Brazil: See soybean prices after USDA report

The Brazilian soybean market saw a drop in prices this week. During Friday, it was possible to observe the recording of many nominal prices, as in Rondonópolis, Mato Grosso. The buyer continues to pressure the seller with everything he can, seeking to access lower prices. Furthermore, the negotiations were practically empty, with all agents holding back on sales. Soybean futures contracts traded on the Chicago Board of Trade (CBOT) closed Thursday with lower prices. Operations were driven by the January report from the United States Department of Agriculture (USDA), which surprised negatively and put pressure on prices. The market operated close to stability until the USDA's announcement. Shortly after the Department indicated higher-than-expected U.S. and global inventories, U.S. production and quarterly inventories, contracts recorded losses above 2%. The cut in the Brazilian harvest was also considered timid and Argentina's production forecast exceeded expectations. Throughout ...