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Photo: Aprosoja Brasil
The attention of soy remain centralized to the worldwide coronavirus pandemic and its socio-economic impacts.
At the same time, signs of North American grain demand are returning to gain weight, as well as movements in Chinese demand in the international market and definitions of the new US crop, which is about to be planted. .
In Brazil, the new political crisis is gaining strength as a factor for the currency market.
Follow the facts that deserve the attention of the soy market next week. The advice is from analyst Luiz Fernando Roque, from the consultancy. Cultivation and market:
- Market players will continue to carefully analyze economic data.
disseminated by the main world economies for a better understanding of
the size of the pandemic damage to the global economy; - The exchange rate should continue to respond to this situation, but internal factors, at this time, are driving the US currency;
- Sergio Moro’s recent resignation generated a new political crisis in Brazil, and the financial market reacts negatively (drop in the stock market, high exchange rate). The moment is very nervous, and the next chapters of this new crisis will be essential to understand how far the exchange rate can rise. The R $ 6 level is no longer discarded;
- In the United States, it is time to define the size of the area to be planted with soybeans in the new season. The drop in demand for corn ethanol can lead to area transfers from cereal to soybeans, increasing the productive potential of oilseeds, which weighs in Chicago;
- It also weighs on the lack of mass purchases of American soybeans by the Chinese. Without the resumption of major purchases, Chicago should not have the encouragement for relevant valuations.
