News

USA: Soy begins the week moving sideways on Chicago this Monday, with no news that could boost prices

Soybean
United States
Sustainability & Environmental Impact
Market & Price Trends
Published Feb 26, 2024

Tridge summary

Soybean prices have shown stability at the start of the week on the Chicago Stock Exchange, with a slight increase between 0.25 and 1 point. The market is currently awaiting news that could influence price trends, focusing on the climate in South America, the conclusion of the 2023/24 harvest, and demand patterns. The next five days are expected to bring dry weather to Argentina and western central Brazil, with moderate to good rains in the South, PI, MA, and North of TO. Global demand for soybeans is predicted to remain low in the near future.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Soybean prices start the week with stability on the Chicago Stock Exchange. On Monday morning (26), prices rose between 0.25 and 1 point, with March worth US$ 11.33 and May, US$ 11.42 per bushel. Still at CBOT, bran futures rose 0.4% and oil futures lost 0.3%. The market resumes work still waiting for new news, for news that would be strong enough to define price directions. The climate in South America, the conclusion of the 2023/24 harvest and demand behavior are at the center of attention at this time. "Weekend of little rain in Argentina. Light and moderate rains were concentrated in the north of the country and the center of Santa Fé and Córdoba. In Brazil, the rains were concentrated in the Center West and part of MATOPIBA", reports the director of Grupo Labhoro , Ginaldo Sousa. "Forecasts for the next 5 days indicate dry weather for Argentina and the entire west center of Brazil, with moderate rains in the South and good rains in PI, MA and North of TO. For 10 days the best ...
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