Soybeans closed slightly higher on the CBOT this Monday.

The May soybean contract traded on Chicago Board of Trade (CBOT) ended this Monday (23) in slight increase of 2.25 points and 0.19%, quoted at US cents 1,163.00/bushelThe July due date It rose 2.50 points and 0.21%, the US$ cents 1,179.00/bushelRegarding by-products, the oil increased in value by 0.11%, while the bran decreased by 0.43%.

Demand and exchange rates provide support.

In this trading session, the market was supported by a combination of Strong international demand and by dollar devaluation against major global currencies. The DXY index fell 0.44% on the day, favoring the competitiveness of US exports. United States Department of Agriculture (USDA) reported a one-off sale of 161,120 tons of soybeans for the MexicoMeanwhile, shipments from the United States, up to March 19th, totaled… 1.102 million tons, up 12.3% compared to the previous week and within market expectations, which ranged between 600,000 and 1.15 million tons.

Oil continues to have an influence.

The market also followed the developments. of the war involving the United States, Israel and Iranwhich continues to influence prices oilUS President Donald Trump stated that he would postpone attacks against Iran for five days, mentioning the possibility of negotiations. Initially, this signal put pressure on oil prices, but Iranian refusals to engage in dialogue with Washington limited the downward movement. This dynamic remains on investors' radar. since grains and oilseeds are widely used in the production of biofuels, competing directly with fossil fuels. On the radar, Reuters reported the administrator of U.S. Environmental Protection Agency (EPA)Lee Zeldin stated that the announcement regarding the biofuel blending quota in the US will be made "before the end of the month."

This text was translated by machine from Brazilian Portuguese.