Soybeans close lower on the CBOT this Thursday.

The May soybean contract traded on Chicago Board of Trade (CBOT) closed this Thursday (2) with a slight decrease of 5.00 points and 0.43%, quoted at US cents 1,163.50/bushel …but with a cumulative gain of 0.37% for the week. The July contract fell 4.50 points and 0.13%, to US$ cents 1,180.00/bushel – a weekly increase of 0.40%. Regarding by-products, oil jumped 2.73%, while soybean meal fell 0.94%.

Adjust before the holiday.

In this trading session, prices were pressured by a market adjustment movement before the holiday. Tomorrow (3), trading will be suspended in CBOT due to the Good Friday holiday. Operations will resume normally on Monday (6), when the U.S. Department of Agriculture (USDA) It will resume publishing its weekly bulletin with crop development and conditions updates.

Oil prices are supporting oil prices.

Soybean losses were partially limited by the sharp rise in oil prices, driven by the appreciation of petroleum. This movement comes after statements by US President Donald Trump indicating the continuation of attacks on Iran, reducing expectations of a quick end to the conflict. This increased fears of prolonged disruptions in oil supply, leading Brent crude to approach [a certain level]. US$110 per barrel.

Exports are within expectations.

On the demand side, the USDA reported that weekly soybean sales for the period ending March 26 totaled 353 thousand tons, volume within the range expected by the market, of 300,000 to 700,000 tons.

This text was translated by machine from Brazilian Portuguese.