Soy falls significantly in Chicago this Thursday with pressure from the uncertainty that still comes from the coronavirus

Posted by Marina

The soybean market retreated considerably on Thursday (26) on the Chicago Stock Exchange, after closing the previous day very close to stability. Prices, around 7:10 am (Brasília time), registered decreases of 6.50 to 9.75 points in the main contracts, with May worth US $ 8.71 and July, US $ 8.75 per bushel.

The countless uncertainties that surround the macroeconomic scenario still maintain pressure on prices in general, giving room only for occasional gains between commodities, stock indexes and other assets. In soybeans, however, there is a slightly larger space for highs - even if somewhat fragile - given the positive fundamentals that this market has at the moment.

"In the very short term, we await some important reports from a fundamental point of view. In a few hours, the American weekly exports report and, on Tuesday, the quarterly planting and stock report in the USA," says Steve Cachia, consultant Cerealpar and AgroCulte. "Another day of work in a scenario of uncertainty like never before seen in our generation", he adds.

In Brazil, soybean prices remain historically high, pointing to maintaining this firmness given its own fundamentals. There is already a high percentage of the current crop marketed and committed to exports, heated domestic demand and a dollar still above R $ 5.00.




Source: Notícias Agrícolas