Soybean prices rise in Brazil and reflect market firmness as investors monitor US-China negotiations and USDA report
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The Brazilian soybean market registered a widespread increase in quotations this Thursday (13), with firmer deals throughout the day. According to Rafael Silveira, an analyst from Safras & Mercado consultancy, there were good movements in Minas Gerais, with firm prices and high spreads, as producers continue to ask for higher values. The indications remain above the export parity in several regions, reflecting the dispute between sellers and buyers. In the spot market, available volumes are decreasing as the export enters the final phase of the annual window. "Paranaguá moved volumes today, but nothing very large," he added. With CBOT up and premiums virtually stable, there were direct reflections in the physical market. The market remains attentive to the report from the United States Department of Agriculture (USDA), which will be released tomorrow and may impact the short term. Soybean futures contracts closed firm this Thursday (13) at the Chicago Board of Trade (CBOT). ...
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