Soy continues the good highs in Chicago this Tuesday and already operates in the house…

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The highs continue to be registered in the soybean market this Tuesday (13) and oilseed futures are already operating in the field of US$ 15.00 per bushel. Around 7:35 am (Brasilia time), prices rose between 8.75 and 12 points, taking November to $15.01 and January to $15.04.

The market continues to reflect the surprising numbers brought by the monthly supply and demand bulletin from the USDA (United States Department of Agriculture), which showed the country’s new soybean crop at less than 120 million tons, which may therefore be smaller than that of the last year.

The reduction in production was the result of lower productivity, planted area and harvested area. Thus, the estimates for the final stocks of the oilseed fell from 6.67 to 5.44 million tons.

See the full numbers:

Soybean - USDA Sep 22

World production was also revised downwards, as well as inventories and are another point of stimulus for quotations. Yesterday, prices soared more than 70 points following the release of the data.

With a much smaller crop being expected in the US, the focus now turns to Brazilian production, which cannot fail to guarantee the beginning of the reestablishment of supply and demand relations.

Attention, therefore, on the weather for the conclusion of the North American harvest and the beginning of the Brazilian one.

Here’s how the market closed this Monday:

Per:

Carla Mendes | Instagram @jornalistadasoja

Source:

Agricultural News

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