Soybean futures traded on the Chicago Stock Exchange operate in a negative field this Thursday morning (21), registering timid drops. Around 7:15 am (Brasília time), prices dropped between 1.50 and 2.50 points, with July being quoted at US$ 8.44 and August, US$ 8.47 per bushel.
The market returns the small gains recorded in the last two days and continues to follow the movement of demand from China in the USA. There are better expectations that the Asian nation will seek more North American products, however, traders need confirmation of these purchases to move business more intensely.
And this Thursday they are still waiting for the new weekly export sales bulletin that will be reported by the USDA (United States Department of Agriculture). Market expectations vary between 800 thousand and 1.6 million tons.
“Grain markets operate without a trend this Thursday awaiting today's bulletin, with the latest numbers on demand”, say consultants from Allendale, Inc., in their daily bulletin.
In Brazil, in addition to the exchange rate issue, the market is also aware of the low availability of soybeans. Yesterday, even with a new drop in the dollar against the real – which even helped to support prices in Chicago – values rose in the domestic market, not only in the ports, but also in the interior. Advances of up to 3% were recorded, with prices still reaching more than R$ 100.00 per bag in several producing regions.
Source: Notícias Agrícolas
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