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Soybeans Begin the Week in Chicago Working With Slight Highs Still Waiting for News



On Monday, soybean prices rose on the Chicago Stock Exchange, picking up some of last week’s lows, when it posted a two percent decline in major contracts. Still looking for their balance, the prices rose between 3 and 4.25 points, around 7:50 am Brasília time. The January / 19 had $ 9.04 and the May / 19, $ 9.30 per bushel.

The market begins the week the same way it ended: awaiting news on the trade relationship between China and the United States. And this will continue to be the main factor in observing the traders since new movements from both countries are expected in this atmosphere of truce between Donald Trump and Xi Jinping.

In parallel, the market also observes the development of the new harvest in South America and the arrival of the first offers in Brazil. In some parts of Mato Grosso, after all, the harvest is already being started. Despite some specific problems, the new Brazilian season has been designed in a very satisfactory way for the producers.

The demand also follows into attention. In the US, it remains sluggish, even with China having made some purchases late last week, and in Brazil the premiums continue to recede significantly, showing that buyers also shrink a little more at the moment.