Soybeans are trading slightly higher on the CBOT this Thursday morning.

At 9:30 am (Brasilia time) this Thursday (2), the May soybean contract traded on Chicago Stock Exchange (CBOT) The futures contract was trading slightly higher, up 1.75 points and 0.15%, quoted at US$ cents 1,170.25/bushel, with a gain of 0.97% for the week so far. The July contract advanced 1.50 points and 0.13%, to US$ cents 1,186.00/bushel – a weekly advance of 0.11%. On the previous day (1st), the futures they closed in low, with a decrease of 0.21% compared to May, to US$ cents 1,168.50/bushel, and a decrease of 0.13% compared to July, to US$ cents 1,184.50/bushel. Regarding the derivativesOil was up 1.76%, while the bran It was down 0.79%.

Geopolitics reinforces support for prices.

This morning, prices were boosted by the appreciation of the oil derivative, driven by the new surge in oil prices on the international market. Statements by US President Donald Trump, indicating that the country may intensify attacks against Iran in the coming weeks, raised fears of a prolonged conflict in the region. The appreciation of oil tends to favor biofuels, increasing demand for vegetable oils and consequently supporting soybean prices.

USDA report enters the radar.

On the demand side, investors are awaiting the release of the weekly export sales report. United States Department of Agriculture (USDA)which may bring new drivers to the market in the short term.

This text was translated by machine from Brazilian Portuguese.