This Monday (30), soybean prices continue to work on the positive side of the table on the Chicago Stock Exchange (CBOT). At around 2:47 pm (Brasília time), the main maturities operate with valuations of 21.25 to 18.75 points. The November/19 contract operated at US$ 9.04 per bushel, January/20 was quoted at US$ 9.18 per bushel and March/20 operated at US$ 9.28 per bushel.
The United States Department of Agriculture (USDA) reported that quarterly soybean stocks as of September 1st totaled more than 24.8 million tons (913 million bushels), 108% higher than the same date last year. However, the number was below what the market expected, which was 26.6 million tons (980 million bushels).
According to information from Bryce Knorr, from Farm Futures, grain prices are rising after the announcement of the quarterly report on grain stocks from the United States Department of Agriculture (USDA). “The government updates inventories on September 1, finalizing the run for 2018 corn and soybeans, providing fresh wheat production data in its small grain summary,” Knorr said.
According to information released by Reuters International, the market is monitoring trade negotiations between Washington and Beijing and observing additional Chinese purchases of agricultural products from the United States. Negotiations are scheduled to resume next week.
Source: Notícias Agrícolas
