The price of soybeans on the Chicago Cereal Exchange registered a minimum of 5.50 million points in the September 19 contract, closing at $ 8.8825 per bushel. Other pending due dates for raw materials in CBOT also closed the session with devaluations between 5.25 and 6.00 points.
The main futures contracts have seen another session of losses in the US soybean market, with rain forecasts for the next few weeks. “The rain in the main EE producing regions. UU. It could generate benefits for the development of the plant. Furthermore, the market is still aware that the USDA was surprised by the announcement of an improvement in 1% regarding good/excellent conditions, when the average analyst anticipated a decrease in this percentage,” said T & F Consultoria Agroeconomia.
ARC Mercosul reports that the Chicago market has increased soybean futures losses in the last few hours of today: “At the end of the morning, prices remained stable, without sudden fluctuations. Meanwhile, mid-day climate updates (central time) have caused floods in the north of the Agricultural Belt, which has been most affected by drought and high temperatures. The change in pattern should take place this weekend, when the arrival of rainfall of between 20 and 40 mm accumulated promotes the recovery of scarce water levels in the soils.”
“ARC indicates that the quality of germination in this region has been seriously affected by excessive rainfall, which has resulted in lower population per area this year. However, the market understands that the most serious areas are located and are still not slowing down the growth at the national level,” the analysts concluded.
Publication: Marina Carvejani.
Author: Leonardo Gottens
Source: agrolink
