Friday saw slight losses for soybeans on the Chicago Board of Trade. After closing the previous session higher, oilseed futures were down just over 3 points on the morning of June 21, around 7:50 am (Brasília time), with July priced at US$ 9.12 and August at US$ 9.18 per bushel.
The market continues its adjustment and repositioning movement, mainly waiting for the new planting area bulletin for the 2019/20 harvest that will be reported next Friday (28). In addition, the USDA (United States Department of Agriculture) brings new rules for Prevent Plant that may influence the decisions of rural producers.
In addition, the focus is also on weather forecasts for the Corn Belt, which still indicate continued rainfall in the belt. And the highest volumes now, according to the map released by NOAA this Friday, are expected for states slightly further west such as Missouri, Kansas, and Nebraska, all still in the heart of the productive regions. Iowa could also receive, by June 28, more than 80 mm of precipitation.
US trade negotiations with a number of countries are also on traders' radar. For soybeans, the focus is on China, but the market is also paying attention to US relations with Mexico, Canada, the European Union and Japan, according to international analysts.
All eyes are now on the new G20 meeting taking place in Osaka, Japan, between June 28 and 29, where Donald Trump and Xi Jinping could meet again to resume negotiations between the world's two largest economies.
Post: Marina Carvejani
Author: Carla Mendes
Source: Notícias Agrícolas
