Market reduces soybean prices in the face of uncertain demand

The international soybean market started the week on a decline, following the weakening pace of exports and the caution of operators in light of global demand prospects. According to TF Agroeconômica, the movement mainly reflects the reduction in external sales and the growing doubt about the ability to recover shipments by the end of the year. The January soybean contract closed down 1.04%, at 1093.75 cents per bushel. The March position fell 0.92%, to 1105.75 cents. In the derivatives segment, meal for December dropped 0.36%, ending the day at 303.6 dollars per short ton, while oil declined 0.90%, to 50.90 cents per pound. These negative adjustments occurred even in the face of new confirmations of shipments and recent records of traded volumes. The analysis indicates that the market remains skeptical about the possibility of China purchasing the 12 million tons announced by the U.S. government. The uncertainty weighs on prices, which reached as low as 11 dollars per bushel. ...