USA: Soybean meal rises almost 3% on Chicago and gives strength to the recovery in grain prices this Friday

Published 2024년 12월 20일

Tridge summary

Soybean prices on the Chicago Stock Exchange experienced a surge on Friday, with increases ranging from 9.75 to 10 points in the main maturities. The rise in soybean futures was partly due to significant gains in bran futures on the CBOT, nearly 3%. However, experts caution that bearish fundamental scenarios persist, and prices may still decline. The market is also closely monitoring the dollar's performance against the real, as a drop in the dollar allowed soybean prices to recover on the CBOT. Additionally, the market is taking note of the Central Bank's aggressive action in the foreign exchange market, the approval of the fiscal package, and the improved external sentiment.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Soybean prices continue to rise on the Chicago Stock Exchange, intensifying their gains throughout trading on Friday (20). At around 1:15 pm (Brasília time), prices rose 9.75 to 10 points in the main maturities, with January returning to US$ 9.72 and May - an important reference for price formation in Brazil - worth US$ 9.85. This Friday, part of the support for grain futures comes from the good increases recorded among bran futures, which rose almost 3% on the CBOT. "La Niña is strengthening. Argentina and the South of RS are already feeling the effects. Bran is rising and premiums in Argentina for short shipments are firmer", reports the Agrinvest Commodities team. Even so, experts continue to reinforce that the bearish fundamentals scenario has not changed and that prices may still reach lower levels. Furthermore, the slower pace of the markets at the end of the year also leaves liquidity more contained on the stock exchanges. The market is also watching the dollar's progress - ...

Source: NoticiasAgricolas