The July soybean contract traded on Chicago Stock Exchange (CBOT) It closed this Monday (1st) with a moderate drop of 6.00 points and 0.51%, quoted at US$ cents 1,180.75/bushel. The July contract fell 5.25 points and 0.44%, to US$ cents 1,185.00/bushel. Regarding derivatives, the bran It fell by 1.00%, while the oil The price rose 1.76%, reflecting the increase in oil prices on the international market. In this trading session, prices were pressured by the prospect of favorable weather conditions for crop development in the Corn Belt, the main soybean and corn producing region of the United States. According to the daily bulletin of… U.S. Department of Agriculture (USDA)The weather remains predominantly dry in the Great Lakes region, while scattered showers and thunderstorms continue to be distributed throughout the rest of the Midwest. "Although growing conditions in the Midwest remain largely favorable for corn and soybeans, a short-term drought period developed during the month of May in parts of the northern Corn Belt, extending into northern Illinois and Indiana," the report highlighted. USDAThe market is also awaiting the weekly update on crop conditions and stages in the United States, which will be released by the department later today. In addition to the weather, prospects of ample global supply and still moderate demand from China continued to limit buyer appetite. In the export field, the… USDA It was reported that weekly US soybean shipments totaled 494,000 tons in the week ending May 28. The volume was lower than the previous week, but within the range expected by the market, which varied between 400,000 and 600,000 tons.
This text was translated by machine from Brazilian Portuguese.