Futures of the grain rise more than 1%; climate and planting in the US are also monitored
Soybean prices remain sideways, testing both sides of the table, and are trading positively this Tuesday morning (23) on the Chicago Board of Trade. Quotations, around 7:20 a.m. (Brasília time), were up 1.50 to 2.50 points, with March at US$ 11.63 and July at US$ 11.78 per bushel. The market awaits fresh and strong news.
While they don't arrive, the market remains attentive to what it already knows, including the progress of American planting updated by the USDA (United States Department of Agriculture) late yesterday afternoon.
According to department data, the area planted with soybeans, up to last Sunday (21), reached 8%, and corn at 12%, against 3% and 6%, respectively, from the previous week. The averages are 4% and 10%, respectively, and market expectations were 7% and 12%. The report also brings the information that 3% of the corn fields have already germinated, compared to 2% last year and the average for the period.
Thus, traders are now paying attention to the weather in the American Midwest for the continuity of fieldwork. Forecasts indicate rains intensifying over the next seven days across almost the entire belt. In addition to the weather and the US crop, the market also remains attentive to the conclusion of the South American crop, demand behavior, derivatives, and the macro scenario.
The intense rises that continue to be recorded by wheat contribute, with futures of the cereal rising more than 1% on Tuesday morning on the CBOT.
Comments