Soybeans close lower in Chicago due to China's absence

Soybean futures contracts ended this Thursday (31) in decline on the Chicago Stock Exchange, with negative pressure mainly caused by China's absence in purchase reports and the fear of new trade tariffs. According to an analysis by TF Agroeconômica, the August contract, a benchmark for the Brazilian crop, fell 0.62%, closing the session at $961.75 per bushel. The September contract retreated 0.64%, quoted at $969.50. The drop in prices marks the fifth consecutive day of losses. Despite the 52.48% increase in accumulated sales for export, China's absence—the largest global soybean buyer—has caused concern in the market. According to Ben Potter of the Farm Progress portal, the United States did not register new soybean sales to China for delivery in the fourth quarter. The American participation in Chinese imports fell drastically, from 31.7% in January to just 6.2% in July, while Brazil dominated 86.6% of Chinese purchases in June. In the derivatives market, soybean meal for August ...