The soybean market fell considerably this Thursday (26) on the Chicago Stock Exchange, after closing the previous day very close to stability. Prices, around 7:10 am (Brasília time), registered drops of 6.50 to 9.75 points in the main contracts, with May worth US$ 8.71 and July, US$ 8.75 per bushel.
The numerous uncertainties surrounding the macroeconomic scenario still maintain pressure on prices in general, leaving room only for occasional gains among commodities, stock indices and other assets. In soybeans, however, there is a little more room for increases – even if somewhat fragile – given the positive fundamentals that this market has at the moment.
“In the very short term, we await some important reports from a fundamental point of view. In a few hours, the report on weekly American exports and, on Tuesday, the planting intention and quarterly stock in the USA”, says Steve Cachia, consultant at Cerealpar and AgroCulte. “Another day of work in a scenario of uncertainty like never before seen in our generation”, he adds.
In Brazil, soybean prices remain historically high, pointing to a maintenance of this firmness given their own fundamentals. There is already a high percentage of the current harvest sold and committed to exports, strong domestic demand and a dollar still above R$ 5.00.
Source: Notícias Agrícolas
