On the morning of this Monday (14), the prices of soy on the Chicago Stock Exchange showed a slight decline. At around 6:05 am (Brasília time), prices were falling, with the most traded contracts losing between 2 and 3.2 points. The November contract was quoted at US$ 10.02 per bushel, while the May contract was traded at US$ 10.47 per bushel.
Soybean futures followed the downward trend of neighboring markets, such as corn and wheat. In addition, derivatives also fell. Soybean oil, which led the losses, fell more than 1.5% this morning. The first maturity of soybean oil was quoted at 42.61 cents per pound.
The soybean market and soybean prices remain stable in light of the information already known. Traders continue to pay attention to the latest supply and demand report from the USDA (United States Department of Agriculture), released last Friday (11), which brought data without major news.
Rainfall monitoring in Brazil
At the same time, the market is monitoring the rains that are beginning to arrive in some regions of Brazil, improving conditions for planting in the affected areas.
According to Ginaldo Sousa, general director of the Labhoro Group: “Eastern Mato Grosso do Sul (MS), Goiás (GO) and part of Mato Grosso (MT) received moderate rainfall over the weekend. The MATOPIBA region (Maranhão, Tocantins, Piauí and Bahia) remained dry.”
Forecasts for the next ten days indicate rain for the Center-West and MATOPIBA, while the southern states should face below-average rainfall.
Pay attention to the financial market and commodity funds
In addition to weather conditions, the market remains attentive to the movement of the financial sector, especially in relation to the behavior of investment funds in agricultural commodities, which may directly influence prices in the coming weeks.
Source: Carla Mendes | Notícias Agrícolas
