The August soybean contract traded on Chicago Board of Trade (CBOT) The futures contract closed this Monday (20) with a strong increase of 21.50 points and 1.78%, quoted at US$ cents 1,226.00/bushel; the September contract advanced 22.00 points and 1.84%, to US$ cents 1,125.50/bushel. Derivatives closed in mixed territory: the bran recorded a gain of 1.03%, while the oil It fell 0.17%. In this trading session, the market was boosted by new export sales announced by… United States Department of Agriculture (USDA).
The agency reported two sales made on Monday: 264,000 tons of soybeans to China and 110,000 tons to an unidentified destination, reinforcing expectations of increased demand for US soybeans. Weather forecasts also supported prices. According to the daily bulletin from USDAA heat wave has raised temperatures in the Corn Belt ahead of the arrival of a cold front. The agency highlighted that today's highs should reach 38°C or more across much of Nebraska, western Iowa, and southern South Dakota, causing water stress in corn and soybean crops that are in their reproductive phase. On the other hand, the price increase was partially limited by the weekly shipping data released by… USDAIn the week ending July 16, the United States exported 297,000 tons of soybeans, a volume below market expectations, which ranged between 400,000 and 600,000 tons. Investors remain attentive to the release of the weekly report on crop conditions and stages in the United States, which could provide new directions for soybean prices in the coming trading sessions.
This text was translated by machine from Brazilian Portuguese.