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Soybean prices continue to decline on the Chicago Stock Exchange this Wednesday (10). Losses among the most traded contracts, around 8:20 am (Brasília time), lost between 7.75 and 9.50 points, with July worth US$ 14.04 and August, US$ 13.39 per bushel. Not only soybeans operate in the red, but commodities in general. Among grains, wheat is the leader in losses on the CBOT, falling more than 1% this morning.
And commodities, in turn, reflect concerns about more risky finance this Wednesday, with a focus on the American economy. “The issue now is inflation and the debt ceiling in the USA. The American government only has a few more weeks to reach an agreement on increasing the ceiling”, explains market analyst Eduardo Vanin, from Agrinvest Commodities.
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Furthermore, the market continues to be pressured by good weather conditions in the USA, providing space for rapid progress in planting the 2023/24 harvest in the country.
Traders also continue to adjust their positions before the arrival of the new monthly supply and demand bulletin that the USDA (United States Department of Agriculture) brings this Friday, May 12th.
Source: Notícias Agrícolas
