The May soybean contract in Chicago Board of Trade (CBOT) The futures contract closed this Thursday (16) with a slight decrease of 3.25 points and 0.28%, quoted at US$ 1,163.75/bushel; the July contract fell 2.75 points and 0.22%, to US$ 1,180.50/bushel. In the partial week, the assets accumulate losses of 1.02% and 0.90%, in that order. Regarding derivatives, the bran fell 0.51%, while the oil Prices jumped 2.56%. In this trading session, prices were pressured by new weather updates in the Corn Belt producing region of the United States. According to the report from Drought Monitorof Department of Agriculture (USDA), drought-stricken soybean crops were recorded in 29% of the total area, a decrease of 2 percentage points compared to the previous week (31%), but still above the annual comparison (23%). Meanwhile, the climate bulletin from USDA It was reported that the rains and storms affecting fieldwork in the Corn Belt, an area encompassing soybean and corn crops in the U.S., are shifting toward the Mississippi River. The latest survey by USDAData, as of April 12th, indicated that 6% of the area intended for soybean planting had been sown. Regarding global demand, US exporters exported 248,000 tons of soybeans in the week ending April 9th, in line with market projections of between 200,000 and 600,000 tons. The market is also monitoring geopolitical developments in the Middle East, with an indirect impact on grains via oil and biofuels. Energy prices are rising sharply, supported by uncertainties about the normalization of global energy flows.
This text was translated by machine from Brazilian Portuguese.