On Thursday, the soybean market in Chicago experienced increased gains, with the May contract reaching a test point of US$ 11.60.

On the afternoon of Thursday (7), the Chicago Stock Exchange witnessed notable increases in futures for bran and, particularly, soybean oil. The oil experienced almost a 2% gain among the most traded contracts, with the first position quoted at 46.04 cents per pound. Simultaneously, soybeans also displayed positive momentum, with gains ranging from 11 to 13.50 points around 2:10 pm (Brasília time). This propelled May to US$ 11.61 per bushel and August to US$ 11.65 per bushel.

The market is seizing an opportunity to test a recovery following recent session lows, adjusting positions in anticipation of the upcoming monthly supply and demand bulletin from the USDA (United States Department of Agriculture) scheduled for Friday (8) at 2 pm (Brasília time).

Heightened expectations are centered on new data from South America, particularly the soybean harvests in Brazil and Argentina. Market sentiment suggests a potential reduction in the estimate for Brazilian soybean production. However, there's a prevailing view that any cut might not be substantial enough to dramatically alter price trends.

Additionally, the market received a boost on Thursday from positive figures in North American exports. The USDA released updated data on weekly export sales, revealing soybean numbers exceeding market expectations. In the week ending February 29, the United States committed 613.5 thousand tons of soybeans, surpassing the anticipated range of 175 thousand to 600 thousand tons. China emerged as the primary destination for American soybeans.