During the week, soybean prices in Chicago fluctuated, with the first month priced seeking to break the ceiling of US$ 12.00 per bushel
Agrolink – Aline Merladete
Published on 04/01/2024 at 09:14h.
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Quarterly stocks, as of March 1st, registered an increase of 9% compared to the same period last year – Photo: Pixabay
During the week, soybean prices in Chicago fluctuated, with the first month quoted seeking to break the ceiling of US$ 12.00 per bushel, however, without achieving success. This scenario was marked by expectations surrounding the reports on planting intentions and quarterly stocks in the United States, released on Thursday (28). The reports revealed important numbers: the intention to plant soybeans showed an increase of 3% in area compared to the previous year, which indicates a projection of 35 million hectares to be sown with soybeans in the USA this year.
According to market analysis by the International Center for Economic Analysis and Agricultural Market Studies (CEEMA), quarterly stocks, as of March 1st, registered an increase of 9% compared to the same period of the previous year, totaling 50.3 million tons. These data were within the market’s average expectations.
As a result of these numbers, the closing of prices on Thursday (28) remained relatively stable compared to the previous day, with the price quoted at US$ 11.91 per bushel, against US$ 12.12 a week earlier.
From now on, weather conditions in the United States in relation to the local summer harvest will be one of the main factors influencing soybean prices.
