Iran versus Israel Stirs Soybean Market and Grain Harvest Grows Over 14%

The soybean market showed a slight appreciation in international markets, reflecting a combination of climatic, geopolitical, and economic factors. According to the Grão Direto platform, while global production remains stable, Brazil continues as the protagonist with a forecast of a record harvest, while excessive rainfall in the United States raises concerns about planting. The supply and demand report released this week did not bring major changes. In the United States, soybean production and final stocks remained unchanged. The same occurred with forecasts for Brazil and Argentina, which had only a slight positive adjustment in final stocks. In Brazil, the National Supply Company (Conab) raised its estimate for the 2024/25 harvest to 169.6 million tons, a record. The number represents a growth of 14.8% compared to the previous season, which was impaired by drought. Israel's military attack on Iran stirred markets on Friday (13), boosting oil prices. The rise in the energy ...