Futures contracts of soy continue with slight gains this Wednesday (23) on the Chicago Stock Exchange. However, the market is operating with instability, having shown negative variation during the trading session, before resuming gains.
At around 11:22 am (Brasília time), the November/24 contract was up 2.50 points, priced at US$ 9.94 per bushel. The January/25 contract was quoted at US$ 10.01 per bushel, up 1.50 points, while the March/25 contract was trading at US$ 10.01, up 2.25 points. The May/25 contract also rose 2.75 points, trading at US$ 10.29 per bushel.
According to Farm Futures, soybean prices are particularly strong, supported by river elevators in the U.S. Midwest, where grain traders are rushing to ship soybeans ahead of the U.S. presidential election. Concerns about potential renewed trade tensions between the U.S. and China have also been weighing on the move.
The U.S. Department of Agriculture inspected about 2.5 million tonnes of U.S. soybeans for export last week. Of that, it sent nearly 1.7 million tonnes to China, the most exported in a year.
Financial market
Reuters International highlighted that the dollar rose against the real on Wednesday, following the strength of the US currency abroad. This occurs as investors prepare for a gradual monetary easing cycle at the Federal Reserve and for the presidential elections in the United States.
At 9:29 a.m., the spot dollar rose 0.47%, being quoted at 5.7237 reais for sale. On B3, the first-maturity dollar futures contract recorded an increase of 0.46%, at 5.726 reais for sale, as reported by Reuters.
Source: Andressa Simão | Notícias Agrícolas
