Retreat day: soybean prices drop in Brazil on a down day in Chicago

The Brazilian soybean market registered a decline this Friday (14). According to analyst Rafael Silveira from consultancy Safras & Mercado, despite a bullish report, Chicago retreated and this pulled the physical market down. The day was of low intensity in negotiations. According to Silveira, prices fell between R$ 2 and R$ 3 depending on the location, with premiums adjusting very little. Thus, the greater pressure came from the CBOT, especially on the port. Deals were stuck, with few offers, despite the good movements observed for the rest of the week. "The producer expected a more consistent rise in Chicago, but in practice, prices fell back," he stated. In the fields, planting continues to advance, but the analyst highlights that in the Northeast, irregular rains continue to bring a lot of concern. For now, the producer's focus remains entirely on planting. Soybean futures closed lower this Friday on the Chicago Board of Trade (CBOT). The data from the November report by the ...