Soybean market expected to pick up pace after year-end

The soybean market is expected to recover after the holiday season, with an increase in futures contracts in Chicago and the dollar's performance affecting domestic prices. Despite a drop in the Chicago Stock Exchange and a stable dollar, the rise in futures contracts, along with concerns over Argentine crop development due to dry weather, are contributing to a rise in prices. Investors are also closely watching the supply and demand report from the USDA, which is set to be released on Friday.

The soybean market should pick up pace this week after the holiday season. The rise in futures contracts in Chicago, combined with the dollar above R$6.10, tends to favor domestic prices, despite the decline in the US currency. On Friday (3), the grain had few trades and stable prices. The fall in the Chicago Stock Exchange and the stability of the dollar put pressure on prices. In Passo Fundo (RS), the bag fell from R$133.00 to R$132.00, while in the Missões region the price fell from R$134.00 to R$133.00. In the Port of Rio Grande, the value went from R$140.00 to R$139.00. In Cascavel (PR), the bag went from R$135.00 to R$132.00, and in the Port of Paranaguá the price fell from R$141.00 to R$139.00. In Rondonópolis (MT), the price remained at R$120.00, while in Dourados (MS) the bag fell from R$124.00 to R$122.00 and in Rio Verde (GO, the value went from R$123.00 to R$121.00. Soybean futures contracts in Chicago for March are trading up 1.33%, quoted at US$10.05 per bushel, due ...