Soybean Show Stability in Chicago on Thursday Amid Focus on Political and Fundamental "Combo"

Without significant new developments on the horizon, the soybean market remains stable on the Chicago Board of Trade (CBOT) this Thursday morning (25th). Around 7:50 am (Brasília time), prices had decreased between 1.75 and 2.50 points, continuing the losses from the previous session, with August trading at $11.08 and November at $10.62 per bushel.

Meanwhile, on the CBOT, corn futures returned to gains, while wheat edged lower. Markets are paying close attention to climate issues — both in the U.S. and globally — while also keeping an eye on the political landscape in the U.S. and soybean demand behavior in particular.

The weather conditions in the U.S. Midwest are currently not ideal, with a lack of rainfall in some regions causing concern. However, experts say there is no severe threat on the horizon that could significantly alter the real potential of the American 2024/25 crop.

"Short- to medium-term forecasts for the U.S. indicate predominantly dry weather; however, the market has not shown major concerns regarding the current crop," comments Ginaldo Sousa, General Director of Grupo Labhoro. Not only in the U.S., but other areas where summer crops are developing also show some warning signs.

"On the global scene, the high temperatures observed in Eastern Europe and the Black Sea region may reduce yields, even though significant moisture loss is expected in southern Russian crops," Sousa adds.