Soybean prices in Brazil and USA

The Brazilian soybean market recorded good business this Thursday (15), despite the drop in Chicago. Prices fluctuated mixedly in the country. The dollar had a practically stable day. According to Safras & Mercado analysts, the industry is more aggressive, purchasing larger volumes. Domestic prices are more attractive than export prices, taking parity into account. Soybean futures contracts traded on the Chicago Board of Trade (CBOT) closed Thursday with lower prices. The ample global supply of the oilseed and signs of weak demand in the States determined the retraction of prices, which remain close to the lowest levels since December 2020. On the supply side, the rains improved crop conditions in Brazil and Argentina. Furthermore, the first USDA numbers for the upcoming season in the United States were above expectations. In terms of demand, exports and lower-than-expected crushing in the United States added pressure on prices. The rains that occurred over a large part of ...