Soybeans: Chicago Stabilizes After Two Sessions of Intense Losses

After facing two sessions of significant declines, soybean prices find stability during Wednesday morning (17) at the Chicago Board of Trade. The commodity's prices range from 0.25 to 1 point in the main contracts, with May contracts trading at $11.46 and July at $11.60 per bushel. Derivatives also maintain a sideways trend on the CBOT.

In Chicago, wheat futures show solid gains, which helps sustain not only soybean prices but also those of corn. All these markets are in a transitional phase, closely following the start of the new crop season in the United States. Weather conditions in the American Midwest are receiving special attention.

Additionally, traders are watching the dollar's strong rise and its impacts on soybean trading in Brazil, as well as the US export program's viability. In just this week, more than three million tons of Brazilian soybeans have already been traded.