Soybeans: dollar devaluation and Chicago affect the market; see how prices are globally

The Brazilian soybean market closed Friday (9) with falling prices, following the trend observed throughout the week. The devaluation was influenced by the fall in the dollar and the behavior of futures contracts on the Chicago Board of Trade (CBOT). Producers stayed away from negotiations, waiting for better prices, which resulted in a stalled market with a large disparity between buying and selling offers. Soybean futures contracts on the CBOT also closed lower this Friday, failing to sustain the day's initial gains. The November position fell by more than 2% during the week, reflecting concerns about favorable supply in the United States and expectations of a full harvest. Even the news of the sale of 132 thousand tons of soybeans to China and the strike in Argentina, which interrupted shipments from the country, were not enough to reverse the downward trend. The market is now awaiting the figures from the United States Department of Agriculture (USDA), which will be released ...