The Brazilian soybean market had a Tuesday with weak prices, from stable to lower. According to Safras Consultoria, the market remained sluggish, with pressure on prices from the low dollar, despite the oilseed close higher on the Chicago Stock Exchange.
The day was just one of isolated negotiations, with no important volumes moving in the main markets. Producers once again retreated from marketing.
Check soybean prices
- Missions Region: R$ 122
- Port of Rio Grande: R$ 130.50
- Cascavel (PR): fell from R$123 to R$122
- Port of Paranaguá (PR): fell from R$130.50 to R$129.50
- Rondonópolis (MT): R$ 116
- Rio Verde (GO): went from R$115 to R$114
Chicago Stock Exchange
Soybean futures traded on the Chicago Board of Trade (CBOT) closed Tuesday with higher prices, on a volatile day.
The performance of other markets ensured the continuity of the technical movement of covering short positions.
Among commodities, the good rise in wheat helped neighboring products. The dry climate in Russia and the United States worries producers and could reduce global cereal supply.
Completing the positive picture, oil rose well and the dollar fell against other currencies. The scenario makes North American exports competitive and helped to sustain prices.
Soybean futures contracts
Soybean grain contracts for delivery in May closed with an increase of 6.50 cents, or 0.55%, $11.67 1/2 per bushel. The July position had a quote of $11.82 per bushel, with a gain of 5.50 cents or 0.46%.
In by-products, the July bran position closed with an increase of US$ 1.30 or 0.37% at US$ 346.10 per ton. In oil, contracts expiring in May closed at 45.88 cents on the dollar, an increase of 0.22 cents or 0.48%.
Exchange
The commercial dollar ended the session down 0.77%, trading at R$5.1290 for sale and R$5.1270 for purchase. During the day, the North American currency fluctuated between a minimum of R$5.1189 and a maximum of R$5.1896.
