Soja walks sideways and tests both sides of the table in Chicago this Wednesday

The soybean market continues the stability recorded at the close of the previous session and works with slight losses this Wednesday morning (3) on the Chicago Stock Exchange. Prices dropped between 0.25 and 2.75 points, with May being quoted at US$ 11.73 and August, US$ 11.87 per bushel.

The volatility, before the stable closing in the previous session, was very intense and now traders are opting for a slightly more cautious stance, waiting for new news and monitoring fundamentals that they already know. Among them, the climate in the American Midwest is gaining more and more space on traders’ radar.

Thus, the market is seeking its direction, including dividing its attention with the macro-scenario and important indicators that have been emerging in recent days.

Also this Wednesday, I will also focus on the behavior of derivatives, with higher increases being observed today in the soybean oil market – of almost 0.8% in the most traded contracts -, while bran still yields and operates with more than 0.3 % drop.

See how the market closed this Tuesday: