Highs continue among the prices of soy traded on the Chicago Stock Exchange in the session this Thursday (27), mainly after the numbers from the USDA (United States Department of Agriculture) reported during the first day of the Outlook Forum. The area destined for soybeans was projected at 34 million hectares, against 35.26 million for the 2024/25 harvest.
Thus, at around 12:50 pm (Brasília time), gains among the most traded positions varied between 3.75 and 5.25 points, taking May to US$ 10.46 and July to US$ 10.61 per bushel. Oil prices also rose, while bran fell again.
“Grain futures in Chicago are rising, driven by the USDA’s projection of a smaller planted area in the 2025/26 cycle. The recovery of derivatives strengthens support,” say analysts at Pátria Agronegócios. “The report provides support for the soybean market, but does not guarantee deep increases as it is not an aggressive increase.”
Meanwhile, the new US crop remains the main focus. However, the market is also monitoring the closing of the season in South America.
Rains are coming to Argentina, contributing to better crop establishment.
In Brazil, the harvest has resumed its rhythm. However, it is still necessary to monitor how production will be completed in Rio Grande do Sul, which continues to be affected by irregular rainfall. On the demand side, the strength remains. China continues to be very present in the market, looking at the main sources and trying to understand where the best business opportunities are at this time.
Source: Carla Mendes | Notícias Agrícolas
