The prices of soy continue to operate in negative territory this Wednesday (24) at the CBOT, taking profits, but with more modest losses. Oilseed futures, around 1:50 pm (Brasília time), lost between 0.50 and 1.25 points, with August quoted at US$ 11.19 and November, US$ 10.75 per bushel.
“Futures are testing both sides of the table in Chicago, with the market divided between the fundamentals of soybeans and political issues in the US, where the relationship with China and its demand return to the central focus,” reported the Pátria Agronegócios team.
The market remains focused on a combination of political and fundamental factors, most of which reflect conditions in the United States. The presidential race and the development of the 2024/25 crop have proven to be the main drivers for grain futures at this time, especially soybean futures. And traders continue to monitor both scenarios very closely.
Improved demand for US soybeans is also in focus. Brazilian soybeans have been aligning with US oilseed prices, which also provides additional support for prices on the CBOT.
Source: Carla Mendes | Notícias Agrícolas
