Soybeans mixed on the Chicago Stock Exchange

The Chicago Board of Trade (CBOT) registered mixed movements for soybeans on Tuesday (29), reflecting the combination of good evolution of the US crop and signs of weakened international demand. According to TF Agroeconômica, the soybean contract for August, a benchmark for the Brazilian crop, ended the day down 0.71% (–7.00 cents/bushel), at US$ 981.75. The September contract fell 0.30% (–3.00 cents), to US$ 989.50. August soybean meal retreated 1.21% (–US$ 3.20/short ton), to US$ 261.70, while soybean oil rose 1.75% (+US$ 0.99/pound-weight), closing at US$ 57.54. The bearish scenario prevailed due to the improvement in the evaluation of American crops by the USDA, which increased the classification of soybeans in good or excellent condition, contrary to market expectations. In addition, international demand remains lukewarm, with the European Union reducing its purchases of the oilseed — even though Brazil is its main supplier. The situation reflects a movement of ...