The soybean market on the Chicago Stock Exchange starts this new week working in the negative field. The oil prices, around 7:50 am, lost between 1.50 and 4 points in the main contracts, with January / 19 worth the US $8.82 per bushel.
Prices return, on Monday (12), part of the highs registered at the close of the last session, when the market rose due to good domestic demand in the United States.
In addition, it also expects two new USDA reports, the first being weekly grain shipments and the second after the market closure of US crop tracking.
In parallel, they follow expectations for the new meeting of Xi Jinping and Donald Trump at the G20 meetings that take place later this month in Argentina. According to analysts of ARC Mercosul, the US government has sought to work on structuring a possible agreement with the Asian nation.
“The market does not expect a concrete resolution to be present in the short term, or even at the presidential meeting scheduled for the end of the month in Argentina, but it will be a speculative factor if new meetings to address this matter can be scheduled in early 2019,” the consultancy explains.