Soybeans ended sharply higher on the CBOT this Tuesday.

The November soybean contract traded on Chicago Board of Trade (CBOT) It closed this Tuesday (1st) with a significant increase of 29.75 points and 2.31%, quoted at US$ cents 1,317.75/bushel. The January 2027 contract rose 29.50 points and 2.26%, to US$ cents 1,322.75/bushel. As for derivatives, the bran and the oil They rose 2.10% and 2.29%, respectively. In this session, prices were supported by strong international demand. United States Department of Agriculture (USDA) announced a one-off sale of 136,000 tons of soybeans to China. Uncertainties regarding the productive potential of the North American harvest also contributed to the gains, after the USDA reduce the assessment of crop conditions. According to the department, 58% of soybean areas were classified as being in good or excellent condition as of Sunday (30), down from 60% recorded the previous week. The market also reacted to the strong appreciation of oil in the international market, amid the increase in hostilities between the US and Iran. The rise in the commodity tends to improve the competitiveness of biofuels produced from agricultural raw materials, giving additional support to the soybean complex.

This text was translated by machine from Brazilian Portuguese.