Still in an established downward channel, soybean prices retreated again on the Chicago Stock Exchange this Wednesday morning (24), but in a very timid manner. At around 7:30 am (Brasília time), oilseed prices ranged from 1 to 2.75 points in the most traded contracts, which took May to US$ 11.67 and July to US$ 11.81 per bushel.
The market continues to seek to define its direction more assertively – despite the pressure still installed on prices – following North American and Brazilian exports, the behavior of demand and, of course, the behavior of the climate in the American Midwest.
Planting is under development in the country, reaching 8% of the area, in a scenario – until now – of favorable conditions for field work. Pay attention now to the latest forecasts.
On the demand side, the focus is still on Brazilian soybeans – with premiums reaching season highs – and still maintaining a certain weakness in North American exports, also maintaining pressure on Chicago.
See how the market closed this Tuesday:
By: Carla Mendes | Instagram @jornalistacarlamendes
Source: Agricultural News
Tags: Soybeans Market sideways Chicago Wednesday awaiting strong news
