Soybeans traded higher, corn prices dropped

Purchase offers for corn dropped, while soybeans experienced an increase.

The Chicago market closed with increases for corn, falls for wheat, and mixed adjustments for soybeans. According to the Crop Condition report released yesterday by the United States Department of Agriculture, the wheat market turned bearish. Conditions got better than analysts expected.

Corn closed with increases due to strengthening in oil prices, while soybeans adjusted, with decreases in their closest positions due to the pressure by the entry of the South American harvest into export markets.

SOY

The soybean market was the one that stood out today in terms of volumes traded, with businesses focused mainly on short deliveries.

The best open purchase offer for the soybean with immediate delivery improved the US $ 3 to the US $ 208. 

There were no purchase offers for soybeans with delayed deliveries.

SUNFLOWER

There was an improvement of the US $10 in the open purchase offer for sunflowers. There was no purchase offer for sunflowers with delivery in May.

WHEAT

There was an increase in wheat prices for May and June deliveries, offering $190 for each month.

 CORN

Once again, there was a drop in purchase offers for corn, for practically all open trading positions. The price stood at $ 135, which is 2 dollars below Monday. 

June deliveries for corn fell to $130, and August deliveries totaled $123.

On the other hand, there was a drop in purchase values.

Confusing Coronavirus signals drove prices low

Dramatic early-session gains due to signs of coronavirus pandemic improvement were erased during volatile afternoon trading that sent US equity markets lower by closing bells as investors attempted to parse mixed signals on Tuesday.

US gold futures weakened on Tuesday. The April future was down $12.20 to close at $1,664.80 an oz.

The US dollar settled lower on Tuesday as part of a continued wavering during renewed appetites for risk.