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Soybean prices were positive during the week in Brazil and now, what is the trend?

Published May 26, 2024

Tridge summary

The Brazilian soybean market experienced an improvement in prices and business pace, driven by gains on the CBOT and the appreciation of the dollar against the real. There was initial movement at the ports due to Chinese demand, but activity slowed with rumors of China purchasing soybeans in the United States. The Chicago Stock Exchange saw contracts expiring in July appreciate by 0.98% due to concerns about the Rio Grande do Sul and Argentine harvest. The trend of increasing prices in soybeans, corn, and wheat is seen as a safety measure by investors, as they anticipate a imbalance in supply and demand due to potential climatic phenomena reducing grain production.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Brazilian soybean market had a week of firm prices and an improvement in the pace of business in the country's main markets. The combination of gains on the Chicago Mercantile Exchange (CBOT) and appreciation of the dollar against the real supported domestic prices and motivated sales. Between Monday (20) and Friday (24), soybean prices varied positively in the following marketing areas: Export premiums fluctuated between stability and firmness. There was greater movement at the beginning of the week at the ports, due to Chinese demand. The pace slowed at the end of the week with rumors that China was buying soybeans in the United States. On the Chicago Stock Exchange, the rumor of the Chinese purchase and specific concerns about the Rio Grande do Sul and Argentine harvest supported prices. Thus, contracts expiring in July appreciated by 0.98%, reaching US$ 12.40 per bushel on Friday morning. The exchange rate also favored negotiations. The commercial dollar was quoted at ...
Source: CanalRural
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