At 9:58 am (Brasilia time) this Friday (26), the July soybean contract traded on Chicago Stock Exchange (CBOT) The futures contract registered a moderate drop of 6.75 points and 0.60%, quoted at US$ cents 1,120.75/bushel, with a depreciation in the partial weekly total of 0.18%. The August contract retreated with the same intensity, to US$ cents 1,130.25/bushel – a weekly gain of 0.18%. On the previous day (25), the assets rose 1.69% and 1.81%, quoted at US$ cents 1,127.50/bushel and US$ cents 1,137.00/bushel, in that order. In the case of derivatives, the bran and the oil Prices fell 1.23% and 0.92%, respectively. This morning, prices were pressured by technical selling, following yesterday's rise, as weather conditions remain favorable for crop development in the Corn Belt, the area encompassing soybean and corn crops in the United States. According to the daily bulletin from the U.S. Department of Agriculture (USDA), isolated rains are occurring in the region along with temperatures near or below normal. Today's maximum temperatures in the Midwest will remain below 27°C, except in the southern part of the Corn Belt. "With soil moisture scarcity mainly restricted to parts of the upper Midwest, most corn and soybean crops continue to develop with minimal stress," the document says. Furthermore, the fall in international oil prices also put pressure on prices, reducing the competitiveness of biofuels made from grains and oilseeds. Finally, the market is now awaiting the release, next Tuesday (30), of the quarterly planted area and stock reports of USDA.
This text was translated by machine from Brazilian Portuguese.