Soybeans end the week on an upswing in Chicago

Soybeans ended Friday (7) and the week on a high at the Chicago Board of Trade (CBOT), following a series of fluctuations marked by significant gains and losses. According to TF Agroeconômica, the movement reflected both external factors, such as the trade truce between the United States and China, and expectations about the upcoming data from the U.S. Department of Agriculture (USDA). The November soybean contract rose 0.71%, closing at $1101.75 per bushel, while the January expiration advanced 0.81%, to $1117.00. In the complex, soybean meal for December appreciated 1.37%, reaching $317.10 per short ton, and soybean oil rose 0.81%, quoted at $49.68 per pound. The week began with optimism following the announcement of the truce between Washington and Beijing, but enthusiasm waned in the face of uncertainty about the actual purchase of the 12 million tons promised by China. The initial acquisitions were considered modest, although three major American companies were rehabilitated ...