Soybean prices hit three-year high on Chicago Board of Trade

Soybean contracts on the Chicago Board of Trade (CBOT) have reached their highest levels in three years. This surge is driven by rising oil prices and significant demand from China for United States soybeans. China recently purchased approximately 1 million tons of American grain, bringing its total acquisitions toward half of the 25-million-ton annual commitment established through 2028.

In Brazil, the physical market remains firm with active offers in port terminals such as Paranaguá and Rio Grande. Low grain availability in central regions like Mato Grosso, Goiás, and Minas Gerais is supporting price formation. Analysts suggest a cautious approach to trading due to high volatility, recommending staggered sales and margin protection strategies for producers and cooperatives.