Soybean prices intensify losses in Chicago, amid rains in Argentina and falling bran prices this Friday

Soybean prices fell more than 1% on the Chicago Stock Exchange on Friday afternoon (7), in a downward movement that affected all commodities traded on international exchanges. "In Argentina, recent rains have had a negative impact on soybean meal, which is putting pressure on soybean grain in Chicago. In Brazil, the falling dollar is increasing pressure on the physical market," reported the Pátria Agronegócios team. At around 2:15 pm (Brasília time), losses in meal were over 1.7%, which led to declines in grain futures that ranged from 7.75 to 10.50 points in the main maturities. Thus, May returned to US$ 10.66 and July to US$ 10.81 per bushel. The rainfall volumes recorded in Argentina were better than expected, but did not guarantee widespread relief for crops, according to the Rosario Stock Exchange. However, according to the institution, the rainfall "brought soybeans out of hell". As a result, the stock exchange reduced the index of soybean crops in fair or poor conditions ...