Soybeans: On the eve of the US holiday, Chicago remains stable in trading this Wednesday

The soybean market continues to work with stability this Wednesday (23) at the Chicago Stock Exchange. Around 12:10 am (Brasília time), quotations rose by 0.25 to 0.50 in the main maturities, with the exception of May, which lost 1 point and was quoted at US$ 14.45 per bushel. On the eve of the US holiday, in celebration of Thanksgiving, the grain market continues with timid oscillations.

The weather in South America remains in the spotlight. There is a slower pace of planting being registered in Brazil at the moment, due to the lack of rain in some parts of the country, especially in the Midwest. Thus, there is already talk of lower production in some states, such as Mato Grosso and Goiás, for example.

In Argentina, what is being observed now is one of the biggest delays in 20 years due to the very dry weather that also does not allow for the progress of work in the fields.

Thus, both factors support soybean prices, including keeping them above USD 14.00 per bushel. And this, mainly, because demand is a little more fragile for now, mainly due to the worsening of the Covid-19 pandemic in China. Oilseed consumption is a concern, as well as all other commodities.

Even so, the market received this Wednesday the information of a sale of 110 thousand tons of soybeans from the USA to China, brought by the USDA (United States Department of Agriculture).

The financial sector also continues to influence the course of quotations, with much attention paid to the dollar's path against the real, in addition to the continuation of the war between Russia and Ukraine, fears of recession and its consequences.

Source: Notícias Agrícolas

website

whatsapp