Soybeans rise again in Chicago, United States this Wednesday and again accompany gains in wheat and oil

Published May 22, 2024

Tridge summary

Soybean prices on the Chicago Stock Exchange rose on Wednesday morning, recovering from previous session lows, driven by a nearly 2% increase in wheat prices. July soybeans reached $12.40 and August $12.39 per bushel. The market is monitoring U.S. weather and the 2024/25 planting season, which currently shows no major issues. However, the high competitiveness of Brazilian soybeans is limiting price increases for American grain. Additionally, soybean oil futures rose by over 1%, while soybean meal remained stable but positive.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Soybean prices rose again on the Chicago Stock Exchange this Wednesday morning (22), recovering part of the previous session's lows. Once again, the oilseed follows wheat - which rises almost 2% today, also recovering - and, at around 7:40 am (Brasília time), it rose 4.25 to 5.50 points in the main maturities. Thus, July returned to US$ 12.40 and August was quoted at US$ 12.39 per bushel. The market follows wheat, but without diverting its attention from the weather conditions in the USA and the progress of 2024/25 planting there. So far, the new harvest does not present any major problems or the weather signals strong threats, which means that the impact on prices is more limited. Chicago also observes the high competitiveness of Brazilian soybeans, which also limits the increase in ...
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