Futures trading for soybeans ended the session this Thursday (16th) with significant appreciation on the Chicago Stock Exchange (CBOT). Oilseed futures ended the session with gains of 15.75 to 17.00 points, with July trading at $17.09 and August at $16.30 a bushel.
According to information from Successful Farming, weather forecasts in the United States are being closely monitored as the weekend approaches.
According to the United States Department of Agriculture (USDA), weekly sales of the old crop were 317,200 tonnes, against projections of 100,000 to 500,000 tonnes. China was the main destination for the American oilseed. For the entire season, the country has already committed 60,277.7 million tons, beating the latest USDA estimate for 2021/22 sales of 59.06 million tons.
As for the new crop, US sales were 407,600 tonnes, also within the market’s expected range of 100,000 to 600,000 tonnes. Undisclosed destinations accounted for the majority of purchases.
Due to the national holiday, Corpus Christi, the domestic market did not register variations this Thursday (16).