Soybeans start the week with good gains in Chicago and reach new multi-month highs this Monday

The soybean market is experiencing a trade increase on the Chicago Stock Exchange, with prices rising between 8.50 and 9.75 points among the most traded contracts on Monday morning. This surge is attributed to gains in other markets, such as soybean meal and wheat, as well as positive figures from the USDA. The market is also closely monitoring weather conditions in South America, particularly in Brazil, Paraguay, and Argentina. Additionally, the market is taking into account the influence of the moving dollar on commodity prices.

The soybean market is trading higher on Monday morning (13) on the Chicago Stock Exchange. Prices rose between 8.50 and 9.75 points among the most traded contracts, around 7:05 am (Brasília time), with March being quoted at US$ 10.22 and May at US$ 10.47 per bushel. Oilseed grain futures follow gains in other markets, especially soybean meal and wheat on the CBOT, while still reflecting the bullish figures released by the USDA (United States Department of Agriculture), thus renewing their highs in relation to recent months. The market saw the American agency make significant cuts in its estimates for the 2024/25 scenario, with lower production, productivity and final stocks in the US, while also bringing a correction in soybean production and final stocks, thus prices continue to find support. Likewise, at the same time, traders are monitoring weather conditions in South America, which is even more evident given the lower supply in the United States. "The weather was dry ...