USA: Soybeans show a small rise on the Chicago Stock Exchange, following the increase in derivatives

The soybean complex began the week with positive variations on the Chicago Stock Exchange, driven mainly by derivatives, with emphasis on soybean oil. On Monday morning (23), oil futures contracts showed an increase of over 1.3%, which helped sustain the grain's small gains, which varied between 2.25 and 2.50 points at around 8:30 am (Brasília time). As a result, the January contract was trading at US$ 9.76 per bushel, while the May contract was quoted at US$ 9.90. The July contract reached US$ 10.00 per bushel again. In addition to oil, soybean meal prices were also on the rise, with increases of almost 0.5%, which helped to provide more support to soybean prices on the CBOT (Chicago Board of Trade). Part of these gains in meal reflected concerns about the worsening of the La Niña phenomenon and its initial impacts on production in Argentina. According to Eduardo Vanin, market analyst at Agrinvest Commodities, La Niña is gaining strength and could affect soybean and corn ...