The soybean market continues its rise on the Chicago Stock Exchange this Wednesday (5), however, with more limited gains this morning. The main maturities, at around 7:15 am (Brasília time), rose between 2 and 2.50 points, with May worth US$ 10.90 and July, US$ 11.02 per bushel. In the soybean complex, oil fell, bran remained stable. Among grains, more gains were observed in both corn and wheat, both providing support for the oilseed. Prices have also been rising with an eye on the weather conditions in South America. Forecasts continue to point to very hot weather and almost no rain for Rio Grande do Sul and Argentina, effects of a new heat wave that should hit the regions. Thus, expectations remain regarding the new cuts that may be suffered by the harvests in both Brazil and Argentina, mainly according to the USDA (United States Department of Agriculture) in its new monthly supply and demand bulletin that will be released next week. Meanwhile, eyes are on Donald Trump and his tariffs. Trade relations with China have become misaligned with tariffs imposed by the US on Saturday (1) and already retaliated by the Asian nation on Tuesday (4), starting a new phase of the trade war. And so, traders are now seeking to understand how the markets will continue to react to this scenario.

Still complementing the soybean scenario, the recent declines in the dollar - mainly against the real, which yesterday lost R$5.80 - are also acting as fuel for soybean prices in Chicago.

Source: Notícias Agrícolas