{"id":11951,"date":"2020-02-26T10:37:28","date_gmt":"2020-02-26T13:37:28","guid":{"rendered":"https:\/\/www2.safras.com.br\/?p=11951"},"modified":"2020-02-26T10:37:28","modified_gmt":"2020-02-26T13:37:28","slug":"soybeans-fall-again-and-move-away-from-cbot-highs","status":"publish","type":"post","link":"https:\/\/safras.com.br\/eng\/soybeans-fall-again-and-move-away-from-cbot-highs\/","title":{"rendered":"Soybeans fall again and move away from CBOT highs"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Soybeans fail again\nin the face of the resistance at USD 9.10 a bushel, which caused the May\/20 position\nto fall below 9.00 bushel near the end of trading on Friday. Coronavirus, renamed\nCovid-19, remains on the radar. The signs about the evolution of the virus\nremain ambiguous, which maintains the tone of caution amid traders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Over the week the\nmarket also reflected expectations of growth in the US soybean acreage in 2020. The\nUSDA\u2019s 2020 Outlook Forum pointed to a US soybean area of \u200b\u200b34.40 million ha (85\nmillion acres), up 11.7% from 2019, when 30.80 million (76.1) were planted and\nslightly above the average of 34.20 million ha (84.6) expected by the market.\nThe justification for the advance of this year\u2019s area is the resumption of\nplanting after climate problems in 2019 and, of course, a more positive outlook\nfor the market after the signing of the US-China trade deal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the\nrecovery, the soybean market still lacks fundamental strength. The main point\nof support would be the effective resumption of Chinese purchases in the United States,\nwhich has not yet happened. That is why there are so many doubts in the air.\nWill China\nfully comply with the agreement?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The deal indicates China\u2019s purchases of 12.5 billion US agricultural\nproducts, but it does not specify which product. It is very generic. Therefore,\nsome argue that China\nmust, at first, prioritize purchases of meat, ethanol and DDG. With that, the\npurchase of US soybeans would only be resumed at a good pace from the middle of\nthe year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Without a steady\nadvance of Chinese purchases in the US\nand in the face of supply pressure from South America, it is difficult to\nimagine a more consistent rise in soybean price in Chicago. There would only be room for\ncorrections and adjustments linked to the mood of traders.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Soybeans fail again in the face of the resistance at USD 9.10 a bushel, which caused the May\/20 position to fall below 9.00 bushel near the end of trading on Friday. Coronavirus, renamed Covid-19, remains on the radar. The signs about the evolution of the virus remain ambiguous, which maintains the tone of caution amid [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":9124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[102],"tags":[],"commodity":[],"class_list":["post-11951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agribusiness-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Soybeans fall again and move away from CBOT highs - SAFRAS &amp; Market<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soybeans fall again and move away from CBOT highs - SAFRAS &amp; Market\" \/>\n<meta property=\"og:description\" content=\"Soybeans fail again in the face of the resistance at USD 9.10 a bushel, which caused the May\/20 position to fall below 9.00 bushel near the end of trading on Friday. Coronavirus, renamed Covid-19, remains on the radar. 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