The January soybean contract in Chicago Board of Trade (CBOT) The Brazilian soybean futures market closed this Tuesday (2) with a slight decrease of 4.00 points and 0.35%, quoted at US$ 1,124.00/bushel; the March contract fell by the same amount, to US$ 1,134.00/bushel. Regarding derivatives, soybean meal fell 0.95%, while soybean oil rose 0.61%. In this trading session, prices were pressured by uncertainties regarding Chinese purchases of US soybeans after the trade truce between the United States and China at the end of October. Since the agreement between the nations, Beijing has already purchased 2.251 million tons of the US commodity. This volume is considered low by market agents, since the White House had informed that by the end of 2025, the Asian giant would acquire 12 million tons of the oilseed. Growing concerns about the arrival of the Brazilian harvest on the market also drove prices down. According to data from DATAGRO GrainsSoybean planting in the country reached 78.8% by November 21 – a performance lower than that recorded last year (85.3%) and the multi-year average (82.5%).
This text was translated by machine from Brazilian Portuguese.