks has a bearish effect on cereal futures. On the other hand, the estimate of the use by seed has increased, reiterating that there is a greater intention to sow for wheat in the 2019/20 season.


In the wheel of this Thursday, the price offered for maize with contract delivery was established $ 4,650 / t. In the futures segment, in December, $ 130 / t was offered for unloading, down by $ 4 compared to yesterday, while for the new crop, the values ​​offered were US $ 142 / t for February, US $ 140 / t for March, $ 138 / t for April, $ 136 for May, $ 135 / t for June and $ 133 / t for July.

The maize futures in Chicago have closed the session with earnings after the USDA has cut its estimate of shares in the United States in your monthly supply and demand report. The final stocks would be 44 Mt, 2 Mt below the October forecast and almost 1 Mt below the average expectation of the operators. On a global level, however, the final inventory 2018/19 rose from 159 Mt in October to 307.5 Mt in November. The increase is explained by recent Official review of Chinese government production estimates that added 143 million tonnes to its inventory calculation at the start of the 2018/19 corn season and that the USDA adopted in its latest report.


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