Image: Pixabay
The May soybean contract ended this Friday's session (1st) at a significant low of 35.50 points and 2.19% on the Chicago Stock Exchange (CBOT), quoted at US$ cents 1,582.75/bushel; July fell 31.25 points to 1.96%, trading at US$ cents 1,566.75/bushel. On a weekly basis, the oilseed spot depreciated by 7.46%.
In relation to derivatives, bran fell 3.74%, while oil increased 1.80%.
The spread of Covid-19 in China and the reinforcement of restrictive measures in the city of Shanghai had an impact on the grain.
{module Form RD}
The reports released yesterday (31) by the United States Department of Agriculture (USDA) still reverberated in the oilseed crop. The bulletin on planting intentions showed a record soybean area for the North American country: 36.81 million hectares, compared to investors' expectations of 36.00 million hectares and 35.29 million hectares cultivated in the 2021/22 season .
The document on quarterly stocks for the 1st of March indicated 52.56 million tons, against the market estimate of 51.90 million tons and 42.51 million tons registered a year ago.
However, the decline was limited by the loss of productive potential in South America and the continuation of the war in Eastern Europe.
Source: DATA
