Soybeans: optimism fades in Chicago

The Chicago Board of Trade (CBOT) soybean futures market closed on Wednesday (29) with moderate variations, reflecting a cautious mood after days of strong appreciation. According to TF Agroeconômica, the enthusiasm that had driven the grain to its highest levels in 15 months gave way to a more defensive stance, amid expectations for the meeting between Xi Jinping and Donald Trump. The November contract closed up 0.16%, priced at US$ 1080.25/bushel, while the January contract fell 0.09%, to US$ 1094.50/bushel. In derivatives, soybean meal for December rose 0.72%, to US$ 308.7/short ton, and soybean oil fell 0.20%, to US$ 50.16/pound. Even with the gesture of the Chinese state-owned company COFCO, which acquired the first loads of American soybeans of the 2025/26 marketing year, investors preferred to wait for more concrete signals. The purchase was seen as a symbolic move, not as a significant resumption of demand. The market is assessing whether China will actually commit to ...