November consolidates soybean prices, but weather worries producers: is the crop at risk?

November ended with slightly better prices for soybeans in Brazil, but trading remains limited. According to the consultancy Safras & Mercado, despite the appreciation of futures contracts on the Chicago Stock Exchange, Brazilian producers are only trading what is necessary, in anticipation of higher prices and closely monitoring the evolution of the crops. Between the opening and closing of the month, the 60-kilo bag had discreet variations: in Passo Fundo (RS), it went from R$ 134.00 to R$ 136.00; in Cascavel (PR), it rose from R$ 134.00 to R$ 135.00; in Rondonópolis (MT), it fell from R$ 125.50 to R$ 124.00; and in the Port of Paranaguá, the national benchmark, it advanced from R$ 140.00 to R$ 142.00. On the Chicago Mercantile Exchange (CBOT), contracts expiring in January registered a 1.46% increase in the month, closing the session on November 26 at US$ 11.31 ½ per bushel. The movement reflected the resumption of Chinese purchases of U.S. soybeans, albeit at a slower pace ...