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Soybeans operate slightly lower in the last session of the week

Posted by Rafael Moro

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At 8:04 am (Brasília time) this Friday (25), the May contract of Soy on the Chicago Stock Exchange (CBOT) it had a slight drop of 7.75 points and 0.46%, traded at US$ 1,693.00/bushel cents, and was heading for a weekly appreciation of 1.53%.

The one for July was down 8.25 points and 0.49%, quoted at US$ 1,674.00/bushel, with an advance of 1.76%. Yesterday (24), the oilseed spot retreated 1.05%, with pressure from technical profit-taking movements and the record of export sales from the United States Department of Agriculture (USDA) - with data for the week closed on March 17th.

According to the survey, cancellations exceeded sales by 13 thousand tons in the 2022/23 harvest. Sales for the 2021/22 crop totaled 412,000 t, a volume 67.1% below that sold in the previous week, but 232.2% higher than the weekly average stipulated to reach the estimated total.

This morning, the market reflected the advance of the harvest in Brazil, the forecast of rains for the southern region of South America and the devaluation in the wheat and corn markets.Information on the behavior of the global financial market, the war in Ukraine and international demand is on the market's radar.

This text was translated by machine from Brazilian Portuguese.