Still trading sideways, the soybean market at the Chicago Board of Trade is experiencing slight declines this Thursday morning (16), remaining close to stability. Around 7:30 am (Brasília time), prices were down between 0.50 and 0.75 points, with July quoted at US$ 12.12 and August at US$ 12.15 per bushel.
The market is in need of fresh news once again. In the United States, weather conditions are normal and planting is progressing well. On the demand side, there are no major developments, with China still focused on Brazil and making good purchases here.
Traders are also keeping an eye on the strong rise in the dollar - up more than 2% at the CBOT - as well as the sideways movement in the soybean derivatives market, with slight declines in meal and oil. The latter is also awaiting decisions from the Biden administration regarding the taxation of used cooking oil imported by the US from China.
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