External pressure leads soybean prices to new decline in Chicago

The international soybean market recorded a day of falling prices, influenced by the low pace of external sales and the absence of new deals with China. The movement reflected the caution of investors in a scenario of liquidation both in the grain sector and in the financial market. The lack of signs of an immediate resumption of Chinese purchases weighed on the negotiations. According to TF Agroeconômica, the January contract closed down 0.86 percent, while March fell 0.70 percent. In addition, the meal for December fell 1.05 percent and only the oil registered an increase of 0.58 percent. The behavior of the prices was linked to the expectation around the Chinese acquisitions, which, according to an analysis cited by the consultancy, would need to reach a daily pace of two hundred and fifty thousand tons by the end of the year to meet the volume announced after the meeting between the governments of the United States and China. Without confirmations of deals at the beginning of ...