Soybean prices are stable this Wednesday morning (11) on the Chicago Mercantile Exchange, giving back the highs recorded in the previous session. Around 7:45 a.m. (Brasília time), prices fell between 1.25 and 2.50 points, with January prices at US$ 9.92 and May prices at US$ 10.08 per bushel. The market was moving against corn and wheat, which were rising on the CBOT. 

Oilseed futures remain sideways, reflecting the lack of new news for the market. Yesterday, the new USDA (United States Department of Agriculture) bulletin didn't bring any changes to the soybean picture, which has traders once again turning to the fundamentals they already know, including the large crop that has been developing well in South America. 

In addition, this week the US Department of Agriculture did not announce any new soybean sales, leaving the market even more fragile and feeling the impacts of the robust 2024/25 supply. 

On Wednesday, the grain market is also feeling the stability seen in both soybean meal and soybean oil on the Chicago Mercantile Exchange.

Source: Notícias Agrícolas