After opening the day with a nearly 4% rise in soyabean prices, the Chicago Stock Exchange dropped slightly closing at $ 8.72 a bushel on the July contract, up 1.86%. This is the second strong valuation followed by oilseed contracts. According to the consulting company Safras & Mercado, the delay in planting the grain is the main driver. “The forecast is for continued rainfall throughout the week, bringing further delay to sowing jobs in the North American producer belt,” says analyst Luiz Gutierrez of Safras & Mercado. The market closed below the highs of the day. After the rise surpassed 6% in two days, funds and speculators made profits, reducing the pace of gains. The August position was priced at US $ 8.78 per bushel, with a gain of 1.82%. In the by-products, the July position of the bran closed with a rise of US $ 6.20, or 6.20%, to US $ 319.00 per ton. In oil, contracts maturing in July closed at 27.73 cents, with a gain of 0.44 cents or 1.61%.
Source: Canal Rural