The soybean market is once again experiencing slight increases on the Chicago Stock Exchange this Thursday morning (7). Prices, at around 6:10 am (Brasília time), were up between 4.50 and 5.25 points in the most traded contracts, with November back at US$ 9.99 and May at US$ 10.34 per bushel.

Prices are adjusting for the morning after the intense volatility recorded in the previous session, which was directly influenced by the result of the presidential elections in the United States, which returned Donald Trump to the White House. After falling sharply due to a surge in the dollar, oilseed futures gradually recovered their losses and ended the day in positive territory, but with stability.

Thus, this Thursday, the market has been trying to continue the recovery and is focusing on some fundamentals, including a very positive fundamental picture for vegetable oils. Although soybean oil is taking profits this morning and trading slightly lower, yesterday it closed trading with a rise of over 3% on the CBOT.

Likewise, the markets are adjusting ahead of the new monthly supply and demand report that the USDA (United States Department of Agriculture) will release this Friday (8). And part of the expectations for this report is that there will be a reduction - even if contained - in the size of the new North American harvest, which will help to provide some support to prices in Chicago.

At the same time, attention is also being paid to the behavior of demand in China, which is now focusing on US soybeans, with a larger available volume than in Brazil at the moment, which is experiencing the development of a new harvest.

Source: Notícias Agrícolas