Bran rises – with attention to the US and strikes in Argentina – and climate in the US are also in focus
Soybean prices left their lows aside and rose sharply again on the Chicago Stock Exchange this Monday afternoon (6). The prices rose, around 12:30 pm (Brasília time), they rose from 15.75 to 23.25 points, with May being quoted at US$ 12.25 and July, US$ 12.35 per bushel. Grain futures – rising more than 1% in this first session of the week – follow a new surge in bran, which rises more than 2% among the most traded contracts. The July contract was up 2.3%, to US$380.60 per short ton.
Analysts and market consultants say that there is still a combination of factors that favors the rise in soybeans, including the strikes in Argentina, the rise in bran on the Dalian Stock Exchange, in addition to the impacts of the rains in Rio Grande do Sul.
“Soybeans continue the recent highs in Chicago, supported by the soybean meal market and the climate in southern Brazil. With a stable dollar, prices in Brazil have improved significantly at the beginning of the week”, says the Pátria Agronegócios team .
The rains gave a brief relief to the people of Rio Grande do Sul at the beginning of the week, however, it is still difficult to measure the real impact of the storms and floods on the soybean harvest in Rio Grande do Sul. There are many areas that still have their crops under water.
“The loss, a priori, could be 4 to 5 million tons, but as for part of this we imagine that time still allows it to be harvested, of these 4 to 5 million tons, perhaps 1.5 to 2 million tons will actually be lost. .5 million tons, which will mean that the projection that was 20 to 22 million tons, in Aprosoja’s conception, will only be around 20 million. This is still perspective, it will depend a lot on the time from now. forward”, explained the president of Aprosoja RS and Senator of the Republic, Ireneu Orth.
Follow his full interview with Bom Dia Agronegócio, on Notícias Agrícolas, this Monday:
In addition to Rio Grande do Sul, bran is another point of attention. And for this market, as Agrinvest Commodities market analyst Eduardo Vanin explains, two points require greater attention now, including the strikes in Argentina and data from NOPA (US National Oilseed Processors Association). “Speaking of the US, the general comment is of bad margins and maintenance stoppages earlier than normal, which will reduce the supply of bran.”
Tags: Soybeans rise strongly Chicago Stock Exchange Monday repercussions ..
