The price of soybeans on the Chicago Grain Exchange registered an increase of 4.00 points on Thursday (25.04) in the May/19 contract, closing at US$ 8.5925 per bushel. The other highlighted commodity maturities on the CBOT also closed the session with valuations between 3.75 and 4.00 points.
The main futures contracts reacted in the North American market, driven by weekly exports. “Chinese customs data showed 4.92 MT of soybeans imported in March, with 1.51 MT originating from the US (50% less than last year). IGC increased its 2019/20 world soybean production estimate by 2 MT, which also increased final stocks by 5 MT to 56 MMT”, points out T&F Consultoria Agroeconomia.
According to AgResource Consulting, CBOT futures brought a slight recovery in yesterday's session, as the North American currency gains value against the main global currencies: “Furthermore, the weekly export numbers for US soybeans brought ' speculative mood' with weekly grain sales above market expectations”.
“A total of 596 thousand tons of oilseed were sold in contracts this last week, for shipment until the end of August this year, being the highest value for the period in question, since 2009. Of the total, 212 thousand tons are scheduled for delivery to China , while 230 thousand still do not have specific destinations. In corn, the total sold in contracts totaled 779 thousand tons this week. Cereal shipments accumulated 1.2 million tons in the same period”, conclude ARC analysts.
Post | Guilherme R. Bezzarro 16:30:39
Author | VISIT
Source | agrolink
