The August soybean contract traded on Chicago Stock Exchange (CBOT) It closed this Tuesday (7) with a moderate increase of 9.75 points and 0.82%, quoted at US$ cents 1,193.75/bushel; the September contract rose 6.00 points and 0.51%, to US$ cents 1,187.00/bushel. Regarding derivatives, the oil and bran They rose by 1.22% and 1.05%, respectively. In this trading session, prices were driven by increased external demand. United States Department of Agriculture (USDA) The company announced on Tuesday a one-off sale of 105,000 tons of soybean meal to Colombia. The market also continued to react to information that the Chinese state-owned company… COFCO On Monday (6), China acquired at least five cargoes of soybeans from the United States, a volume estimated at around 300,000 tons, according to sources heard by Reuters and Bloomberg. The purchases occur a few months after the meeting between the President of the United States, Donald Trump, and the President of China, Xi Jinping. On that occasion, the two countries announced an understanding to expand agricultural trade, including the Chinese commitment to purchase at least US$17 billion in American agricultural products and about 25 million tons of soybeans per year until 2028. Another supporting factor was the appreciation of oil in the international market, which improves the competitiveness of biofuels produced from grains and oilseeds. In the climatic field, conditions remained relatively favorable for the development of American crops. According to the daily bulletin of USDATemperatures remain suitable for summer crops in the reproductive phase, with highs above 32°C restricted to areas of the western Corn Belt, such as Nebraska and South Dakota. The US National Weather Service (NWS) forecasts thunderstorms and heavy rain in parts of the Midwest. According to the agency, a slow-moving cold front is expected to advance from the Mid-Atlantic to the Ohio Valley and the Lower Mississippi Valley, later reaching the Central Plains before returning south on Thursday (9).
This text was translated by machine from Brazilian Portuguese.