Soybean operates strong valuations in Chicago after USDA report

Posted by Marina
This Monday (30), soybean prices continue working on the positive side of the table on the Chicago Stock Exchange (CBOT). Around 2:47 pm (Brasília time), the main maturities operate with valuations of 21.25 to 18.75 points. The November / 19 contract traded at $ 9.04 per bushel, January / 20 was quoted at $ 9.18 per bushel and March / 20 worked at $ 9.28 per bushel.

The US Department of Agriculture (USDA) reported that quarterly soybean stocks at the September 1 position totaled more than 24.8 million tonnes (913 million bushels), up 108% from the same date last year. . However, the number was lower than expected by the market, which was 26.6 million tons (980 million bushels).

According to information from Bryce Knorr of Farm Futures, grain prices are operating high following the announcement of the USDA's quarterly report on grain stocks. "The government updates stocks on September 1, finalizing execution for 2018 corn and soybeans, providing fresh wheat yield data in its small grain summary," said Knorr.

According to information released by Reuters International, the market is monitoring trade talks between Washington and Beijing and is watching additional Chinese purchases of US agricultural products. Negotiations are scheduled to resume next week.

Source: Agricultural News