Soybeans are trading lower on the CBOT this Thursday morning.

At 9:41 am (Brasilia time) this Thursday (7), the July soybean contract traded on Chicago Stock Exchange (CBOT) The futures contract was operating at a moderate low of 8.00 points and 0.67%, quoted at US$ cents 1,186.75/bushel. The August contract was retreating at the same intensity, at US$ cents 1,181.00/bushel. For the week so far, the assets have accumulated losses of 1.33% and 1.29%, respectively. On the previous day (6), the assets closed the day in negative territory, with a 1.38% drop for the July contract, at US$ cents 1,194.75/bushel, and a 1.33% drop for the August contract, at US$ cents 1,189.00/bushel. In the case of derivatives, the oil Soybean meal fell 1.40%, while soybean meal rose 0.66%. This morning, the market is reacting to the prospect of a possible peace agreement between the United States and Iran, which could alleviate disruptions in the global oil supply caused by the closure of the Strait of Hormuz. The fall in the energy commodity reduces the competitiveness of biofuels produced from grains and oilseeds. In terms of weather, investors are monitoring conditions in the Corn Belt, the main soybean and corn producing region of the US. After a period of intense rains in the Midwest, drier weather has favored the progress of field activities in recent days. According to the report from… Drought MonitorThe atypical cold reduced evapotranspiration rates, while the pause in rainfall helped alleviate delays caused by frequent storms. Despite the operational improvement, the daily bulletin… from the U.S. Department of Agriculture (USDA) It was noted that low temperatures continue to delay the germination of newly planted soybeans and corn. Agents are also awaiting the release of the weekly export sales report. USDAwhich should provide new indicators about the pace of international demand for US soybeans.

This text was translated by machine from Brazilian Portuguese.