Good development of Brazilian soybean crops puts pressure on Chicago

The Chicago Mercantile Exchange (CBOT) is trading at falling prices for soybeans and soybean oil, while meal is showing mixed prices. According to Safras & Mercado, the market is under pressure from the good development of soybean crops in Brazil, which is benefiting from favorable weather conditions, and competitiveness with Brazilian production is expected to increase in early 2025. The appreciation of the dollar against other currencies is also impacting soybean prices. In addition, fears related to the foreign policy of US President Donald Trump continue to generate uncertainty in the market, which further influences the movement of prices. In the case of soybean futures contracts, the position for January 2025 recorded a price of US$ 10.02 1/4 per bushel, a drop of 7.50 cents per bushel or 0.74%. The position for March 2025 was quoted at US$10.12 1/2 per bushel, a decrease of 6.50 cents ...