Soybeans rise in Chicago after losses on Monday.

According to an analysis by Grão Direto, the soy The Chicago Board of Trade opened higher on Tuesday (20), after closing negatively on Monday (19). The movement occurs amid market attention to new Chinese import data and the appreciation of oil. In Brazil, while physical prices registered declines in different regions, Dom Pedrito (RS) stood out for the resistance of its prices, with the soy traded at R$ 147.00 per sack at the previous close.

Grainsights, the market intelligence arm of Grain DirectThe report indicated that FOB soybeans in Dom Pedrito closed Monday at R$ 147.00 per sack, for November 2026, with a basis of +R$ 6.62 per sack. The Campanha Gaúcha region showed greater resistance to the declines observed in other regions. Among the factors highlighted by the analysis are the premium structure and the outflow through the Port of Rio Grande, which operated at parity with Santos during the period.

In the international market, Chicago began Tuesday recovering, following the rise in oil prices, which favors the competitiveness of vegetable oils as an energy feedstock and for biodiesel production. On Monday, contracts had closed lower, despite the growth in weekly export inspections from the United States. The Grainsights survey indicates that the prospect of abundant supply continued to weigh on prices, even in the face of positive demand indicators.

Another highlight is the performance of the bran. soy Brazilian exports of the product gained momentum in October, surpassing the level recorded in the same period of 2025. The analysis links this performance to the demand for domestic processing of the oilseed, which may increase competition for raw materials in the domestic market. At the same time, planting conditions vary across producing regions, with some areas affected by excess moisture and others still dependent on rainfall. In the Central-West region, irregular water availability remains a point of concern for productivity.

Brazilian trading, in turn, began the week with reduced volume. Grainsights monitoring identified Minas Gerais as the state with the highest relative activity on Monday, although liquidity was also classified as low. In Mato Grosso, São Paulo, and Rio Grande do Sul, business remained limited, while Goiás registered virtually no activity. Negotiations focused on the next harvest, with very little participation from the current production, indicating a greater willingness to trade the next harvest than available stocks.

For the next few days, Chinese import data will remain among the main indicators monitored by the market, given their potential to influence the recovery of physical prices.