The May soybean contract traded on Chicago Stock Exchange (CBOT) The futures contract closed this Friday (24) with a slight increase of 4.00 points and 0.34%, quoted at US$ cents 1,163.75/bushel; the July contract advanced 3.75 points and 0.32%, to US$ cents 1,178.50/bushel. However, both assets accumulated losses in the week, in the order of 0.30% and 0.38%, respectively. As for derivatives, the oil and the bran Prices rose 0.35% and 1.15%, respectively. In this trading session, prices benefited from concerns about weather conditions in the Corn Belt region, an area encompassing soybean and corn production in the United States. Forecasts indicate the arrival of rain in the central region of the country, which could delay soybean and corn planting. Furthermore, data from the Drought Monitor shows the drought advancing in significant areas, with Nebraska having over 88% of its territory affected and South Dakota with over 52% of its area experiencing drought. The US National Weather Service also pointed to a high risk of wildfires in states such as Minnesota, Iowa, and South Dakota due to low humidity. The dynamics of international oil also influenced prices, amidst uncertainties in the Middle East and the blockade of the Strait of Hormuz. Prices fluctuated throughout the day, reflecting the balance between risks of supply disruption and expectations of resuming negotiations between the US and Iran. The market remains attentive to oil, as its appreciation tends to increase the competitiveness of biofuels produced from grains and oilseeds. For Monday (27), the U.S. Department of Agriculture (USDA) It will release weekly shipment figures, as well as updates on the conditions and stages of North American crops.
This text was translated by machine from Brazilian Portuguese.