Soybeans Close Mixed in Chicago Again

According to TF Agroeconômica, the soybean market closed mixed this Tuesday (23rd) on the Chicago Board of Trade (CBOT). The August contract, a reference for the Brazilian harvest, ended with a drop of 0.47%, quoted at US$ 10.10 per bushel. The September contract fell 0.25%, to US$ 10.08 per bushel. Soybean meal recorded a rise of 1.22%, closing at US$ 273.80 per short ton, while soybean oil fell 0.78%, to US$ 55.63 per pound-weight.

According to TF Agroeconômica, the soybean market closed mixed on Tuesday (23rd) on the Chicago Board of Trade (CBOT). The August contract, a reference for the Brazilian crop, ended with a 0.47% drop, quoted at US$ 10.10 per bushel. The September contract fell 0.25%, to US$ 10.08 per bushel. Soybean meal registered a 1.22% increase, closing at US$ 273.80 per short ton, while soybean oil fell 0.78%, to US$ 55.63 per pound-weight. The day's movement was influenced by the perspective of favorable weather for American crops in the coming days, which led investors to take profits after recent highs. Despite the drop in crop quality — with 68% in good or excellent condition, compared to 70% in the previous week and below the expected 71% — the market momentarily ignored this factor, prioritizing positive weather forecasts. Among the bearish factors of the day, the absence of China in the American soybean market for the new crop, for which no reserves have yet been made, and the ...