The soybean traded on the Chicago Stock Exchange is working on slight gains on Thursday (7). Oil futures rose just over 3 points between the major maturities, around 7:45 am (Brasilia time). Thus, May / 19 was quoted at $ 9.05 per bushel.
The market recovers part of the casualties of more than 11 points recorded at yesterday’s close when it was further stressed by uncertainties about the China-US agreement, but also by the lower competitiveness of American products.
However, such ups are not yet consistent enough to continue, as there is a lack of news that could build the basis for a consistent commodity breakthrough. The market is still very much tied to the progress of the commercial war.
Earlier this Thursday, traders also received new US weekly export sales numbers to be reported by the USDA.
And they are also preparing for the new monthly supply and demand newsletter that will be released this Friday, March 8, and they are already starting to align their positions waiting for the new numbers.
Soybean oil is diversifying employment and now used in tires. The Goodyear has found a new way to contribute to the rubber compound becoming more flexible, even under changing temperature conditions, an important performance achievement to preserve and improve the adhesion of vehicles to the ground.
Tests show that rubber made from soybean oil mixes more easily with silica-reinforced compounds used in the composition of some tires, which improves manufacturing efficiency and reduces energy consumption.
The use of soybean oil to produce tires adds to recent innovations announced by the company, such as the use of silica derived from rice husk ash and the use of components such as carbon fiber and volcanic sand.