The agricultural commodities market is on the rise this Friday, led by wheat in Chicago and coffee on the New York Stock Exchange. Following a session of intense losses, soybeans on the Chicago Board of Trade (CBOT) are attempting to regain ground and are trading higher this morning. Around 7:35 am (Brasília time), prices were up between 2.25 and 4 points in the most traded positions, with the May contract quoted at US$ 11.37 and July at US$ 11.51 per bushel.
Market optimism is being driven by the positive performance of wheat and coffee, with gains of over 1.5% and 2.3%, respectively. These increases are positively influencing other markets. Traders are paying attention to the geopolitical landscape and developments that may affect assets, particularly amid tensions in the Middle East and the behavior of the dollar.
Despite a slight increase in the dollar index on Friday, the U.S. stock market is trading lower, reflecting recent tensions in the Middle East. Additionally, oil prices are down despite recent Israeli attacks on Iran.
In the soybean market, focus remains on the weather in the United States, where planting is underway, and the conclusion of harvests in Brazil and Argentina. According to market analyst Marcos Araújo from Agrinvest Commodities, soybean prices on the CBOT are poised to test the year's lows.
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