Soybean Contracts Fall on CBOT
Soybean contracts for July delivery fell by 18.75 cents or 1.59% to $11.39 3/4 per bushel.
Stable to Lower Prices in Brazil
Soybean prices remained stable to lower across Brazil, with no significant developments. Some regions experienced slight adjustments due to yesterday’s rise in the dollar, while the Chicago Board of Trade (CBOT) was closed, and domestic prices remained unchanged.
Few transactions were reported today. Prices on the CBOT declined, and there was a significant disparity between buyers and sellers.
Soybean Prices in Brazil
- Passo Fundo (RS)**: Stable at R$ 133
- Região das Missões**: Stable at R$ 132
- Porto de Rio Grande**: Decreased from R$ 141 to R$ 139
- Cascavel (PR)**: Dropped from R$ 129 to R$ 128
- Porto de Paranaguá (PR)**: Fell from R$ 140 to R$ 139
- Rondonópolis (MT)**: Declined from R$ 126 to R$ 125
- Dourados (MS)**: Decreased from R$ 124 to R$ 122
- Rio Verde (GO)**: Unchanged at R$ 123
Chicago Board of Trade (CBOT) Update
Soybean futures on the CBOT closed lower on Thursday. According to Dow Jones, the market was pressured by the weather forecast for the United States. Despite the expectation of heat in the coming weeks, beneficial rains are also expected. The good condition of US crops and the steady progress of planting, along with a strong dollar against other currencies, contributed to the negative price outlook.
Analysts consulted by international agencies indicated that market participants are positioning themselves ahead of the US planted area reports, which are expected to be released on June 30. Therefore, there is a risk-averse sentiment with no tendency for bold movements until then.
Soybean Futures Contracts
Soybean contracts for July delivery closed with a decline of 18.75 cents or 1.59% at $11.39 3/4 per bushel. The August position was quoted at $11.39 3/4 per bushel, down 16.25 cents or 1.4%.
Soybean By-Products
- Soybean Meal: July position closed with a decrease of $7.00 or 1.91% at $357.60 per ton.
- Soybean Oil: July contracts closed at 43.97 cents per pound, down 0.33 cents or 0.74%.
Exchange Rate
The commercial dollar closed the session up 0.35%, trading at R$ 5.4607 for sale and R$ 5.4587 for purchase. During the day, the US currency fluctuated between a low of R$ 5.3857 and a high of R$ 5.4684.
The recent fluctuations in soybean prices and the exchange rate highlight the volatility in the market, influenced by external factors such as weather conditions and international market dynamics.
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