Following the sharp decline in the previous session at the Chicago Board of Trade, soybean oil futures are breathing new life this Wednesday morning (15), with a slight increase of just over 0.5% among the most traded positions. The market continues to monitor the actions of the Joe Biden administration in the United States regarding the taxation of cooking oil imported by China. However, today, attention is also focused on the data that the National Oilseed Processors Association (NOPA) will release, including soybean processing figures for April and updated oil stocks. Waiting for these figures, July is priced at 43.65 cents per pound.
Consequently, the soybean grain market also finds room for recovery, reversing losses from the previous session and recording gains of 5 to 6.25 points in the main contracts today, with July quoted at US$ 12.24 and August at US$ 12.10 per bushel.
The climate in the United States, the main driving factor of prices at the moment, is also under constant monitoring. However, there are currently no threats that could cause significant price fluctuations, as weather conditions remain within normal ranges, allowing planting to proceed smoothly in the country.
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