Soy: Brazil has good business with interested industry and attractive prices at ports

Soybean

Brazil

United States

Market & Price Trends

Published Jan 23, 2024

Tridge summary

The Brazilian soybean market experienced increased activity at the start of the week, driven by positive reactions from the Chicago Stock Exchange and a rise in the dollar. However, premiums have limited the improvement of domestic prices. Despite this, industry interest and domestic prices are reportedly better than export prices. Soybean futures contracts traded on the Chicago Board of Trade closed with higher prices on Monday. Inspections of North American soybean exports reached 1,161,100 tons in the week ending January 18, according to the USDA.

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

The Brazilian soybean market registered better movement at the beginning of the week. The Chicago Stock Exchange showed a positive reaction and the dollar also rose. On the other hand, premiums limited better domestic price performance. Business on the day was boosted by better prices in Brazil's main ports. However, according to Safras & Mercado analysts, the industry has shown greater interest and domestic prices are better than export prices. In some markets, there are still adjustments to the difference in prices between the old and new harvests, which results in falls in some regions. Soybean futures contracts traded on the Chicago Board of Trade (CBOT) closed Monday with higher prices. The good gains in oil ensured the technical recovery movement, which had been outlined in recent sessions, but without strength. Inspections of North American soybean exports reached 1,161,100 tons in the week ending January 18, according to a weekly report released by the United States ...

Source: CanalRural