Soybeans rise again in Chicago this 3rd with support in the quality data of American crops
Soybean
United States
Published Jun 6, 2023
Tridge summary
The soybean market rises on the Chicago Stock Exchange this Tuesday morning (6). Quotations, around 7:50 am (Brasília time), rose by 7 to 9 points in the most negotiated positions, taking July to US$ 13.59 and November - a reference for the American crop - to US$ 11.86 per bushel. In the spotlight, the new season of the United States.
Original content
Late yesterday afternoon, the USDA (United States Department of Agriculture) brought the first quality indices for the soybean crop and indicated 62% of oilseed fields in good or excellent condition, the market expected 65%. 31% of US soybeans are in fair condition and 7% in poor or very poor condition. Planting is in the final phase and has already reached 91%. On the other hand, traders are also adjusting their positions before the release of the new monthly supply and demand bulletin from the USDA (United States Department of Agriculture), which takes place on Friday (9). According to analysts and consultants, the June report is not known, traditionally, for bringing profound adjustments to its numbers, plus some information requiring more attention, such as US exports, both of soy and corn. More than Friday's bulletin, the market is also waiting for the area report that arrives at the end of this month. In addition to the fundamentals - which also include the South American ...
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