The July soybean contract traded on Chicago Stock Exchange (CBOT) closed this Wednesday (17) with a slight increase of 2.00 points and 0.18%, quoted at US$ cents 1,132.00/bushel; the August contract rose 2.25 points and 0.20%, to US$ cents 1,136.75/bushel. Regarding derivatives, the bran It closed in stability, while the oil Soybean prices fell 1.89%. In this trading session, prices were supported by strong international demand. The United States Department of Agriculture (USDA) reported an individual sale of 372,000 tons of soybeans to unknown destinations, of which 60,000 tons were scheduled for delivery in the 2025/26 marketing year, and 312,000 tons for the 2026/27 marketing year. In addition to demand, prices were also supported by rumors that China is expected to increase its purchases of US agricultural products. Washington and Beijing signed a trade agreement in the middle of the year, but so far no major commercial transactions have taken place. The stabilization of crude oil below US$80 a barrel also favored the assets, whose co-product, soybean oil, is widely used in the production of biofuels. Regarding the weather in the Corn Belt region, which encompasses soybean and corn crops in the US, the USDA’s daily bulletin reported that stormy weather is causing delays in fieldwork but maintaining abundant moisture reserves, reaching locally excessive levels, for the rapid development of corn and soybeans. “Earlier in the day, some of the heaviest rainfall—accompanied by isolated severe weather conditions, including strong winds—is falling over the central corn-producing region,” the document stated.
This text was translated by machine from Brazilian Portuguese.