International news may influence soybean prices more than domestic factors

Based on information released by TF Agroeconômica, the soybean market is being impacted by international factors this week. The possibility of price spikes in both the dollar and the soybean price is in the spotlight, with negotiations between Israel and Iran being a key point to watch.

Market movements should be closely evaluated, especially considering the relationship between oil and soybean prices, as well as the strengthening of the dollar due to geopolitical tensions and US economic data. With an appreciation of 2.11% in the last week, the dollar indicates a growing demand for Brazilian grains compared to American products.

On the other hand, US exporters are reporting loose sales of soybeans, with the USDA indicating sales of 124,000 tons to undisclosed destinations. In addition, the USDA reduced its forecast for Brazilian production from 156 million to 155 million tons, which was below market expectations.

With so many factors at play, producers and investors in the soybean market should keep a close eye on international movements and possible price-setting opportunities. Market volatility and external influences could have a significant impact on soybean prices in the coming weeks.