This Wednesday afternoon (22), soybean futures continue to work on the positive side of the table, however, intensifying their gains on the Chicago Stock Exchange. Prices rose between 8.75 and 12.50 points in the main maturities, with July testing US$ 12.48 and August, US$ 12.46 per bushel. Good increases registered in oil and, mainly, in bran this Wednesday further expand the space for grain gains.
In oil, as analysts at Agrinvest Commodities explain, “the tightness in the physical market for vegetable oils is the reason. Soybean oil in the USA is gaining competitiveness in exports, which ends up providing support for the future.” In bran, concerns are focused on conditions in Argentina.
Another point of stimulus for the prices of soy This afternoon, part of the demand is moving from Brazil to the USA due to the increase in premiums in the Brazilian market, as reported by Pátria Agronegócios.
At the same time, attention should be paid to the weather conditions in the USA and the progress of 2024/25 planting there. So far, the new harvest does not present any major problems or the weather signals strong threats, which means that the impact on prices is more limited.
This Wednesday afternoon, the corn market was also making considerable gains, while wheat was losing again, working in the red in Chicago.
Source: Carla Mendes | Notícias Agrícolas
