Soybean Starts the Week Lower on Monday in Chicago, as New USDA Monthly Report Is Expected

Monday morning (12th) shows a decline for soybean futures traded on the Chicago Board of Trade (CBOT), with prices ranging from 5 to 7.50 points down in the most traded contracts around 7:40 AM (Brasília time). September was priced at $9.83, and November, also falling below $10.00 per bushel, was quoted at $9.97. The market is also following losses observed among corn futures and, especially, wheat, which dropped more than 1% at the start of the week.

The week kicks off with the arrival of the new monthly supply and demand report from the USDA (United States Department of Agriculture) at 1:00 PM (Brasília time), containing numbers that could influence the market, according to analysts and consultants.

For U.S. soybeans in the 2024/25 season, traders generally expect a reduction in planted and harvested areas. However, there is a market consensus that the report might also indicate increased productivity, potentially affecting corn as well. On the other hand, there is a possibility that export figures might be revised downward, which could put additional pressure on prices at the CBOT.