Rise in oil prices boosts soybeans and stirs up Brazilian market

After a week marked by calm and few deals, the Brazilian soybean market registered greater activity on Thursday (23). According to analyst Rafael Silveira from consultancy Safras & Mercado, the rise in oil prices reflected in the soybean complex and stimulated trading in the physical market. The Chicago Stock Exchange closed with a strong increase, driven by the appreciation of soybean oil, a consequence of the rise in oil prices following sanctions by Donald Trump against Russian oil. "China and India, major buyers of Russian oil, will need to seek new suppliers to avoid penalties in the western banking system SWIFT," explains Silveira. This movement aims to reduce Russia's main source of financing and limit its ability to sustain the conflict in Ukraine. The dollar declined against the Brazilian real, driven by the inflow of foreign capital. The real benefited from global liquidity and demand for currencies from emerging economies, according to the analyst. In the physical ...