Soybean Prices Continue to Rise on Thursday in Chicago

Soybean prices are on the rise again on the Chicago Board of Trade (CBOT) this Thursday (15th), continuing the gains from the previous session, albeit modestly. The fundamental market conditions remain unchanged, with significant pressure still coming from the prospects of a strong new U.S. crop. However, the market is experiencing a technical correction and position adjustment after the recent steep declines.

As of 7:50 AM (Brasília time), prices were up between 5.50 and 6.25 points in the most actively traded contracts, with September quoted at $9.57 and November at $9.74 per bushel. The March 2025 contract, a crucial reference for Brazilian soybeans, was at $10.08.

Later today, the market is also awaiting the release of the USDA's (U.S. Department of Agriculture) weekly export sales report. In recent weeks, the data has exceeded expectations, providing some support to soybean futures on the CBOT.