At 9:39 am (Brasilia time) this Wednesday (25), the May soybean contract traded on Chicago Stock Exchange (CBOT) It registered a slight increase of 4.50 points and 0.39%, quoted at US$ cents 1,159.50/bushel, but with a partial loss of 0.13% for the week. The July contract advanced 4.25 points and 0.36%, to US$ cents 1,175.75/bushel. Yesterday (25), futures retreated 0.73% and 0.64%, to US$ cents 1,155.00/bushel and US$ cents 1,171.50/bushel, respectively. In relation to derivativesThe price of soybean meal rose 1.10%, while the price of soybean oil fell 0.22%.
Relief in the Middle East boosts the market.
This morning, prices are being supported by easing tensions. in the Middle EastThe Strait of Hormuz, a strategic route for global trade, is undergoing a dispute involving the United States, Israel, and Iran. In a statement sent to the International Maritime Organization, Iran affirmed that it will allow the passage of vessels considered "non-hostile" through the Strait of Hormuz. On the other hand, ships linked to the US and Israel remain barred from transiting the region. Besides oil, the strait is also crucial for the transport of fertilizers, accounting for about a third of global maritime trade in these inputs.
Expectations regarding the USDA and biofuels.
Investors are also awaiting the release of new planted area estimates from the United States Department of Agriculture, scheduled for next Tuesday (31), which should bring new directions to the market. In addition, possible revisions to biofuel blending targets in the US remain on the radar, which could increase demand for raw materials such as soybean oil.
This text was translated by machine from Brazilian Portuguese.