At 9:40 am (Brasilia time) this Thursday (21) the July soybean contract traded on Chicago Stock Exchange (CBOT) The July futures contract showed stability with an upward bias (+0.08%), quoted at US$ cents 1,200.75/bushel. The August contract advanced at the same intensity, at US$ cents 1,200.25/bushel. For the week so far, both assets have accumulated gains of 2.02%. On the previous day (20), the assets closed in negative territory, with a drop of 0.81% for the July contract, at US$ cents 1,199.75/bushel, and 0.87% for the August contract, at US$ cents 1,199.25/bushel. This morning, prices were supported by the appreciation of oil in the international market, given the impasse in diplomatic negotiations between the United States and Iran. This scenario keeps the Strait of Hormuz partially paralyzed and raises concerns about the global energy supply. The rise in oil prices tends to favor the competitiveness of biofuels produced from grains and oilseeds, such as soybean biodiesel. On the demand side, the U.S. Department of Agriculture (USDA) It was reported that net sales of soybeans from the 2025/26 crop totaled 514,000 tons in the week ending May 14. This volume was above the 183,000 tons recorded the previous week and 62% higher than the average of the last four weeks. Investors are also monitoring weather conditions in the Corn Belt, the main soybean and corn producing region of the US. According to the National Weather Service (NWS), frost warnings have been issued for parts of northern Wisconsin and counties in northern Michigan. In addition, the agency forecasts minor flooding until Friday morning (May 22) in regions of northern and central Missouri. On the radar, the market is monitoring the progress of the harvest in South America. In Brazil, work is entering its final phase, while in Argentina the harvest has already exceeded 50% of the area. Later, the International Grains Council (IGC) will release its monthly report with updates to global grain production projections for the 2025/26 and 2026/27 seasons.
This text was translated by machine from Brazilian Portuguese.