The soybean market continues to move sideways on the Chicago Mercantile Exchange this Wednesday morning (2) and is testing slight gains today. At around 7.20 a.m. (Brasília time), prices were up between 2.50 and 5.50 points, with July at US$ 10.27 and November - the benchmark for the American harvest - at US$ 10.31 per bushel.

Traders lacked news to promote more intense swings in oilseed futures. Thus, the fundamentals scenario continues to keep prices stable, with the new US crop developing well so far, with adequate weather conditions and no major threats, while demand for US soybeans is still slow.

China continues to be absent from the US market, with no new purchases and no signs that it may do so again, which keeps pressure on prices.

What is bringing some balance to prices are derivatives. On Wednesday morning, soybean oil prices were up more than 1.3%, with the first maturity worth 54.35 cents per pound. On the other hand, bran fell 0.52% to US$ 286.10 per short ton.

Source: Notícias Agrícolas