Soy reacts in Chicago with expectation of higher demand

The soybean market showed a strong recovery in Chicago Mercantile Exchange trading, driven by external factors and renewed expectations for international demand. According to TF Agroeconômica, the movement reflected an adjustment in investor sentiment following signals of stimulus to U.S. exports. The oilseed contracts ended Wednesday with a consistent rise. The March contract advanced 2.49%, with a gain of 26.50 cents per bushel, closing at US$ 10.92.25. The May contract followed the same trend and rose 2.55%, or 27.50 cents per bushel, to US$ 11.04.75. The positive performance was also observed in the derivatives, with soybean meal for March registering a rise of 1.47%, to US$ 296.20 per short ton, while soybean oil advanced 2.15%, closing at US$ 55.70 per pound. According to the analysis, the quotes began the trading session pressured by the advance of the Brazilian crop, but gained strength throughout the day after former President Donald Trump announced that China intends to ...