Holiday Eve: Did Soybean Prices Fall or Rise?

The Brazilian soybean market registered a Wednesday marked by slowness, reflecting the eve of a holiday and the lack of stimuli from the Chicago Board and the dollar quotation, both operating laterally. According to Safras & Mercado consultant Rafael Silveira, only the Formosa region in Goiás showed relevant movement, with some good deals. In other markets, the pace was slow and quotations changed little. The soybean futures contracts traded on the Chicago Mercantile Exchange (CBOT) ended the session with slight oscillations. The grain closed near stability, while meal declined and oil appreciated. Profit-taking, after three consecutive sessions of gains, generated some pressure, but concerns about climate in the US acted as a supporting factor. The July/25 soybean grain contract rose 0.75 cents per bushel (0.06%), closing at US$ 10.74 3/4 per bushel. The November/25 position advanced 0.50 cents (0.04%), quoted at US$ 10.68 1/4. In by-products, the July/24 meal fell US$ ...