2023-08-23 12:48:54
Soybean futures extend the losses of the previous session and return to operating in the red on the Chicago Stock Exchange this Wednesday morning (23). Prices lost 10 to 11.75 points in the most traded contracts, taking November to US$ 13.34 and May to US$ 13.53 per bushel. Losses in bran and oil also continue, as well as in corn and wheat.
The market is feeling, among other factors, the pressure coming from oil, which fell more than 1.5%, in addition to the liquidation of positions that continues, with traders still very attentive to information about the conclusion of the new crop in the United States and , little by little, turning its eyes to the beginning of planting in South America.
Traders have been closely watching the preliminary numbers that have been reported by the Pro Farmer Crop Tour, which are showing better than last year. However, they are considered more ‘realistic’ than those of the USDA (United States Department of Agriculture), which guarantees a lot of volatility to the markets.
Also on the radar remain the attention to grain trade in the Eastern European region in view of the escalation of the war between Russia and Ukraine, as well as attention on the possibility of a new corridor for the export of Ukrainian agricultural products.
Here’s how the market closed on Tuesday:
By:
Carla Mendes | Instagram @jornalistacarlamendes
Source:
Agricultural News
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