China auctions pressure soybeans and market closes lower

Soybeans closed lower on Tuesday at the Chicago Stock Exchange, pressured by new strategies from China to reduce international grain prices, amid improved weather conditions in Brazil and higher global supply. According to an analysis by TF Agroeconômica, the movement reflects coordinated actions by the Chinese government to increase domestic availability and force declines in prices, especially for U.S. soybeans. At the close of the day, the January soybean contract fell 0.84%, priced at US$ 10.62/bushel, while the March expiration fell 0.88%, to US$ 10.71/bushel. Soybean meal for January also closed lower by 0.36%, at US$ 302.4 per short ton, and soybean oil had a more intense drop, of 2.26%, closing at US$ 48.36 per pound. China remains at the center of the market's attention. With the expectation of higher South American supply, Chinese buyers have adopted a more cautious stance, extending inspections for grain receipt and implementing stricter guidelines. Additionally, ...