Soja works with slight highs this Tuesday morning in Chicago; oil rises more than 1%

The soybean market experiences slight increases this Tuesday morning (2) on the Chicago Stock Exchange, recovering part of the previous session’s lows. Around 7:40 am (Brasília time), prices rose 2 to 2.50 points, with May worth US$ 11.87 and August, US$ 12.00 per bushel. Again, traders wait for more fresh news.

Little by little, attention is shifting from the conclusion of the South American harvest to the beginning of the 2024/25 harvest in the United States, with corn planting already started there. The first numbers were reported yesterday by the USDA (United States Department of Agriculture) and showed cereal sowing reaching 2%.

Now, focus on the climate in the Corn Belt, the pace of fieldwork and adjustments in the area that still need to be reported.

At the same time, the market also maintains its focus on the behavior of derivatives, with important support coming from soybean oil, which is rising again today and registers gains of almost 1.5%. The most traded position was 48.93 cents per pound. Bran fell 0.5% to US$331.90 per short ton.

See how the market closed this Monday (1):