USA: Soy closes lower in a correction movement, with the market focused on planting in Brazil

Published 2023년 11월 30일

Tridge summary

Soybean futures contracts on the CBOT closed lower for the third consecutive session, with drops in prices for soybeans, soybean meal, and soybean oil. The slow pace of planting in Brazil due to climate problems is being monitored by the market, but the forecast of rain in the coming weeks is expected to benefit crop development. Optimistic estimates for Argentina's soybean harvest are limiting momentum in Chicago, with predictions of a harvest of up to 50 million tons in 2023/24.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

LIBRARY TV SNA SUBSCRIBE In the last five sessions, January/24 accumulated a drop of 1.01% and March of 0.87% - Image by Vectonauta on Freepik Soybean futures contracts on the CBOT closed lower, after two consecutive sessions of high. The main maturities registered drops of 3.25 to 4.25 cents, with January/24 quoted at US$ 13.42¾ (- 0.32%) and March/24 quoted at US$ 13.62¼ (- 0. 24%) per bushel. In the last five sessions, January/24 accumulated a drop of 1.01% and March of 0.87%. Soybean meal futures contracts on the CBOT closed lower for the third consecutive session. The main maturities registered drops of US$ 2.70 to US$ 3.00, with January quoted at US$ 424.00 (- 0.70%) and March/24 quoted at US$ 414.20 (- 0 .65%) per short ton. January/24 at the day's low (US$420.60) registered the lowest price since November 3rd. In the last five sessions, January/24 accumulated a drop of 3.11% and March/24 a drop of 2.33%. Soybean oil closed lower again, with January/24 recording a drop of ...

Source: SNA