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On Wednesday (23), soybean prices rose again on the Brazilian market, this time as a result of the gains recorded on the Chicago Stock Exchange. The quotes worked all day in a positive field, seeking to secure significant levels in the international scenario.
The peaks even beat up to 3.17%, as was the case of São Gabriel do Oeste, in Mato Grosso do Sul, where the bag ended the day with a reference in the 65, R $ 00. In the Rio Grande do Sul and Paraná markets, gains ranged between 0.74% and 2.05%, with prices of R $ 68.50 and R $ 75.50 per bag.
However, the highs were not generalized and some places of Mato Grosso saw the prices give way, as was the case for Itiquira and Alto Garças, with losses of more than 1% and prices in the house of R $ 60 per R $ 64.00. In Smile, stable, the last call sign was R $ 59.00.
In the port of Paranaguá, soybeans closed down with an increase of 0.395 in availability, at R $ 76.30 per bag, while the March reference lost 1.29% to Rs 76.50 $.
What limited the highs in Brazil – or promoted losses, even if they were well located – is the fall of the dollar. After six consecutive sessions up, the US currency pulled out and finished Wednesday with a loss of 1.11%, worth R $ 3.7633.
According to experts heard by the Reuters news agency, the statements of the Minister of Economy, Paulo Guedes, on pension reform have been well received by the financial market and have contributed to the movement of exchange rate decline.
Analysts and consultants continue to report the slow pace of commercialization in the Brazilian market. Buyers have now withdrawn from the arrival of the new supply in South America – and the harvest is in full swing in Brazil – and, on the other hand, sellers are also avoiding new business.
"The Brazilian soybean market continues to be the subject of much speculation about losses caused by drought and therefore does not show sellers, who expect higher values in ports" says market consultant Vlamir Brandalizze of Brandalizze Consulting.
International Market
On the Chicago Stock Exchange, soybean futures closed the trading session with increases of just over 6 points between major maturities , March 19 closing the day at US $ 9:15 and May 19, $ 9.29.
The market is recovering some of the small losses recorded in the previous session, the market is still suffering from lack of data and direction. However, operators recognize that there is a technical recovery, always fragile, because prices do not count with a grant to ensure a steady advance.
"The unresolved issue between China and the United States remains a factor of pressure and confusion on the grain market," said Bryce Knorr, Senior Analyst at Farm Futures.
Yesterday, the Financial Times announced that the United States would have refused a meeting with China. The pre-meeting marked the arrival of the two countries between the 30 and 31 and the attitude ended up frightening the market. Similarly, traders continue to speculate on how the Asian nation buys into the US market, but there is no official confirmation given the government's blocking Donald Trump's entering his 33rd day.
However, as Steve Cachia, director of Cerealpar, explains, "the United States rejected Chinese proposals, but bad harvests in Brazil and Argentina and rumors that China could buy more soy. however, it remains very clear that the orientation of the Chicago market will depend much more on the outcome of the US-China trade war than on the South American harvest. "
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