At 10:16 am (Brasilia time) this Wednesday (24), the July soybean contract traded on Chicago Stock Exchange (CBOT) It was operating with an upward bias (0.50 points and +0.04%), quoted at US$ cents 1,117.50/bushel; the August futures contract advanced in the same direction, at US$ cents 1,124.75/bushel. On the previous day (23), the assets rose 0.11% and 0.13%, quoted at US$ cents 1,115.75/bushel and US$ cents 1,122.50/bushel, respectively. In the case of derivatives, the bran It rose 1.03%, while the oil The market was down 0.84%. This morning, the market remained attentive to the behavior of international demand, especially from China. Investors continue to assess the impacts of the first purchases of US soybeans announced after the summit held in May between Presidents Donald Trump and Xi Jinping. Diplomatic negotiations between the US and Iran also remain on the radar. US officials have suggested that currently frozen Iranian assets could be used to finance purchases of US agricultural products. In the field, attention remains focused on the weather in the Corn Belt, the country's main soybean and corn producing region. According to the daily bulletin of… U.S. Department of Agriculture (USDA)The weather conditions remain largely favorable for crop development. As crops enter more advanced stages of the production cycle, soil moisture levels and temperatures remain within patterns considered adequate for plant growth. USDA He highlighted that areas of the Great Lakes region were experiencing isolated showers and thunderstorms early Wednesday morning, while much of the rest of the Midwest had mild weather and satisfactory conditions for the development of summer crops. On the other hand, soybean gains were limited by the continued decline in international oil prices, which reduces the competitiveness of biofuels produced from oilseeds and grains.
This text was translated by machine from Brazilian Portuguese.