At 11:45 am (Brasília time) this Friday (9), the September soybean contract on the Chicago Board of Trade (CBOT) showed a slight increase of 1.00 points and 0.10%, traded at US$ cents 994.50/bushel, but with an accumulated weekly loss of 1.85%. The November maturity rose 0.50 points and 0.05%, to US$ cents 1,008.75/bushel.
Supported by strong international demand. Earlier, the USDA reported soybean sales: 212,000 tonnes to an undisclosed destination and 132,000 tonnes to China.
In relation to derivatives, the bran fell 1.35%, on the other hand, despite the sale of 100 thousand tons to Colombia. The oil, in turn, rose 0.09%, supported by the continuation of the strike by workers in industries producing the commodity in Argentina.
The market continues to monitor crop developments in the Corn Belt. In its daily weather report, the USDA noted that the prevailing cool, dry weather across much of the belt is conducive to summer crops that are in the reproductive and filling stages. Later today, maximum temperatures in the Midwest are expected to range from about 65°F in the Upper Great Lakes region to 85°F in the Ohio Valley.
On Monday (12), the USDA will then release the monthly supply and demand report.
Source: datagro
