Soybeans: The US closes with good rise driven by other grains

Published 2023년 8월 23일

Tridge summary

Soybean futures on the Chicago Commodity Exchange closed higher due to signals of demand and the performance of other markets. The lower risk aversion, favorable stock exchanges, and reduced oil losses contributed to the increase. Concerns were raised about grain supplies from the Black Sea due to new bombings on the Danube port.

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

Original content

Soybean futures traded on the Chicago Commodity Exchange (CBOT) closed on Wednesday (23) with higher prices. Signals of demand for the North American product and the performance of other markets ensured the recovery. After the fall of last Tuesday, the gains came in almost the same proportion. Thus, lower risk aversion favored stock exchanges and reduced oil losses. However, the dollar retreated. This scenario favored the demand for commodities, including the soy complex. Corn and wheat also performed well, leading soybeans. New bombings on the Danube port raised concerns about grain supplies from the Black Sea. For Thursday (24), attention will be focused on data on weekly exports from the United States. With that, the market projects numbers between 550 thousand and 1.4 million tons. soybean futures contracts Soybeans for November delivery contracts closed up 14.50 cents or 1.07% at $13.60 1/2 a bushel. The January position ...

Source: CanalRural