The price of soybeans on the Chicago Grain Exchange recorded a drop of 10.25 cents in the July/17 contract on Monday (12/06), closing at US$ 9.3125 per bushel. The other highlighted commodity maturities on the CBOT also closed the session with devaluations between 10.00 and 10.25 points.
After four consecutive days of gains, the North American soybean market had a day of losses in the main futures prices, the result of a profit-taking movement. Furthermore, the good weather forecast for the largest producing regions continues to put pressure on prices.
Prices moved sideways in Brazil, under the influence of two factors: on the one hand, the downward pressure in Chicago and, on the other, the rise in the Dollar – which ended up neutralized. According to experts, the current political-economic scenario in Brazil does not allow room for much greater variations in the North American currency.
Source: Agrolink
