After the highs of the last session, the soybean market is back on the Chicago Stock Exchange on Friday (16). Oil futures, at around 8:30 am (Brsília time), fell slightly more than 2 points between the main salaries, but May / 19 was worth US $ 9.13 per bushel.
Expectations for the information and definitions that will come from the meeting of Donald Trump and Xi Jinping at the G20 meeting later this month in Argentina keep the market cautious and working with adjustments.
A withdrawal of Chinese taxation on American soybeans could completely change the pace of prices on the Chicago Exchange and enable a substantial rebound in prices. Likewise, the lack of consensus can weigh even on prices.
“However, ARC warns that the formulation of a real agreement is not likely in the short term. Even if this meeting has a positive outcome for both countries, it will still take a few months for concrete results to be implemented in the troubled US-China relationship. ”
The traders are still attentive to the development of the harvest in the USA, which shows some delay and the arrival of the snow in some points worries. At the same time, they observe the accelerated planting in Brazil and the preoccupations with Argentina, where the excess of rains causes a scenario of uncertainty.