Soy: Market has Thursday of new losses and consecutive sessions of losses …

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The soybean market remains operating in a negative field this Thursday (30) on the Chicago Stock Exchange. The oilseed futures, around 8:10 am (Brasília time), lost between 1.75 and 2.50 points, in the fourth consecutive session of losses only this week.

Thus, March had US $ 8.90 per bushel, May US $ 9.04 and July, US $ 9.19.

“Uncertainties about trade deals, elections in the USA, fears of a global recession and now even a Coronavirus, have been the main factors putting pressure on agricultural commodities”, explains consultant Steve Cachia, from AgroCulte and Cerealpar.

Read more:

>> WHO holds second emergency meeting this Thursday (30)

And even more pressure comes from the arrival of the new harvest in Brazil, where the harvest has been going without major adversities until this moment.

“For today, only a positive surprise in American weekly exports, with purchases of American soybeans in good volume by China to reverse this trend”, completes Cachia.

Market expectations for US weekly soybean sales range from 400,000 to 1.1 million tonnes.

See how the market closed this Wednesday:

>> Soy and other commodities fall again this 4th in the face of the severity of the Coronavirus

By: Carla Mendes | Instagram @jornalistadasoja

Source:
              Agricultural News



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