between strike in Argentina and advance in planting in the USA, Chicago operates mixed

Soybean grain contracts record mixed prices in negotiations in the electronic session on the Chicago Board of Trade (CBOT) this Tuesday (30).

The market operates without a defined tone, oscillating between positive and negative territories. On the one hand, investors turn their attention to the strike in the Argentine sector. The prospect of lower Argentine shipments given this scenario and the increase in oil prices in New York support prices.

However, the advance of seeding in the United States and the strengthening of the dollar against other currencies limit further price advances. The United States Department of Agriculture (USDA) released a report on the evolution of soybean planting. Until April 28, the planted area was estimated at 18%. In the same period last year, sowing was 16%. The average is 10%. The previous week, the percentage was 8 points.

Contracts expiring in July operate at US$11.83 per bushel, an increase of 1 cent, or 0.08%, compared to the previous closing.

On Monday (29), soybeans closed with higher prices. With the 72-hour strike in the sector in Argentina, reducing shipments from that country, and with the dollar falling against other currencies, bargain purchases guaranteed the increase. But the movement was limited by the negative fundamental scenario for prices and concerns about the definition of monetary policy in the United States. The decision will be made on Wednesday.

Soybean grain contracts for delivery in May closed up 1.25 cents, or 0.1%, at US$ 11.60 3/4 per bushel. The July position was quoted at US$11.82 per bushel, with a gain of 4.75 cents or 0.4%.