Soybean futures contracts on the CBOT closed lower for the third consecutive session. The main maturities registered falls of 17.75 to 18 cents, with November/23 quoted at US$ 13.68¾ (- 1.30%) and January/24 at US$ 13.82 (- 1.27%) the bushel. November at the low of the day (US$ 13.67¼), recorded the lowest price since August 24th. In the last five sessions, November recorded a fall of 0.22% and January of 0.11%. Soybean meal futures on the CBOT closed lower for the third consecutive session. The main maturities registered falls of US$6.20 to US$6.30, with October quoted at US$404.70 (- 1.53%) and December at US$404.00 (- 1.53%) 51%), the short ton. December at the low of the day (US$ 402.80), registered the lowest price since August 24th. In the last five sessions, October recorded a drop of 2.62% and December of 2.01%. Soybean oil closed lower for the third straight session, with December down 0.24%. In the last five sessions, December registered an increase of 0.48%. The market continues to monitor the development of the American harvest, with weather forecasts indicating above-normal rainfall for the next ten days in the main grain-producing areas of the United States.
LIBRARY TV SNA SUBSCRIBE Photo: Vecteezy.com Another reason for today's drop was the appreciation of the dollar on the international market, which increases the competitiveness of Brazilian exports. Around 4 pm (Brasília time), the Dollar Index was up 0.42%, quoted at 103,603 points. USDA – Sales Exporters reported to the USDA the sale of 132,000 tons of soybeans from the 2023/24 crop to China. USDA – Weekly Soy Sales Report United States exporters reported that cancellations exceeded soybean sales from the 2022/23 harvest by 50,700 tons in the week ending August 24. The volume represents a significant drop, the largest in the trading year, from the previous week and from the previous four-week average. For the week, the main buyers were China (105,600 tonnes), Colombia (4,500 tonnes), Vietnam (1,700 tonnes), Costa Rica (1,400 tonnes) and Taiwan (300 tonnes), which did not make up for cancellations made by Destinations Unknown (108,000 tonnes ), Mexico (55,700 tons) and Egypt ...
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