Soybean Trade Steady This Thursday in Chicago as Market Awaits New News

This Thursday (13), soybean prices are stable on the Chicago Board of Trade. Around 7:40 AM (Brasília time), the most traded contracts were down between 1.25 and 2.25 points, with July at $11.76 and November at $11.46 per bushel.

The market continues to await new and impactful news to change the direction of soybean futures. The USDA (United States Department of Agriculture) June supply and demand report, released yesterday, came out neutral with no major changes for soybeans, resulting in limited impact on prices.

Weather conditions in the United States remain the main driver of the market, keeping some pressure on prices for now. The crop is developing well, and weather models do not currently indicate any threats to the fields in the Midwest.