The soybean market continues to move sideways on the Chicago Stock Exchange this Wednesday morning (2) and is testing slight gains today. Around 7:20 am (Brasília time), the quotes rose between 2.50 and 5.50 points, with July worth US$ 10.27 and November – the reference for the American harvest – at US$ 10.31 per bushel.
The lack of news for traders has led to more intense fluctuations in soybean futures. Thus, the fundamental scenario continues to maintain stable prices, with the new US crop developing well so far, with adequate weather conditions and no major threats, while demand for North American soybeans is still slow.
However, China remains absent from the US market. It has not made any new purchases, nor has it given any signs that it may do so again. This keeps the pressure on prices.
What brings some balance to the prices are the derivatives. This Wednesday morning, soybean oil prices rose more than 1.3%, with the first maturity worth 54.35 cents per pound. On the other hand, bran fell 0.52% to be worth US$ 286.10 per short ton.
Source: Carla Mendes | Notícias Agrícolas
