How did soybean prices stand on the eve of the USDA report?

The Brazilian soybean market operated completely stalled this Monday (8). According to analyst Rafael Silveira from consultancy Safras & Mercado, there were no relevant indications today, with prices falling in various regions and buyers completely on the sidelines. According to him, the market stood still awaiting the supply and demand report from the United States Department of Agriculture (USDA), which will be released this Tuesday (9). Silveira adds that the exchange fell, the dollar showed volatility, and the premiums even rose a little, but without much impact. “In the new crop, there were no reports of major deals. If anything came out, it was very punctual,” he said. Soybean futures contracts closed lower this Monday (8) on the Chicago Board of Trade (CBOT). Doubts about the pace of Chinese purchases of American product and the expectation around the United States Department of Agriculture (USDA) numbers tomorrow and the Federal Reserve (Fed) interest rates on Wednesday ...