Soybeans in Chicago begin the week under the impact of the conflict in the Middle East and climate in the USA

Published 2024년 4월 15일

Tridge summary

At the beginning of the week, soybean futures on the Chicago Stock Exchange saw a decline, with prices falling by 2.50 to 3.50 points, influenced by concerns over the escalating conflict in the Middle East and adverse weather conditions in the United States. The May and August contracts were quoted at $11.71 and $11.81 per bushel, respectively. This decrease in soybean futures was accompanied by a drop in soybean meal futures, although soybean oil prices experienced an increase. The market's attention is currently on the impact of U.S. weather conditions on corn planting and the anticipation of the 2024/25 harvest, as well as the broader implications of the Middle East conflict, especially Iran's attack on Israel, on the global energy, agricultural, and metal commodities markets.

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

Original content

On Monday, soybean futures on the Chicago Stock Exchange started the week in negative territory, reflecting investors' caution given the escalation of the conflict in the Middle East and weather conditions in the United States. At around 7:30 am (Brasília time), prices registered losses of between 2.50 and 3.50 points, with the May contract quoted at US$ 11.71 and the August contract at US$ 11.81 per bushel. This negative movement accompanied the declines in the derivatives market, with losses of more than 1% in soybean meal futures on the CBOT, while oil appreciated, helping to balance prices. Ginaldo Sousa, general director of Grupo Labhoro, highlighted the need for new developments that boost demand or reduce supply to stabilize or set a trend for agricultural commodities. Traders are paying attention to weather conditions in the United States, especially during the start of corn planting and the start of the 2024/25 harvest. The weekend saw predominantly dry conditions, with ...

Source: Portal Do Agronegocio