Possible agreement between USA and China brings volatility to Brazilian soybean market

The Brazilian soybean market experienced a session marked by strong volatility on Tuesday (28). According to Safras & Mercado analyst Rafael Silveira, the trading session was unstable, with the grain rising more than 2%, still supported by expectations of a possible trade agreement between the United States and China. "At the ports, premiums retreated again, which ended up limiting the bullish bias of the exchange," explained Silveira. Despite occasional moments of opportunity, the reported movements were small. According to the analyst, prices operated mixed in various markets, as quotations remain above the export parity. In the new crop, premiums turned negative, triggering a warning signal in the market. Silveira also highlighted that the producer remains focused on planting, and the good rainfall forecasts in the Center-West, Northeast, and South maintain the pace of work. The volume of business, however, remains reduced. Soybean futures contracts on the Chicago Board of ...