13/07/2026 22:06 - Economia
The rupture of the ceasefire between the United States and Iran has reignited fears over oil trade and transit through the Strait of Hormuz, a critical maritime chokepoint. This risk premium drove up soybean oil prices in Chicago, dragging the soybean complex along with it. To this external factor, forecasts of intense heat over North American productive regions and a surprising Chinese demand were added, leading international speculative funds to rebuild their portfolios with great optimism.
The bullish jump in international quotes improved local prices in Argentina, a global agricultural powerhouse. However, the Argentine market registered the lowest price fixation level in the last three decades for the oilseed. 'Price fixation' refers to the local mechanism where farmers lock in the price for their harvested crops. Despite the improvement in values, producers are choosing to retain their merchandise, holding out for even better conditions.
While late corn led the volume of sales after reactivating its commercialization, wheat presented a very slow business rhythm, with barely 2 million tons negotiated in the market. This creates a fantastic opportunity for future negotiations as global demand continues to rise.
The conflict between the US and Iran has intensified uncertainty in global markets. According to recent reports, the price of Brent crude oil experienced an increase of nearly 4.21%, reaching $79.21 following new attacks in the Strait of Hormuz. This energy volatility directly impacts production and freight costs, influencing the decisions of agricultural market agents worldwide and paving the way for South American exports to shine.
Alfredo S. Quiroga
