The May soybean contract in Chicago Board of Trade (CBOT) closed this Monday (13) with a sharp drop of 13.50 points and 1.15%, quoted at US$ 1,162.25/bushel; the July contract fell with the same intensity, to US$ 1,177.50/bushel. Regarding derivatives, the oil It fell 0.88%, while the bran It closed with an upward bias (+0.03%).
South American supply weighs on the market.
In this trading session, prices were pressured by profit-taking, given the gains of the last week, as well as by the progress of the harvest in South America, which reinforces the prospect of ample global availability of soybeans. In Brazil, the harvest of the 2025/26 crop has already exceeded 80% of the cultivated area, slightly above the average of the last five years. DATAGRO Grains It projects a record harvest of 182.5 million tons. In Argentina, the Buenos Aires Grain Exchange (BCBA) It was reported that the harvest began last week, reaching 2.4% of the planted area, with an estimated production of 48.5 million tons.
Middle East adds volatility
The market also continued to monitor developments in the Middle East conflict following the failure of negotiations between the United States and Iran. The US government’s decision to block maritime traffic linked to Iran in the Strait of Hormuz increased volatility and had a mixed effect on soybeans, since higher oil prices improve the competitiveness of biofuels but restrict the global supply of fertilizers and agricultural inputs.
US demand remains as expected.
On the demand side, the U.S. Department of Agriculture (USDA) The company reported weekly shipments of 815,000 tons of soybeans in the week ending April 9. The volume was within market expectations, which ranged from 400,000 to 1.365 million tons.
This text was translated by machine from Brazilian Portuguese.