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Soy: see how prices closed the week in Brazil and Chicago, United States

Published May 25, 2024

Tridge summary

Soybean prices in Brazil remained stable to higher despite the dollar's rise and increased activity in the Chicago Stock Exchange. The market's calmness is attributed to sellers expecting higher prices, leading to slower market activity. Soybean futures contracts on the Chicago Board of Trade closed with higher prices, driven by portfolio positioning and unconfirmed reports of China resuming soybean purchases from the US. Market sentiment is heavily influenced by the planting situation in the US, with concerns over excessive rain potentially delaying work.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Soybean prices were stable to higher in Brazil this Friday (24). The dollar and the Chicago Stock Exchange rose, but prices offset part of the rise. Activity on the day was considered calm. According to Safras Consultoria, sellers expect prices higher than those currently offered, which slows down the market. During the week, good deals were made. Soybean futures contracts traded on the Chicago Board of Trade (CBOT) closed Friday with higher prices, expanding the gains accumulated during the week. The session was about portfolio positioning, considering the long weekend. On Monday (27) there will be no session in Chicago, a holiday in the United States (Memorial Day). Rumors, still unconfirmed, that China ...
Source: CanalRural
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