At 9:57 am (Brasilia time) this Monday (15), the July soybean contract traded on Chicago Stock Exchange (CBOT) The futures contract was operating at a moderate low of 10.75 points and 0.97%, quoted at US$ cents 1,102.75/bushel; the August contract retreated 10.50 points and 0.94%, to US$ cents 1,108.25/bushel. Regarding derivatives, oil depreciated 2.26%, while soybean meal rose 0.10%. In the last session (12), the contracts closed in negative territory, with a loss of 0.13% for the July contract, at US$ cents 1,113.50/bushel, and 0.16% for the August contract, at US$ cents 1,118.75/bushel. For the week, futures accumulated declines of 0.71% and 0.64%, respectively. This morning, prices were pressured by the sharp drop in oil on the international market, after the United States and Iran confirmed that they intend to sign a peace agreement next Friday (19). The expectation is that the understanding will allow the gradual resumption of maritime traffic through the Strait of Hormuz, reducing risks to the global energy supply. As a result, WTI and Brent oil contracts fell to the US$ 80 per barrel range, reducing the competitiveness of biofuels produced from grains and oilseeds. In addition to the energy scenario, investors continue to monitor weather conditions in the Corn Belt, the main US soybean and corn producing region. According to the National Weather Service (NWS)Flood warnings were issued for areas in southwestern Missouri and some counties in far eastern Kansas. The agency reported that several roads remain closed due to excessive rainfall and runoff from overnight accumulations. Despite the localized problems, the market continues to assess whether the rainfall volumes could have a significant impact on crop development. Attention is also focused on the release of the weekly reports from… U.S. Department of Agriculture (USDA), scheduled for this Monday. Investors are awaiting export inspection data, as well as updates on the development stages and conditions of US crops. Another highlight of the day will be the publication of the monthly report from US National Oilseed Processors Association (NOPA)which will provide new signals about the pace of soybean crushing and domestic demand for the oilseed.
This text was translated by machine from Brazilian Portuguese.