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The soybean market operates at a high this Friday morning (17) on the Chicago Stock Exchange. Around 8:05 am (Brasília time), prices rose 2.50 to 3 points in the main contracts, taking March to US$ 15.29 and July to US$ 15.15 per bushel. Grain prices followed bran, which rose more than 1% on the CBOT at the beginning of the day and even in the face of low oil prices.
Soybean oil registered a Friday morning drop of more than 1% due to the collapse in oil. Both WTI and Brent operated with losses of more than 2%, weighing on vegetable oils in general, also taking soybean oil, which limited gains in grain.
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Traders work with already known news, including the delay in the Brazilian harvest, the drought in Argentina and the more cautious demand in China at the moment. And they share space on the radar with information about the macro scenario, especially about American monetary policy, which dominated the news this week.
More than that, the market is also adjusting before the new Agriculture Outlook Forum that the USDA (United States Department of Agriculture) is holding next week, bringing the first projections for the 2023/24 harvest, which could affect the market.
Source: Carla Mendes | Notícias Agrícolas
