On this Tuesday morning, soybeans remain steady in Chicago, experiencing minor declines following the highs of the previous session.

Soybean prices experienced a decline once again this Tuesday morning on the Chicago Stock Exchange. Around 7:10 am (Brasília time), prices modestly dropped, registering losses ranging between 2.25 and 5 points in the main maturities. Notably, May was quoted at US$ 11.50, and August at US$ 11.57 per bushel. Concurrently, bran and oil also faced reductions, with losses amounting to 0.50% at CBOT.

The market, lacking a discernible direction, remains tethered to familiar scenarios, particularly the developments surrounding the 2023/24 harvest in South America and the ongoing brisk purchases in China. In anticipation of fresh developments, traders are actively seeking adjustments.

Looking ahead to Friday, March 8, the USDA (United States Department of Agriculture) is scheduled to release a new monthly supply and demand bulletin. Expectations suggest that a further reduction in Brazilian production will be indicated, although analysts and consultants believe the impact on quotes should be limited.