USA: The soybean market in Chicago attentive to developments in AMS

Published 2023년 11월 29일

Tridge summary

The market is currently in a profit-taking phase due to irregularities in the Brazilian harvest, which has been affected by climate adversities. Traders are closely monitoring the climate scenario in South America, as well as the growing demand for American soybeans and fluctuations in derivatives. The international context and various variables continue to shape market trends.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The market, still influenced by the irregularity in the Brazilian 2023/24 harvest, is going through a profit-taking phase. Climate adversities persist, affecting plantations and maintaining uncertainty about production volume. Around 8 am (Brasília time), the most traded contracts registered losses between 3.50 and 4.25 points. The values stood at US$ 13.42 for January and US$ 13.74 for May per bushel. Oil and meal futures, which experienced an increase of more than 3% in the last session, also showed a decline on the CBOT, as did the corn market. Traders remain attentive to the climate scenario in South America, which generates alerts not only for Brazil, but also for Argentina and Paraguay. At the same time, they are monitoring the growing demand for American ...

Source: Portal Do Agronegocio