International market pressures soybean prices

International market volatility has kept pressure on soybean prices, which ended the day and the week lower amid uncertainties about the pace of Chinese purchases. According to TF Agroeconômica, the scenario reflects a dilemma that has marked the current season for the United States, with Chinese demand advancing more slowly than expected after the resumption of trade relations between the two countries. The White House's forecast that the Chinese would buy 12 million tons by the end of the year was not confirmed, and the U.S. government extended the expectation of this deadline to February. So far, the officially registered volume amounts to 2.713 million tons. In light of the delay in the release of the data, part of the market is working with parallel estimates that reach 5 million tons, but negotiations continue to be based on official figures, which sustains the feeling of frustration with the lack of pace in acquisitions. U.S. soybeans remain expensive and concentrated in ...