Soybeans: steady sales in Argentina and bullish signals from Chicago

Soybeans continue to lead the sales ranking of producers, being their preferred product when replenishing liquidity, whether it is to cover commitments, exchange plans, or to face the sowing costs of summer crops. In the first week of October, producers sold to exporters and the oil industry a total of 2,118 million tons of soybeans available from the current 2024-25 harvest. In the same period, producers sold a total of 675,000 tons of soybeans from the next 2025/26 harvest. The purchases by exporters, both of old crop soybeans and new crop soybeans, were mostly at-price purchases. This pattern of at-price purchases by exporters follows the strategy of not having open purchase positions without fixed prices and ensuring the margin of the business, minimizing the risk of price variation. Additionally, the export of soybeans always has a more limited time period where it can compete with the soybean supply from other countries such as Brazil and the United States, while the oil ...