Image: Adobe Stock
At 1:39 pm (Brasília time) this Monday (15), the July soybean contract on the Chicago Stock Exchange (CBOT) showed a strong increase of 17.00 points and 1.22%, quoted at US$ cents 1,407.00/bushel; that of August advanced 14.00 points and 1.06%, traded at US$ cents 1,332.25/bushel.
The grain intensified its gains, reflecting the devaluation of the dollar against the main global currencies.
{module Form RD}
Furthermore, despite the drop in 0.14% of bran, it reflected the sale of 100 thousand tons of the product to Poland, with delivery scheduled for the 2022/23 commercial year.
Also supported by the appreciation of 1.31% of oil, which followed the significant increase of more than 2% in the June maturity of WTI oil on the New York Commodity Exchange (Nymex).
However, gains were limited by the weekly shipment report for the week ending May 11. Data reported by the United States Department of Agriculture (USDA) show that the North American country exported 148 thousand tons of soybeans in the period, a volume 62.8% lower than that shipped in the previous week and 65.3% below the weekly average to reach the total estimated for the 2022/23 harvest, 54,839 million tons.
Later today, the National Oilseed Processors Association (NOPA) will report April data on US soybean crushing.
Source: datagro
