At the Chicago Stock Exchange, soybeans closed higher with advances in negotiations on the US debt ceiling, according to information released by TF Agroeconomia. “The Soybean contract for July 23 closed up 1.00% or $-13.25 cents/bushel at $1337.25. The quote for November 23, the main trading date in the US, closed up 1.47%, or $17.25 cents/bushel at $1189.25,” he comments.
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“The May 24 quote closed up 1.16% or $13.75 cents/bushel at $1203.50. July Soybean Meal contract closed up 1.26% or $5.0 ton short at $402.25 and July Soybean Oil contract closed up 0.62% or $0.30 ton /pound at $48.82”, completes the consultancy. This Friday, the soybean market bought the rumor and closed higher. “Throughout the week, soybean investors have taken a cautious stance, hoping for more effective results from the deal on the US federal government debt ceiling. With indications of advances in talks between the American President and the President of the House of Representatives, the market repurchased short positions throughout the week. Movement also guarantee before the long holiday this weekend. Soybeans closed the week up 2.29% or $30.00 cents/bushel for July 23”, he ...