Colosseum a.s. (Colosseum a.s.)
Commodities  |  March 13, 2013 10:39:28

Soybean harvest in Brazil is gathering pace

ColosseumThe biggest drop in prices in the last almost two weeks recorded during the stock market yesterday, the Chicago Board of Trade CME Group within the most active futures contract for soybeans. It was a response to reports of accelerating harvest in Brazil, where it is expected bumper crop. According to independent sources, to March 8 in Brazil harvested 48% of soy, which is 2% percent more than the year before. On the same date it was sold for 58% soy. According to a recent report by the U.S. Department of Agriculture could be this year's soybean harvest in Brazil to reach a record 83.5 million metric tons and could thus deprive the United States position as a world leader in the export of that commodity. Soybean futures on the May delivery date weakened in yesterday's session at the exchange CBOT 0.7% to the closing price of 1468.75 pence per bushel.The same direction then develops the said contract price also within the day, yet by 4 cents to 1464.75 cents per bushel.

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