Soybeans: Market sideways in Chicago this Wednesday, and awaiting new strong news

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: