Image: Pixabay
At 8:05 am (Brasília time) this Tuesday (29), the May soybean contract on the Chicago Stock Exchange (CBOT) showed a slight increase of 3.50 points and 0.21%, traded at US$ cents 1,667.75/bushel, and advanced 1.88% in the month to date; July's value was 3.25 points and 0.20%, quoted at US$ cents 1,650.00/bushel, with a monthly increase of 2.04%.
On Monday (28), the oilseed spot registered a drop of 2.69%. Pressure for the possibility of a ceasefire between Russia and Ukraine, in addition to restriction measures in Shanghai, China – the Asian country is facing the largest outbreak of Covid-19 since the beginning of the pandemic.
However, the drop was limited to sales of 132 thousand tons of soybeans to China, scheduled for shipment in the 2021/22 commercial year.
{module Form RD}
This morning, prices were supported by the weekly shipments report from the United States Department of Agriculture (USDA). According to the document, the North American country shipped 629 thousand tons of soybeans in the week ending March 24, a volume 13.5% higher than that shipped in the previous week, 2.9% above the weekly average to reach the estimated total harvest 2021/22 and 39.4% more compared to the same period last year.
Soybean oil advanced 1.19%, while bran, on the other hand, fell 0.61% due to technical profit-taking movements, as it shows a weekly appreciation above 6% due to restrictions on product exports in Argentina.
On Thursday (31), the USDA will release new figures on the planting area in the North American country.
Information about the behavior of the global financial market, the war in Eastern Europe, the climate in South America and international demand remains on the market's radar.
Source: DATA
