Soybeans: Market reacts to first registrations of the year

The session on Thursday in Chicago was marked by a slight recovery in soybean prices, after three days of depreciation, according to TF Agroeconômica. The movement reflected a combination of market expectations and the release of the first official sales record of the crop year for one of the main international destinations. Even though moderate, the increase interrupted the negative streak and brought new elements to the formation of prices in the short term. The soybean contract for January closed the day with an advance of 0.34%, at 1119.50 cents per bushel. March rose 0.29%, at 1128.75 cents. In the meal, December registered a small increase, while soybean oil for the same month advanced 0.35%, at 51.53 cents per pound. The support came from the weekly export update, which indicated shipments of 1,249,000 tons, of which 232,000 were destined for Chinese ports. It was the first official sales record for the country in the season, allowing the market to gauge purchases following ...