Image: Adobe Stock
At 12:42 pm (Brasília time) this Thursday (27), the August soybean contract on the Chicago Stock Exchange (CBOT) registered a slight increase of 2.50 points and 0.16%, quoted at US$ cents 1,548.75/bushel, with a weekly gain of 3.18%; on the other hand, September fell 4.00 points and 0.27%, at US$ cents 1,464.50/bushel.
In relation to derivatives, bran and oil fell 0.43% and 1.19%, respectively.
{module Form RD}
With no defined direction, the spot was supported by export sales records for the week ending July 20, reported by the United States Department of Agriculture (USDA). The document shows that the North American country sold 198 thousand tons of soybeans in the 2022/23 harvest, a volume 55.91 TP3T higher than that sold in the previous week and 5.91 TP3T above the weekly average stipulated to reach the estimated total of 53.887 million tons .
It also supported heated international demand. Today, the USDA reported a sale of 256 thousand tons of soybeans to an undisclosed destination. During the week, sales totaled 878 thousand tons, all referring to the 2023/24 commercial year.
Furthermore, it supported the information that 53% of the crops in the North American country are experiencing drought, a weekly increase of 3 percentage points, according to a survey carried out by the USDA until Tuesday (25) and released today through Drought Monitor.
Source: datagro
{module Read Also}
