The moment is favorable for rising soybean prices.

In Chicago, soybean prices exhibited notable stability on Thursday, with analysts foreseeing potential appreciation by month-end. The day saw significant volatility on the Chicago Stock Exchange, as investors aimed to secure contracts above $12 per bushel. However, by session close, prices experienced a decline, with May lots dropping by 0.13% to US$ 11.9525 per bushel.

Ronaldo Fernandes, an analyst at Royal Rural, identifies a favorable opportunity for soybean price recovery, following a recent dip to the lowest level in over three years. He notes a substantial increase in contracts sold by funds, coupled with technical analyses indicating an impending price rebound. This surge in fund activity coincided with heightened demand from China, yet to be factored into prices.

Fernandes anticipates soybean values to hover around or above US$12 until the release of planting projections for the 2024/25 harvest by the United States Department of Agriculture (USDA) later this month. He suggests that Chicago's upward trajectory may persist unless USDA forecasts exceed market expectations.

During the USDA's Agricultural Outlook Forum in February, it was projected that soybean cultivation in the US could expand to 35.41 million hectares, up from the previous harvest's 33.83 million hectares.