The May soybean contract traded on Chicago Board of Trade (CBOT) closed this Monday (6) with a slight increase of 3.25 points and 0.28%, quoted at US cents 1,166.75/bushel The July maturity rose by the same intensity, US cents 1,183.25/bushelRegarding derivatives, the oil and the bran They advanced 1.47% and 0.44%, respectively.
Strong demand drives market
In this trading session, prices benefited from strong international demand. According to the weekly shipping report… United States Department of Agriculture (USDA) 779,000 tons of soybeans were shipped in the week ending April 2nd, exceeding market expectations, which ranged from 400,000 to 750,000 tons. Furthermore, expectations are growing regarding a possible meeting between US President Donald Trump and Chinese leader Xi Jinping, scheduled for May. The market is betting on advancements in trade relations that could favor US agricultural exports.
Geopolitics and Wasde remain on the radar.
Investors also followed developments in the war in the Middle East, after the United States and Iran rejected a ceasefire proposal mediated by Pakistan. The conflict continues to influence oil prices and raise concerns about the global supply of fertilizers, with potential impacts on agricultural production. In the short term, the market is focused on the release of the monthly supply and demand report (Wasde) of USDA, scheduled for Thursday (9), which may bring new directions for commodity prices.
This text was translated by machine from Brazilian Portuguese.