Soybeans: Chicago Board of Trade plummets and impacts prices in Brazil; check the quotes

The Brazilian soybean market experienced a day of little movement and falling prices. According to Safras & Mercado analyst Rafael Silveira, the day saw virtually no transactions recorded. Prices fell both in the available and new crop, following the correction movement in the Chicago Stock Exchange, which returned part of the recent gains. "The premiums rose very little and the dollar remained volatile, which limited the price references," he observed. According to him, the best moments occurred in the morning, before the market lost strength. "Today there were few active players, with many tradings out and few real offers recorded," he added. Soybean futures contracts traded on the Chicago Board of Trade (CBOT) closed the session today with a strong decline. The market was pressured by the lack of significant purchases of U.S. soybeans by China. The Chinese have given preference to the Brazilian product, which has a more competitive price. The Chinese state-owned COFCO held a ...