The May soybean contract ended this Wednesday's session (23) with a strong advance of 22.25 points and 1.31% on the Chicago Stock Exchange (CBOT), quoted at US$ cents 1,718.75/bushel; July appreciated 19.75 points and 1.18%, trading at US$ cents 1,698.50/bushel. During the week, the oilseed spot accumulated an increase of 3.04%.
In relation to derivatives, bran rose 1.74%, while oil increased 1.92%, driven by the significant increase in WTI oil on the New York Commodities Exchange (Nymex).
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It also supported the loss of productive potential in South America, in addition to the continuation of the conflict in Eastern Europe, which is heading into its 29th day, – together, Russia and Ukraine account for a quarter of the grains market globally.
The market is following the developments of the new Covid outbreak in China, in addition to President Joe Biden's visit to Europe to discuss diplomatic matters.
Tomorrow (24), the United States Department of Agriculture (USDA) will release the export sales record for the week ending March 17.
Source: DATA
