Soybean prices continue yesterday’s losses on the Chicago Stock Exchange and are still operating in negative territory this Wednesday morning (1). Around 7:30 am (Brasília time), prices dropped between 2.50 and 5.50 points, with May worth US$ 11.43 and July at US$ 11.58 per bushel.
The market remains under pressure due to a combination of factors, including the advance of planting and the good weather conditions in the USA, the still weakened demand for American soybeans, China on holiday until Friday – also leaving the market empty – and the recent rise in the dollar.
Yesterday, the rise of the American currency weighed on all commodities, with investors seeking protection on a day of high risk aversion, waiting for new information that could move the markets even further. The Federal Reserve’s decision on US interest rates is one of the most anticipated, once again.
Also this Wednesday, the drops in bran – of more than 1.5% on the CBOT – and oil, which continues to retreat – even in a more timid way – are also putting pressure on grain futures after the previous session’s plunge, of more than 3%.
In Brazil, markets do not operate due to the Labor Day holiday.
See how the market closed this Tuesday:
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Per:
Carla Mendes | Instagram @jornalistacarlamendes
Source:
Agricultural News
Tags: Soybeans Prices slight drops Chicago Wednesday continuing losses ..
