The August soybean contract traded on Chicago Stock Exchange (CBOT) The Brazilian soybean futures contract closed this Wednesday (1st) with a moderate increase of 9.00 points and 0.80%, quoted at US$ cents 1,133.25/bushel; the September contract rose 6.75 points and 0.60%, to US$ cents 1,135.50/bushel. In the weekly partial results, the assets accumulate losses of 0.29% and 0.53%, respectively. Regarding derivatives, the bran It rose 0.46%, while the oil It fell 0.36%. In this trading session, prices were driven by the widespread rise in corn and wheat assets in Chicago, as well as by the positive market expectation that Chinese demand for US soybeans will resume soon. The rise comes a day after… U.S. Department of Agriculture (USDA) to release its new quarterly inventory report and planted area outlook. According to the USDAThe area designated for soybean planting in the 2026/27 crop year was estimated at 34.56 million hectares, a 5% increase compared to the previous cycle and slightly above the market's average expectation of 34.54 million hectares. The area projected for harvest was estimated at 34.16 million hectares. Quarterly soybean stocks as of June 1st were estimated at 28.87 million tons, below the 57.28 million tons recorded on March 1st and above the 27.42 million tons observed in the same period last year. Regarding the weather in the Corn Belt region, the area encompassing US soybean and corn crops, the daily bulletin… USDA The report indicated heavy rain and thunderstorms in the northern Midwest, where precipitation significantly benefits corn and soybean crops that have faced drier-than-normal conditions in recent weeks. "In other areas, very hot and dry weather is observed, although soil moisture reserves remain largely abundant," the document adds. Gains were partially contained by the devaluation of oil in the global market, which reduces the competitiveness of biofuels made from grains and oilseeds. The appreciation of the dollar against major global currencies, up 0.23%, also negatively affected prices, which is unfavorable to US exports. Tomorrow (2), the USDA It releases its weekly export sales report, which may provide clues about international demand for US soybeans.
This text was translated by machine from Brazilian Portuguese.